MeaningCloud understands the language of banking to help you leverage all your unstructured information
Pressures in the industry force banks to use unconventional sources of information to better understand their customers and markets, mitigate risks and comply with regulations. MeaningCloud incorporates prebuilt solutions for the banking industry and is easy to customize and integrate, so that you can embed in your processes the intelligence needed to leverage all that information.
Text analytics for the Banking Industry
The banking industry faces a landscape with increasingly demanding and independent clients, greater competition (both from traditional companies and new entrants in Fintech and the technology giants), new risks and the burden imposed by compliance with the regulation.
Text analytics enable banking processes to incorporate and leverage a wide repertoire of unconventional sources of information that, because of their unstructured nature, were hitherto difficult to deal with: documents of all kinds (contracts, reports, regulations), open responses in surveys, comments on social networks and forums, contact center interactions…
This information helps banks understand and serve their customers better and be more effective and efficient in key aspects such as product development, churn prevention, risk management, fight against fraud, market intelligence or regulatory compliance.
Areas of application of text analytics in Banking
Understand your customers and foster their loyalty
Understanding your customers is the key to offering personalized messages and products and serving and retaining them better. Semantic analysis helps you analyze multiple communication channels with them and detect unmet needs, areas of dissatisfaction and purchase or churn intentions.
Track and monitor your market
Banks cannot remain oblivious to a competitive environment as changing as theirs. Text analytics enables to process content from multiple sources, from social media to forums and specialized media in the industry, to discover developments in trends, demand, competitors and technology, especially moving-market information.
Improve your regulatory compliance
Legal compliance in a sector as regulated as banking can be a nightmare. Semantic analysis helps in this area by monitoring communications to discover evidence and managing related documentation (regulations, policies, plans) to identify duplications and inconsistencies, understand it in depth and anticipate impact on the bank's initiatives.
Manage your risks and avoid fraud
Fraud prevention and risk (credit, market, operational) management processes benefit from complementing traditional techniques with unconventional sources of information (e.g., social media) that help build a complete view of the situation.
Develop and retain your talent
In an industry as competitive and technical as banking, having the best talent is paramount. Text analytics allows you to analyze the feedback and interactions of your employees to discover and develop reasons for satisfaction, skills, behaviors and networks of collaboration and influence within the team.
Optimize your contact center
Analyze interactions in your multichannel contact center (call transcripts, email, chat) to route messages, detect root causes, evaluate adherence to a script, ensure regulatory compliance, identify best practices and control quality.
Recommended products for the Banking Industry
Voice of the Customer Vertical Pack for Banking
Understand your customers better by analyzing the unstructured feedback they provide through multiple channels to obtain meaningful insights in several industry-specific dimensions: customer service aspects, quality attributes, companies, banking products, operations.
Financial Industry Vertical Pack
Automatically understand the language of the banking industry by applying the FIBO’s standard vocabulary to detect mentions of financial concepts of all kinds and perform domain-specific text analytics.
Intention Analysis Vertical Pack
Analyze comments on all types of channels to understand the intention in a customer journey: Information, Advice, Purchase, Support, Recommendation, Complaint, Cancellation.
Voice of the Employee Vertical Pack
Understand your employees by analyzing their opinions, ratings and comments in various situations (company surveys, performance assessments, exit interviews) to develop and retain talent in your organization.
These are just some of the MeaningCloud products but there are more. Be sure to have a look at our catalog.
Features highlights
Understands the language of finance
Extract more value from your financial documents and interactions thanks to MeaningCloud’s incorporation of industry standard vocabularies.
Prebuilt solutions for banking
Put your solutions to work quickly in a very wide range of typical scenarios and accelerate your time-to-benefit thanks to MeaningCloud's prebuilt packages: Voice of the Customer, Voice of the Employee, Intention analysis…
Fully customizable
You can easily adapt the operation of our engines to your application scenario using our end-user configuration tools (dictionaries, models…) and thus achieve maximum accuracy in the analysis.
Easy to use and integrate
MeaningCloud is plug-and-play text analytics: integrate it into your systems and processes using its standard APIs and SDKs and use it from your favorite applications: Excel, Google Sheets, RapidMiner, Zapier…
Multilanguage
MeaningCloud understands the world's most widespread languages and will soon cover up to 25 languages.
Affordable and risk free
Start using MeaningCloud with your Free Plan and, if you need it, subscribe to a commercial pay-per-use plan, with monthly fees to enjoy the most advanced text analytics. With no permanence period, no investment and no risks.
