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Scotiabank applies AI and Big Data to better understand customer needs

Source: Scotiabank

Scotiabank today announces C.MEE, a new technology that leverages big data and artificial intelligence (AI) to enable even better customer experiences (CX) with the Bank.

Using AI to predict customer needs, C.MEE provides customers with relevant and timely financial advice when they need it most.

"C.MEE lets our customers engage with us on their own terms, obtaining the financial advice they need, when and how they want it," said Phil Thomas, EVP Customer Insights, Data and Analytics, Scotiabank. "With C.MEE, we're able to leverage big data and AI to gain a thorough understanding of what our customers need from us and then in turn, provide tailored financial advice when it's most relevant to them."

Scotiabank's C.MEE, uses the Bank's Global AI Platform, to analyze data across customer touchpoints — branch, mobile, online, contact center and email - to determine what advice is most relevant for a customer at any given interaction point. With C.MEE, Scotiabank not only provides customers with relevant advice, but also through the channel they prefer. The power of C.MEE is the sophistication of the AI. Taking cues from customer activity, C.MEE is constantly learning and understanding more about where customers are in their life and their financial behaviours, improving the relevancy of the advice provided.

"Scotiabank continues to innovate with AI to deliver better banking experiences for our customers, building on the Bank's efforts to drive digitization and technology modernization across the Americas," said Michael Zerbs, Group Head Technology and Operations.

Scotiabank's C.MEE is currently being leveraged in Canadian Retail Banking with plans to scale the technology across the Bank's global footprint in the Americas. The Bank continues to explore the power of AI and deep learning, supported by its strong talent pool of data scientists and data engineers and through the Bank's partnerships with leading academic institutions.

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