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HSBC Develops AI Utility

December 19, 2018

HSBC’s Global Banking and Markets division, has partnered with Tresata to automate the creation and consumption of quality data and actionable intelligence to improve operational management, critical decision making and better serve its global customers.

This new data automation uses Tresata’s advanced analytics operating system, including intelligent customer identification and predictive analytics, to identify, link and assign data across all customers before making it available to the bank’s data-driven digital and analytics products and services; at massive scale with remarkable speed and accuracy.

“We process millions of transactions daily, sourced from 200 different data systems, 66 jurisdictions, 14 major product lines, and 75,000 data fields,” said Chuck Teixeira, Chief Administrative Officer and Head of Transformation in GBM. “By automating this entire process we improve our ability to get quality data for each and every customer to power all the products and services we bring to them, in addition to reducing compliance risks through an enhanced ability to manage huge volumes of data.”

“The challenge facing every large bank is the same: how to create actionable intelligence from petabytes of data generated by millions of customers transacting across multiple countries and currencies. Tresata’s software is the only solution built to solve that challenge, allowing banks like HSBC to not just create actionable data, but also convert the same into a competitive advantage,” said Abhishek Mehta, Founder & CEO of Tresata. “HSBC now has a digital and analytics capability that makes it an industry leader in using data to benefit its customers and its people.”

HSBC is currently using Tresata software to automate the creation of data assets across all regions, products, systems, and services globally.

“We are continuously investing in automation systems that democratize the availability of AI-powered data and analytics technology to as many companies as possible,” said Abhishek Mehta. “Tresata is leading the innovation charge powering this data-driven economic revolution.”

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