Synechron deploys AI, data science applications for financial services firms

Synechron Inc., a New York-based technology consulting and outsourcing firm, has started deploying data science and artificial intelligence-based applications for banking, financial services and insurance companies.

These applications, or accelerators, will help financial services companies solve complex business problems by discovering relationships between events that impact one another and cause a future event to happen, the company said in a press release.

Faisal Husain, co-founder and chief executive of Synechron, said the data science accelerators provide a powerful causation platform and business-driven use cases for four complex financial services challenges.

Synechron said its s AI data science experts have developed a set of accelerators that allow financial services companies to address business challenges related to investment research generation, predicting the next best action for a wealth management client, high-priority customer complaints, and predicting risk on mortgage.

The accelerators combine Natural Language Processing, Deep Learning algorithms and data science to solve problems. They rely on a powerful Spark and Hadoop platform to ingest and run correlations across massive amounts of data to test hypotheses and predict future outcomes.

The data science accelerators are the fifth accelerator programme Synechron has launched in the past two years through its Financial Innovation Labs, which are operating in 11 cities such as New York, London, Paris, Pune, Bengaluru and Hyderabad.

With data science accelerators, Synechron’s Global Accelerator programmes now include over 50 accelerators for blockchain, AI automation, insurance-technology, regulatory technology and AI data science.