Already a subscriber?National Australia Bank has identified 20 use cases for generative artificial intelligence across the lender, including identifying the seriousness of customer complaints, assessing trust deeds used to back loans and tailoring messages sent to customers.
NAB chief data officer Christian Nelissen said the use of AI as a “copilot” for staff was “becoming a commodity play”, and the bank wanted to go further by “using it to find patterns in very large sets of data”. This is then presented to the paralegal in summarised form, with potential areas for human investigation flagged.should allow NAB to make lending decisions, based on the documents, on the same day, rather than the three days it takes currently.
CBA and NAB are experimenting with generative ID to tailor customer messages and product offers inside their banking apps. Mr Nelissen said different communications could be sent to customers, based on their personality type, which makes them more effective. Trials of the system in the NAB marketing department have shown the messages can capture the bank’s tone and values as well as providing information.