Path Solutions has revealed its new Intelligent Digital initiative roadmap with the launch of Path Digital and Path Intelligence platforms which will enable forward-thinking banks to maintain competitive advantage by providing their customers with a consistent and seamless intelligent digital banking experience while harnessing the full potential of data.
The breakthrough Path Digital suite is a highly secure, open, scalable, flexible, robust, future-proof, easy-to-deploy, comprehensive open banking platform that connects all of the digital banking channels to the bank’s services and applications such as core banking, CRM and payment systems, empowering the bank to deliver a unified, seamless omnichannel user experience across all channels, applications, and devices. This cutting-edge platform helps banks transform multiple siloed banking channels into a rich, simplified, personalized, timely, consistent, seamless, and frictionless customer journey. It also allows banks to immerse into their customers’ life journeys, gain customer insight, improve customer interaction and engagement, while optimizing the value of each customer relationship across all touchpoints.
Whereas Path Intelligence is a platform with the ability to integrate with any core banking system enabling banks to harness data and analyze it intelligently using the Enterprise Data Lake (EDL), providing a significant competitive advantage to the bank by helping it transform its business to becoming analytically-focused and customer-centric. This platform includes a new Business Intelligence suite which empowers organizations to make smarter, faster, and more effective decisions. Besides, the solution enables business agility, optimizes operational efficiency, and drives innovation, competitive differentiation, and profitable growth.
The ML-driven module enables banks to leverage both structured and unstructured data, and transform it into valuable intelligence and predictive insights, with customized AI-based solutions covering customer insights, risk analytics, fraud detection and other tailored applications. The new AI-powered anti-fraud capability enables banks to create seamless customer experiences while providing new levels of protection.
While unveiling the suite of new technologies, Mohammed Kateeb, Group Chairman & CEO of Path Solutions, commented, “Innovation lies at the core of our business model. Our goal is to create transformative banking experiences which are customer-focused”.
He continued, “Few years from now the banking industry will look dramatically different. The digital revolution is impacting every part of our lives; banking is becoming a competitive battlefield where only the most efficient, adaptive, and inventive survives. Consequently, Path Solutions has been investing in emerging technologies as a means to support banks and financial institutions in their digital transformation and help them move their customer-focused digital strategy forward, harnessing AI’s full potential”.
“We will assist banks to fully embrace digital transformation with technology-driven approaches while simultaneously gaining industry insights into a profoundly changing banking regulatory environment”, Kateeb said. “We are executing on our strategy and differentiating our value proposition. Our Path Intelligent Digital will enable banks to drive deeper customer engagements, transparency and agility for innovation-led growth in a challenging, new financial services ecosystem. This is only made possible through a unified open banking platform, a key ingredient in immersive, interactive experiences”.