The recent surge in artificial intelligence tools like ChatGPT has caught the world by storm, including the banking industry. As the use of chatbots and virtual assistants increases, we’re seeing a clear shift toward using automated technology to enhance customer service and streamline operations.
However, as financial institutions increasingly adopt these technologies, the spotlight has been shifting toward the potential risks associated with improper deployment. This is especially true as the Biden administration recently announced a new executive order that aims to crack down on AI risks and cybersecurity.
So what is Posh doing to stay vigilant and mitigate potential issues for our customers? To understand that, we must first discuss what exactly the risks are.
In the rapidly evolving landscape of AI solutions, mistakes or errors in deployment can easily introduce risk into banking operations. That’s why it’s crucial to work with a software provider like Posh that takes the utmost care in developing and deploying purpose-built AI tools that make your life easier, not harder.
When it comes to AI models for financial institutions, such as those used in customer service bots and virtual agents, there are three common risks that we’re addressing:
At Posh, our primary goal is to promote the responsible, safe adoption of AI tools to deliver exceptional customer service and streamline banking operations. As innovators in the field of AI, it’s our responsibility and mission to minimize the potential risks to our banking partners.
To ensure we’re doing our part and provide our partners with peace of mind, we:
Posh upholds the integrity of our AI training data through meticulous validation, ensuring it remains free of inaccuracies or malicious elements with our rigorous quality checks and human review processes.
We employ cutting-edge cybersecurity measures that act as a shield to protect any potential data or models from poisoning attempts. Our stringent security protocols help safeguard our AI models from unauthorized manipulation or harmful data infusion.
Our AI solutions seamlessly integrate with your core banking systems to enhance their efficiency without disrupting your current operations. Tailored integrations facilitate this smooth translation, allowing your existing systems to work in synergy with Posh’s AI technology.
Posh prides itself on being thorough and transparent. We follow leading industry standards and protocols, along with strict internal security controls to ensure our AI solutions meet the highest regulatory and security standards in the banking industry.
Our teams hold top certifications in data security, including CSA Star Levels 1 and 2, and SOC 2 type 2 attestations. By implementing the latest encryption standards, role-based access controls and a number of other risk and threat mitigation controls, we continue to earn and keep our partner’s trust.
These multifaceted risk mitigation efforts encompass all of our AI banking solutions. Banks can leverage our AI-enabled Voice, Digital and Knowledge Assistants to understand what the user intends with each query.
We categorize this intent into 3 different categories:
Discover our robust suite of AI-powered banking solutions:
Our Knowledge Assistant transforms your frontline operations with intelligent knowledge management. Quick, efficient access to information reduces handling times and cuts search times by 93% — all while supporting a better customer experience. Find out how this efficient, plug-and-play solution can optimize your call center operations.
Voice Assistant is a dynamic tool that elevates customer service with 24/7 AI-driven support. This solution enhances contact center operations by handling routine customer interactions on behalf of live agents, giving them more time to focus on high-value tasks.
Digital Assistant helps your customers complete key banking tasks and find information in your digital channels. This conversational AI chatbot guides users through a convenient experience, handling common questions and redirecting complex requests to a human agent when needed.
Posh Portal acts as the central hub for managing your solutions and entire AI strategy. With a powerful suite of tools for content creation, data insights, real-time chat logs, personalized conversation flows and more, it’s the most comprehensive solution for all your AI management needs.
Want to see what Posh can do for your financial institution? Request a demo today.