Bank Automation News: CIBC app revamp offers AI-powered financial insights
Bank Automation News
CIBC app revamp offers AI-powered financial insights
By Loraine Lawson
February 4, 2021
The $769.5 billion CIBC partnered with Lehi, Utah-based MX Technologies to create the tool, which, helps users build a budget over time, rather than overwhelm them with too many financial decisions at once, said Greg Slade, product general manager at MX.
Slade told Bank Automation News that MX cleans then categorizes bank data using a flexible, cloud-based architecture and machine learning in an AI layer to run an analysis on CIBC customer transaction data.
MX has already received positive reviews from customers about the offering.
“We can see from feedback, the amount of stress reduced in people’s lives, especially in situations like we’re living in right now,” Slade said. “It makes a significant difference to people’s lives and the stress and the pressures.”
Read the full article here.