Revenue growth, efficiency and cost reduction from AI and Machine Learning
Leveraging AI to increase the value of your business. Get enabled to keep pace with the evolution of new technologies like AI and Machine Learning. Innovative solutions help you to generate new revenues, or cut costs by optimizing and automating your existing processes. According to a joint survey of Bank of England (BoE) and Financial Conduct Authority (FCA) , the number of AI applications is expected to triple within three years within the banking sector. The immediate benefits of more AI applications are expected efficiency gains and cost savings as well as improved or new services that could be generating additional revenue.
"For more than 250 years the fundamental drivers of economic growth have been technological innovations […] – a category that includes the steam engine, electricity, and the internal combustion engine. […] The most important general-purpose technology of our era is artificial intelligence, particularly machine learning."
Erik Brynjolfsson, Professor at Stanford University & Andrew McAfee, Principal Research Scientist at MIT
We unite state-of-the art AI expertise combined with a deep knowledge and hands-on experience in the areas of financial products, markets and trading processes.Banking DNA
We combine many years of hands-on experience with deep banking expertise. For more than 20 years, we have been proving this to our clients every day.Complementary Expertise
Our team consists of experts from various domains with skills that complement each other in an optimal way. Business analysts, quants, AI specialists, developers, project managers and business experts are all part of our team. This enables us to deliver every part of your project.Market-proven Software
We develop Software. Our in-house developed software products are major drivers of success for our clients, helping them to create additional value every single day.Tailor-made Solutions
We develop customized solutions to solve your problems. We rely on existing LPA software or use external technologies – whatever fits your needs. This ensures that we find the optimal solution for your use case.
AI & Advanced Analytics can be used to overcome human weaknesses. For many cases, a hybrid approach reveals its full power combining the advantages of both worlds: humans have the inside track for flexibility/creativity, personal relationships and oversight, which can be complemented by AI's strengths in automation, optimisation and big data/pattern recognition. For us, AI can be defined as usage of Advanced Analytics and new technologies such as Neural Networks, Deep Learning, Random Forests and Machine Learning to perform recurring and low-value tasks that are usually performed by humans to fully release the potential of your workforce.
Tier 1 banks already benefit from AI-based solutions in various areas: Improved client service by using virtual assistants (e.g. chat bots), aggregation and analytics of news for sentiment, topics and trading signals, or anomaly detection to identify and reduce fincrime are only a few of the most popular examples. In addition, many banks already use machine learning in credit scoring and product recommendations.
For a successful AI project, not the AI expertise, but the business expertise and the associated domain knowledge are the most crucial success factors. There are various challenges in implementation: From a technical perspective, major challenges are fragmented legacy IT landscape in the banking sector and the associated lack of data quality and accessibility. Another success factor that is often underrated is the acceptance of AI, which can be increased by confidence building and traceability of results using explainable AI. At the same time, a sound change management is essential to accompany those changes in processes and culture towards more data-driven decisions.
We enable our clients to unleash the full potential of AI to increase revenues and cut down cost. LPA brings visions to life and creates tangible business cases. We deliver. We support you with hands-on consulting and development services as well as AI-driven, market-proven tools and software products.
We advise and support you in all kinds of implementation projects in the area of Advanced Analytics & AI.
We offer a broad range of software solutions in the areas of process automation, complex product valuation and advisory & customer retention.
Our hands-on business and technology expertise makes us the optimal companion in selecting and implementing a third-party software solution.
Our business experts support you in the development of your in-house solution - from strategy and conception to project management.
We offer to validate and challenge your existing AI solutions. Like this, we ensure future value-added of your AI business solution.