Deloitte Latvia, together with PrivatBank implements Artificial Intelligence solution to improve efficiency of lending services
By promoting its digital strategy, Privatbank has implemented "Deloitte Latvia" Artificial Intelligence solution, which ensures accurate and timely identification of customer lending needs and provides the branch personnel with all the necessary information to facilitate communication with customers. The solution of Deloitte is 100% “made in Latvia” and meets all specifications of the financial market of Latvia.
Artificial Intelligence solution helps PrivatBank fully understand its customers’ needs based on their lifecycle, history of previous cooperation and range of services they already use, and offer lending services and plans that meet the criteria. This facilitates work for the Bank's employees as they can focus more on communication with the customer in order to express the offer or discuss the meeting, while personalized offers are being prepared by the Artificial Intelligence solution. As a result of constantly high productivity of the solution, it is possible to reduce the cost of services provision and provide cost-effective prices to customers.
As Deloitte Latvia Managing Partner Igor Rodin comments: "This solution is related to our long-term cooperation with Latvian financial institutions and expertise of specifications of the industry. Willingness of PrivatBank to enforce innovations, along with effective cooperation between Analytics and Information management team, led by Romans Taranovs, and financial advisory team, led by Andris Liepins, has allowed a digital and highly efficient tool to facilitate everyday work and ensures customer satisfaction. "
'I am delighted to note that PrivatBank is the first Bank in Latvia, which has
implemented this type of Deloitte Artificial Intelligence solution. The Bank's
cooperation with Deloitte is our logical step and a strategic decision. Thanks
to Deloitte artificial intelligence solution, Bank will significantly improve
the quality of services and the level of customer service in the field of lending
services. Customer needs have become more understandable: Bank uses customer transaction data to offer more suitable lending services. By “more suitable” banking services it is meant that the Bank is completely familiar with the client profile and offers only customer-specific information, for example, a customer who has recently acquired his first home, will be recommended to apply for consumer credit for the future house improvements." - comments Privatbank's individual and corporate client department manager Anna Svarena.