20 April 2018
visit www.nextgenbanking.co.uk

USAA takes stake in cognitive computing firm

14 June 2017  |  4517 views  |  0 back of one dollar note

USAA is to implement artificial intelligence technology to improve customer services following participation in a $15 million funding round for CognitiveScale.

USAA says it will deploy CognitiveScale's Financial Services suite of AI-based tools to deliver predictive, data-driven banking and insurance services while learning continuously from user interactions and data.

“USAA has a long history of using emerging technologies to develop innovative ways to serve our members,” says Nathan McKinley, VP and head of corporate development for USAA. “Our work with CognitiveScale allows us to support such innovation through our investment while also leveraging the AI products they have today to find ways to better serve our members.”

The Austin Texas-based firm says USAA will follow its 10-10-10 deployment model, which helps businesses select and model their first cognitive system in 10 hours, configure that system using their own data in 10 days, and deploy it within 10 weeks.

Other investors in the latest round - which brings total funding for the company to $50 million - include Norwest Venture Partners, Intel Capital, Microsoft Ventures, and The Westly Group.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

USAA licenses security technology to Indian software house

USAA licenses security technology to Indian software house

01 March 2017  |  5203 views  |  1 comments | 3 tweets | 1 linkedin
USAA opens new design studio

USAA opens new design studio

13 February 2017  |  6332 views  |  0 comments | 7 tweets | 4 linkedin
Citi fintech chief Heather Cox quits for USAA

Citi fintech chief Heather Cox quits for USAA

12 August 2016  |  13260 views  |  1 comments | 3 tweets | 5 linkedin
USAA introduces Savings Coach virtual assistant

USAA introduces Savings Coach virtual assistant

22 July 2015  |  9870 views  |  1 comments | 13 tweets | 13 linkedin
USAA leads $30 million investment in PFM outfit MX

USAA leads $30 million investment in PFM outfit MX

30 April 2015  |  4921 views  |  0 comments | 15 tweets | 22 linkedin
USAA to roll out voice and facial authentication for mobile log-in

USAA to roll out voice and facial authentication for mobile log-in

20 January 2015  |  11912 views  |  2 comments | 17 tweets | 16 linkedin
USAA enlists IBM's Watson to help military personnel transition to civilian life

USAA enlists IBM's Watson to help military personnel transition to civilian life

25 July 2014  |  7185 views  |  1 comments | 5 tweets | 5 linkedin
USAA to add Siri-like virtual assistant to mobile app

USAA to add Siri-like virtual assistant to mobile app

08 August 2012  |  9134 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.nextgenbanking.co.ukVisit http://wup.digital

Top topics

Most viewed Most shared
Revolut launches spare change savings toolRevolut launches spare change savings tool
9618 views comments | 14 tweets | 19 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
8798 views comments | 17 tweets | 31 linkedin
Barclays Bank sets up tech venture unitBarclays Bank sets up tech venture unit
8375 views comments | 16 tweets | 22 linkedin
Top tier banks pass first transactions on trade finance blockchainTop tier banks pass first transactions on...
8361 views comments | 18 tweets | 23 linkedin
Goldman Sachs acquires PFM startup Clarity MoneyGoldman Sachs acquires PFM startup Clarity...
7934 views comments | 9 tweets | 10 linkedin

Featured job

Find your next job