Transactions: Google Cloud powers Quantum Metric’s gen AI tool

Digital analytics platform Quantum Metric used Google Cloud ’s Gemini Pro to launch its generative AI-powered session summarization tool Felix AI on April 4. “Our technology allows organizations to … understand where and why users struggle, quantify how many are experiencing the same issue and connect information across the organization to promptly rectify the problem to prevent recurrence,” a Quantum Metric spokesperson told Bank Automation News . However, summarizing sessions and understanding consumer data can be time-consuming, the spokesperson said. [caption id="attachment_57364671" align="alignright" width="300"] Courtesy/Bloomberg [/caption] In fact, before Felix AI, in 2023, the Quantum Metric team spent more than 320,000 hours reviewing customer sessions, according to a release from the Colorado Springs, Colo.-based company. “To address this, Quantum Metric developed Felix AI, which automatically identifies major issues within an experience and the reasons behind them, providing detailed insights in seconds,” the spokesperson said. “All data used by Felix AI is sourced from non-identifying behaviors observed in specific session replays, compiled into a concise summary that teams can easily review, share and act upon quickly,” the spokesperson said. Quantum Metric works with companies in the airline, retail, healthcare, banking and gaming industries. Banks were enrolled in the Felix AI beta program, which started on March 1, and reported that Felix reduced the time it took to understand customer issues by up to 70%, the spokesperson told BAN . “This helps digital teams at financial institutions conserve resources and quickly respond to potential errors in their experience, enabling them to remain competitive with major competitors,” the spokesperson said. Visa, Skipify team up on digital payments Technology provider Skipify announced on April 4 it has selected payments giant Visa ’s Visa Digital Commerce Program to enhance its payments process. “The partnership allows Skipify to tap into Visa’s extensive network and reach spanning numerous countries and millions of merchants and consumers globally,” Linda Xu , chief commercial officer at Skipify, told BAN . The integration will tap Visa’s network tokenization technology, Xu said, noting that through tokenization, risk and fraud is minimized, creating a more secure payment system. "In early phases of this multiphase integration, Skipify customers in a growing list of markets will be able to link a Visa Click to Pay card with their Skipify Connected Wallet,” Xu said. Pioneer FCU taps Tyfone for business banking, FedNow Pioneer Federal Credit Union has deepened its relationship with Tyfone to use the fintech’s digital business banking solutions. Tyfone will provide the $746 million credit union with solutions including Skip-a-Pay and FedNow instant payment services , according to a March 15 release. Pioneer’s SMB customers want the capability “to send and receive money quicker, they want more sophisticated accounting systems, and they want to enable their entire team to access digital platforms to better manage their business,” Tracey Miller , senior vice president of operations at Pioneer FCU, told BAN . Through Tyfone, the credit union was able to connect to FedNow payments rails in about eight weeks, Marcell King , chief commercial officer at Tyfone, told BAN . “Our teams worked together to make sure we were in sync, not only with the FedNow specifications, but also how the user experience would facilitate instant payments,” he said. Tyfone is seeing more demand for digital banking solutions among community financial institutions, King said. “Consumers are looking for more streamlined ways to access their accounts quickly and easily from the same digital banking platform,” he said. It took Pioneer less than 120 days to go live on FedNow, and the instant payment service will be available to customers through Tyfone’s nFinia digital banking platform, Miller said. Busey Bank partners with CorServ for commercial credit cards Busey Bank is teaming with credit card issuer CorServ to provide customers with commercial credit cards, according to a release from CorServ on April 8. The $12.5 billion bank will provide customers one platform to manage credit cards, virtual card offerings, spend controls and expense management services, the release stated. The integration from the execution of the contract to the go-live date took about 90 days, Andy Santangelo , executive vice president and director of treasury management at Busey Bank, told BAN . “Timelines offered by other potential vendors were in the six-month plus range,” he said. “The CorServ program with the ability to use virtual and ghost cards, built-in expense management and the opportunity to earn competitive rewards and rebates, allows Busey’s commercial customers to carry a card that competes with the largest bank offerings but the comfort of dealing with the people they’ve established a relationship with,” Santangelo said. Machias Savings Bank , Midwest Bank Centre and Newton Savings Bank are some customers of Corserv, according to the company’s website. Clearwater acquires Wilshire Investment accounting platform Clearwater Analytics has agreed to acquire Wilshire Advisors for $40 million, according to an April 2 release. Wilshire AxiomSM, Wilshire AtlasSM, Wilshire Abacus and Wilshire iQComposite brands will be absorbed by Clearwater, the release stated. Following the acquisition, the combined company will be named Clearwater Wilshire Analytics . The deal is expected to close in the second quarter, the release stated. The acquisition positions Clearwater Analytics “to supercharge our clients' risk and performance capabilities across their front and middle office functions, while perfectly aligning with the long-term needs of our clients across the entire investment lifecycle," Chief Executive Sandeep Sahai said in the release. Visit Bank Automation News’ Transactions Database, which lists the technology selected or acquired by companies in the financial services industry , with a specific focus on technology that enhance s automat ion.

Transactions: Google Cloud powers Quantum Metric’s gen AI tool

Visa, Skipify team up on digital payments

76% of EU banks to up tech spend to comply with new regulation

Truist parts ways with another CIO

Related Posts

Truist to use gen AI for personalized alerts, outreach

OpenAI debuts financial tool tailored to investment bankers

Prevail Bank lays groundwork for AI transformation

Truist parts ways with another CIO

EMERGING FINTECH DIRECTORY

FinAi Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

Is Your Technology Supplier There for You?

Connect

Welcome Back!

Retrieve your password

Continue Reading with FinAi News Premium - Less than $2/Day

Transactions: Google Cloud powers Quantum Metric’s gen AI tool

Visa, Skipify team up on digital payments

76% of EU banks to up tech spend to comply with new regulation

Truist parts ways with another CIO

Related Posts

FinAi Podcast

Connect

Welcome Back!

Retrieve your password

Unlock This Article

Continue Reading with FinAi News Premium - Less than $2/Day