PremiumBENGALURU : RBL Bank has chosen Amazon Web Services (AWS), the cloud computing arm of Amazon.com, to strengthen its artificial intelligence (AI)-based banking solutions and drive digital transformation at the bank.
RBL Bank is building on its analytics practice and investing in AI capabilities to implement various use cases across multiple segments, including risk, customer service, human resources, and operations.
“The bank’s AI Centre of Excellence worked with AWS to create a templatized framework to roll out use cases using Amazon SageMaker to quickly and easily build, train, and deploy machine learning (ML) models as part of the Bank’s larger AI roadmap," AWS said in a statement.
AWS said RBL Bank will leverage Amazon Textract, a machine learning service that automatically extracts text, handwriting, and data from scanned documents, across the bank’s risk and operations divisions to analyze documents such as financial statements, stock statements, and stock audit reports to predict default risk. “Using ML allows analysts at RBL Bank to extract data and automate the handling of 2,500 documents per quarter."
“Our internal AI roadmap is based on building use cases that drive value for customers and our business. Our work with AWS accelerates this journey and enhances our customer engagement. Leveraging the breadth and depth of AWS services allows us to take a major step forward in our AI journey and prepare for the future," said Sankarson Banerjee, chief information officer, RBL Bank.
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