17/10/2023
Chile
Investor Relations
Transbank further consolidates its position as a tech company with generative AI
19/02/2024
5 min
- With this virtual assistant, Transbank becomes one of the first companies in the Chilean fintech sector to implement this innovative technology for employees.
Santiago, February 2024. Transbank, a leader in payment solutions in Chile, announced that it was fortifying its team with a conversation assistant created with generative artificial intelligence (AI) and implemented with Amazon Web Services (AWS), coreDevX and Deloitte.
This milestone makes Transbank one of the first companies in the Chilean fintech sector to implement this innovative technology, done to boost employee productivity and respond more quickly to its customers.
"We are proud to be pioneers in Chile in adopting generative artificial intelligence to be used productively and responsibly for a concrete purpose. With this assistant, we seek to deliver an innovative service experience, while maintaining our high standards of information security and privacy," said Maureen Doren, Data & Analytics Division Manager.
This bot can help Transbank professionals in at least five ways: providing information and quick responses to frequent queries, searching through and reporting on large volumes of data, generating document drafts and minutes, providing suggestions and creative ideas, and streamlining administrative and routine processes.
"Among its current and future uses, we are applying this technology in our call center to analyze information and redefine certain processes and service protocols. This will help personalize and improve our customers' experience and our commercial efforts. Additionally, we are training the bot with descriptive information on our customers to enable it to provide a summary of each customer’s relevant milestones and the best recommended commercial proposal based on its individual conduct and needs, all in a single interaction with our executives," added Doren.
Transbank has been working with Amazon Web Service (AWS) since 2022, first to migrate to the cloud and today to incorporate generative AI into its processes. "Artificial intelligence (AI) applied through machine learning (ML) will be one of the most transformative technologies of our generation, addressing some of humanity's most challenging problems, enhancing human performance and maximizing productivity," said Felipe Ramirez, country manager for AWS in Chile.
In August it began prospecting and fine-tuning in search of the best LLMs (Large Language Models) in conjunction with coreDevX, a boutique engineering firm specializing in frontier tech solutions. A few months ago this process culminated in implementing this internal generative AI for Transbank employees. In this process, AWS specifications and models were developed and implemented in conjunction with Deloitte.
The consulting firm's work focused on catalyzing AWS solutions to design and coordinate wizard implementation with Transbank's existing systems. "This project leverages Deloitte's international best practices. It is tangible proof that generative AI is not just a futuristic promise, but an accessible and potentially transformative reality for businesses. The assistant can be evaluated on an ongoing basis in order to enhance its performance and accuracy for users. This undoubtedly reflects the adaptability and innovation present in our financial industry," said Pedro Figueiredo, Lead Partner in Omnia AI, Artificial Intelligence & Data Practice at Deloitte.
By launching this initiative, Transbank takes a new step towards user-centric experiences at the forefront of available technologies. Likewise, it consolidates its leadership as an innovative company, according to two of the most important rankings on the subject in the country (C3 and Most Innovative Companies), while constantly seeking the digital transformation of the Chilean payment system by responsibly incorporating the latest tech trends.
This milestone makes Transbank one of the first companies in the Chilean fintech sector to implement this innovative technology, done to boost employee productivity and respond more quickly to its customers.
"We are proud to be pioneers in Chile in adopting generative artificial intelligence to be used productively and responsibly for a concrete purpose. With this assistant, we seek to deliver an innovative service experience, while maintaining our high standards of information security and privacy," said Maureen Doren, Data & Analytics Division Manager.
How does this initiative contribute to the company's day-to-day work?
This bot can help Transbank professionals in at least five ways: providing information and quick responses to frequent queries, searching through and reporting on large volumes of data, generating document drafts and minutes, providing suggestions and creative ideas, and streamlining administrative and routine processes."Among its current and future uses, we are applying this technology in our call center to analyze information and redefine certain processes and service protocols. This will help personalize and improve our customers' experience and our commercial efforts. Additionally, we are training the bot with descriptive information on our customers to enable it to provide a summary of each customer’s relevant milestones and the best recommended commercial proposal based on its individual conduct and needs, all in a single interaction with our executives," added Doren.
Collaboration with global tech leaders
Transbank has been working with Amazon Web Service (AWS) since 2022, first to migrate to the cloud and today to incorporate generative AI into its processes. "Artificial intelligence (AI) applied through machine learning (ML) will be one of the most transformative technologies of our generation, addressing some of humanity's most challenging problems, enhancing human performance and maximizing productivity," said Felipe Ramirez, country manager for AWS in Chile.In August it began prospecting and fine-tuning in search of the best LLMs (Large Language Models) in conjunction with coreDevX, a boutique engineering firm specializing in frontier tech solutions. A few months ago this process culminated in implementing this internal generative AI for Transbank employees. In this process, AWS specifications and models were developed and implemented in conjunction with Deloitte.
The consulting firm's work focused on catalyzing AWS solutions to design and coordinate wizard implementation with Transbank's existing systems. "This project leverages Deloitte's international best practices. It is tangible proof that generative AI is not just a futuristic promise, but an accessible and potentially transformative reality for businesses. The assistant can be evaluated on an ongoing basis in order to enhance its performance and accuracy for users. This undoubtedly reflects the adaptability and innovation present in our financial industry," said Pedro Figueiredo, Lead Partner in Omnia AI, Artificial Intelligence & Data Practice at Deloitte.
By launching this initiative, Transbank takes a new step towards user-centric experiences at the forefront of available technologies. Likewise, it consolidates its leadership as an innovative company, according to two of the most important rankings on the subject in the country (C3 and Most Innovative Companies), while constantly seeking the digital transformation of the Chilean payment system by responsibly incorporating the latest tech trends.
Investor Relations