How to Transform AI into a Useful Work Tool in Corporate Banking

The decision to create our own CRM system instead of using market-ready solutions was driven by several key factors. Firstly, the RBI Group operates in a specific business environment with a unique business model across multiple countries in Central and Eastern Europe, which would be difficult to replicate in standard CRM systems. Secondly, our custom solution allows for a faster response to dynamic market changes and the implementation of new features based on current user needs. Cost was another significant factor—maintaining an in-house development team proved more economical than adapting, licensing, and maintaining off-the-shelf products. Lastly, having full control over the code allows better risk management and customization to the company’s specific requirements.

Copernicus is built on four main pillars that provide a comprehensive view of the corporate client:

• Client Products- Information on all the bank products the client uses.
  
• Client Relationships - Managing client relationships and related activities.
• External Client Data - Aggregating market data and news about the client to better understand their situation.
• Insights and Recommendations - Data analysis that allows for insights and action suggestions, such as sales recommendations.

One of the most critical elements of the Copernicus system is its ability to integrate artificial intelligence, significantly increasing its functionality. For example, the process of preparing for client meetings is a key functionality of any CRM system. Our goal was to build this application component to deliver maximum value to users while ensuring transparency and the ability to generate reports and summaries regarding individual employees' activities. This feature enables advisors to generate documents containing essential client information and meeting topics for themselves and other interested employees. The module includes data such as the client’s financial results, how they use banking products, the last contact with the client, and any open tasks related to them. Additionally, the module provides an agenda with a detailed meeting plan. 

Furthermore, key market information gathered from various news sources about the client is included. This information is presented as a textual summary and links to articles where the source of the generated summary can be found. This allows users to quickly determine if there has been a significant change in the client’s strategy, any recent success, or a new opportunity for collaboration. These insights are generated using generative intelligence, saving users time by eliminating the need to search and aggregate this data manually.

The system uses advanced AI algorithms to collect and process market data. By collaborating with external data providers, Copernicus can process vast amounts of information from billions of articles and millions of sources. This process includes several key stages:

• First, the system queries external databases for the latest and most relevant information about a specific client.
  
• Next, AI analyzes this data, extracting key headlines and excerpts from articles that may be relevant to the advisor.
• Finally, based on the collected information, the system generates reports that advisors can review before meetings, ensuring comprehensive preparation.

For Copernicus, this is relatively straightforward since the system was developed for employees responsible for maintaining relationships with corporate clients and financial institutions. Information about such companies, often publicly listed, is relatively easy to find, making the task easier compared to smaller, territorially limited companies. 

However, the system must also often match shortened company names to search the internet and find information in the appropriate context. For example, the commonly used name of our bank, RBI, is an obvious reference to Raiffeisen Bank International for us. A quick Google search shows that it could also mean Reserve Bank of India. Such nuances must be planned for and the model appropriately trained.

• Quick and Efficient Meeting Preparation - Automation of data collection and analysis processes allows advisors to prepare quickly and efficiently for client meetings.
• Better Client Understanding** - Access to the latest market information allows for a better understanding of the client’s situation and needs.
• Increased Efficiency** - Process automation frees up human resources that can be directed towards more creative and valuable tasks.
  

The use of AI in corporate banking, as demonstrated by the Copernicus system within the RBI Group, can significantly enhance efficiency and customer service quality. Through innovative solutions and the integration of advanced technologies, RBI can respond faster to market needs, better understand its clients, and provide more personalized services. The implementation of AI in Copernicus is just one of many examples of how modern technology can transform traditional sectors, benefiting both banks and their clients.

The use of AI as a useful work tool in corporate banking was the topic of our presentation at the AI & Business Analytics conference. In the presentation, we discussed the ways AI can be utilized in corporate banking, focusing on the CRM system case in the RBI Group. We showed how AI can improve business processes, data analysis, and customer service in the financial sector. Participants also learned how AI application can increase operational efficiency, improve customer service personalization, and optimize decision-making processes in corporate banking. If you missed it, we invite you to watch the recording of the conference.