US-based Banking-as-a-Service (BaaS) provider Mbanq has launched Mbanq.AI, a suite of AI-powered technologies embedded across its core banking operations.
Mbanq said its Mbanq.AI solution will transform the operations of banks and fintechs.
The solution will reduce costs, minimise risk, and enhance customer engagement while delivering high levels of speed and scalability.
Mbanq.AI will also simplify regulatory processes, automate decision-making, and play an important role in shaping banks and financial institutions, said the company.
Mbanq chief technology officer Lars Rottweiler said: “AI allows us to anticipate customer needs and provide insights and solutions that adapt to individual financial journeys.
“Mbanq’s AI technology goes significantly beyond responding to customer demands – Mbanq.AI also anticipates customer needs. This transforms financial services into a proactive partner in clients’ lives.
“By 2035, nearly every aspect of banking will be AI-driven – from customer onboarding to loan issuance. This will enable deeper, more meaningful human interactions. Mbanq is proud to be a driving force behind this transformation.”
Mbanq said its AI strategy features an advanced decision engine, which harnesses real-time data analytics for instant credit evaluations, fraud detection, and compliance.
The technology is said to automate traditionally labour-intensive tasks and allows banks, credit unions, and fintech platforms to make faster, safer, and personalised decisions.
Its AI-powered engine, allows lenders to make accurate, data-driven decisions, simplify processes and improve outcomes for consumers and institutions.
Mbanq prioritises AI-driven personalisation to improve banking experiences for consumers.
Its AI systems provide personalised product recommendations, loan options, and proactive financial guidance, based on real-time analysis of customer data.
They will also help financial institutions to deliver the customised approach cost-effectively, strengthening client connections and ensuring a better banking experience, said Mbanq.
