3 Banking & Finance Banking & Finance

[Finance3] High cost of branches against decreasing number of transactions

Submitted by admin on Thu, 08/11/2022 - 08:00

High cost of branches against decreasing number of transactions

[Finance1] Difficulties in making financially wise decisions

Submitted by admin on Thu, 08/11/2022 - 08:10

Difficulties in making financially wise decisions

[Finance2] Safety concerns at ATMs

Submitted by admin on Thu, 08/11/2022 - 08:20

Safety concerns at ATMs

5G for Banking & Finance

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Pain points in the Banking & Finance industry

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Pain Point 1

Difficulties in making financially wise decisions

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Pain Point 2

Safety concerns at ATMs

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Pain Point 3

High cost of branches against decreasing number of transactions

Explore Solutions
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How 5G-enabled digital solutions can help

5G can connect customers with bank representatives/AI in real-time virtually anywhere, and the presence of crucial data and big data analytics can help better serve customers.

Data flow

Step 1: Devices

Step 1: Devices More Information
  • Access to accurate data to validate financial transactions
  • Time critical data on the edge close to the user
  • Fast access to external data sources

Step 2: Connectivity

Step 2: Connectivity More Information
  • Data available on edge
  • 5G as base for fast access to large amounts of data with real-time response

Step 3: Edge Compute

Step 3: Edge Compute More Information
  • 5G real-time: All relevant data, AI and other apps stored here for immediate access and execution for decision making

Step 4: Cloud Compute & Storage

Step 4: Cloud Compute & Storage More Information
  • All data stored in enterprise data storage, where data ownership belongs to the company

Step 5: Applications & Services

Step 5: Applications & Services More Information
  • Expectation that activities will take place primarily at the edge
  • Non-time critical decisions needing AI/ML made here

Step 6: Inform Decision Makers

Step 6: Inform Decision Makers More Information
  • End-to-end workflow

Step 7: Support Decision Making

Step 7: Support Decision Making More Information
  • End of process

Application logic

Scenario 1

  • List the important data sources including external data such as credit ratings.
  • Determine impact of edge and 5G with access to real-time data for decisions.
  • Determine how AI could assist (e.g., ML analyses historical transactions that may influence future transactions).
  • List the important workflows and decide in what order to implement them.

Scenario 2

  • SMEs and data scientists will collaborate to develop AI financial models.
  • Expect that we need multiple teams given the breadth of the decisions.
  • Real-time interaction will also take place through mobile devices accessed anywhere by the customer.

Scenario 3

  • Most of the AI work will be Edge based given the real-time nature.
  • Configuration of edge capacity required.
  • Ensure that ML model decisions and learnings are fed back into the next generation of models.
  • Keeping track of past decision and use as input for all new decision.
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Expected benefits

  • Access to advisory services increase beyond urban areas
  • Higher quality of data leads to improved decision making and reduced risks for banks

Note: 

iconAI – Artificial Intelligence

iconML – Machine Learning

iconMV – Machine Vision​

iconSME – Subject Matter Expert

iconP&ID - Piping and Instruments Diagram

iconGHG - Greenhouse Gas

iconIT - Information Technology

iconOPAF - Open Process Automation Forum

iconOT - Operational Technology

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Key value created

  • Real-time access to data leads to better decision making

Email us at:

enterprise@digital-nasional.com.my

Phone number:

0123456789

Potential

COGNITE
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How 5G-enabled digital solutions can help

Smart ATMs running on 5G equipped with cameras and AI can provide added security with facial recognition and detect suspicious behaviour in the surroundings before taking the necessary actions (e.g., alerts, shutting off, etc.).

Data flow

Step 1: Devices

Step 1: Devices More Information
  • Cameras will gather high-definition images and video data
  • Other sensors collect data about the state of the ATM (e.g., lights, function, equipment, etc.)

Step 2: Connectivity

Step 2: Connectivity More Information
  • All data collected available on edge
  • Event data about the status

Step 3: Edge Compute

Step 3: Edge Compute More Information
  • With 5G, MV and ML applied to monitor status, environment, and internal components in real-time
  • AI will be required to run autonomously in critical situations 🡪 Call out the police as an example

Step 4: Cloud Compute & Storage

Step 4: Cloud Compute & Storage More Information
  • All data is stored in enterprise data storage, where data ownership belongs to the company

Step 5: Applications & Services

Step 5: Applications & Services More Information
  • Expectation that activities will take place primarily at the edge

Step 6: Inform Decision Makers

Step 6: Inform Decision Makers More Information
  • Operations team will be informed in real-time in the case of abnormal situations

Step 7: Support Decision Making

Step 7: Support Decision Making More Information
  • End of process

Application logic

Scenario 1

  • Collect all necessary data to apply AI (ML & MV) to ATM operations to reduce technical issues/damage/ etc:
  • Cameras gather data of ATM surrounding and users
  • Other sensors gather data on ATM internal components
  • Historical data will be stored in Enterprise storage and used to improve AI models.

Scenario 2

  • MV will validate ATM surrounding, analysing normal versus abnormal behaviours using historical data.
  • MV can be applied for facial recognition to authenticate users and alert if necessary.
  • Personal data protection of customers will need to be considered and adhered to.
  • SMEs and data scientists will collaborate to develop models.

Scenario 3

  • Most of the AI work will be Edge based given the real-time nature.
  • All data is required to be stored in enterprise storage to improve AI model quality.
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Expected benefits

  • 5G enables sensor and cameras to be installed with minimal wires
  • Reduce risks of ATM attacks
  • Reduce fraudulent transactions

Note: 

iconAI – Artificial Intelligence

iconML – Machine Learning

iconMV – Machine Vision​

iconSME – Subject Matter Expert

iconP&ID - Piping and Instruments Diagram

iconGHG - Greenhouse Gas

iconIT - Information Technology

iconOPAF - Open Process Automation Forum

iconOT - Operational Technology

icon

Key value created

  • Real-time monitoring of ATMs reduces safety risks and improves reaction time

Email us at:

enterprise@digital-nasional.com.my

Phone number:

0123456789

Potential

COGNITE
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How 5G-enabled digital solutions can help

Using 5G, it should be possible to reduce the infrastructure and running costs of branches.

Data flow

Step 1: Devices

Step 1: Devices More Information
  • Terminals set up to connect to 5G through a router
  • Collect information on usage of each branch: Data + Sensors
  • Cloud base services accessed through 5G enabled mobile phones 🡪 No need for branch

Step 2: Connectivity

Step 2: Connectivity More Information
  • Images transmitted to edge and enterprise storage

Step 3: Edge Compute

Step 3: Edge Compute More Information
  • Edge facilities used for time-critical activities/transactions: Focus at customer assistance
  • Other activities to be cloud-based

Step 4: Cloud Compute & Storage

Step 4: Cloud Compute & Storage More Information
  • All data stored in enterprise data storage, where data ownership belongs to the company

Step 5: Applications & Services

Step 5: Applications & Services More Information
  • Non-critical MV/ ML models: Predicted usage base/branch
  • Critical activities at the edge

Step 6: Inform Decision Makers

Step 6: Inform Decision Makers More Information
  • Operations only notified of issues which cannot be solved by AI

Step 7: Support Decision Making

Step 7: Support Decision Making More Information
  • End of process

Application logic

Scenario 1

  • Identify time-critical activities required to be done, assign them to the Edge computing facility.
  • Deliver banking services through 5G as the end-to-end communication network, allowing complete mobility (e.g., pop-up at community centres, small setup in shared premises).
  • Network and other applications will connect back to the central bank network and cloud.

Scenario 2

  • Determine whether special remote banking terminals are needed to offer integrated services.
  • AI (ML) models can be used to provide guidance and advisory to remote bank personnel: Expected questions and potential answers, NLP (Natural Language Processing) could be of use here as well.
  • Keeping track of activities / branch; Predict (AI) for the future and adjust branch activities as such.
  • Having an ongoing focus at what can be done on mobile devices.

Scenario 3

  • AI will be edge and cloud-based.
  • Edge is only needed for time-critical transactions.
  • Review services rendered, consider pop-up bank branches, using mobile phones as an end point or remote video service for complex advisory services.
  • Communication with customers could progress towards an XR experience.
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Expected benefits

  • Reduced costs justifies retainment of smaller bank branches in remote locations
  • Continue to provide personalised service to non-tech savvy customers

Note: 

iconAI – Artificial Intelligence

iconML – Machine Learning

iconMV – Machine Vision​

iconSME – Subject Matter Expert

iconP&ID - Piping and Instruments Diagram

iconGHG - Greenhouse Gas

iconIT - Information Technology

iconOPAF - Open Process Automation Forum

iconOT - Operational Technology

icon

Key value created

  • Reduce cost through branch size reduction but still provide service continuity

Email us at:

enterprise@digital-nasional.com.my

Phone number:

0123456789

Potential

COGNITE

Cross-industry solutions

Autonomous robots and aerial drones can traverse harsh and dangerous environments and reduce hazard risks for human workers. Such technology will provide enhanced monitoring and safety upkeep for facilities. They can be fitted with various sensors geared towards the purpose they are meant for and by using 5G, we can deploy them in real-time whereby the data collected can be sent directly to an AI application for investigation and immediate further action.

Wearable technology allows security and medical personnel to conduct background and health checks efficiently. Of course, they have a much broader focus and can be used in many different industries where clothing has been enriched with wearable technologies. Wearables are also able to collect extra information for a 5G-enabled digital service.

Sensors are crucial for capturing real-time data and insights and pave the way for more informed decision-making. Sensors will be the data collection point for every 5G-enabled digital service and therefore will have to cover a broad spectrum of types of information to be collected and the way they are connected to the DNB 5G network.

XR is set to take work and play to the next level with cutting edge technology never seen before. These devices have the potential to boost productivity and enhance entertainment, changing the way we experience our reality through digital transformation. There is an increasing broad spectrum of devices available for both consumer and enterprise markets, making it increasingly important for each user experience.

DNB Ecosystem

Disclaimer of Endorsement

All information provided on potential 5G-enabled solutions and potential vendors is provided for information purposes only and based on our awareness of the available 5G-enabled solutions and potential vendors in the market. It does not constitute endorsement, recommendation or favouring by DNB. It is your responsibility to verify and evaluate such 5G-enabled solutions and potential vendors. DNB is not an agent or legal representative of any of such 5G-enabled solutions and potential vendors, is not associated or endorsed by such potential vendors, has no authority to act on behalf of any such potential vendors, and will be an independent party if you enter a business relationship with such potential vendors. Third party links included are for convenience only and are not under DNB’s control. DNB does not assume any responsibility or liability for your use of such third-party links.

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