Why Financial Institutions Need to Prioritize Risk Mitigation when Choosing an AI Partner 

Early-stage commercialization of ChatGPT and LLMs poses challenges.

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Tech companies driven by market hype are rushing products to market to capitalize on the momentum of ChatGPT, without historical experience, expertise or a complete understanding of the technology or its risks.

As a result, early-stage commercialization of ChatGPT and LLMs poses challenges in controlling issues like hallucinations, bias, and security. There is a lack of clarity in the market regarding the suitability of Generative AI for banks and credit unions. 

Common Risks of Integrating AI Incorrectly  

  • Inaccurate Results (Hallucinations) 
  • Breaches in Data Privacy
  • Compromises to client security 
  • A generic product that doesn’t take into account specific needs, resulting in low-yield results 

How Posh is Mitigating Those Risks 

At Posh, our goal is to safeguard our customers and prospects from these risks that develop as a result of rushed adoption. 

We aim to promote responsible adoption of AI, while maintaining a comprehensive understanding and informing our clients of the potential risks involved. We highly encourage the selection of a reliable partner capable of managing and safeguarding against reputational risks and make our products with this ethos in mind. 

Purpose-Built AI: Posh prides itself on creating purpose-built products. Instead of building generic, one-size-fits-all products, we remain committed to building software that is specifically developed to cater to unique challenges and complexities while adhering to regulations within the financial industry.  We pursue innovation on behalf of finding solutions, not for the sake of wanting to be innovative. 

  • Product Life Cycle: We keep our clients at the center of our pilot programming, meaning clients are involved in the identification, scope, beta testing and delivery phases. This ensures that our products remain grounded in the industry and are specifically solving the real needs of our clients by providing tangible results. 
  • Product Council: Posh’s product council is made up of customers we sell to, ensuring a customer-focused approach to product development. This influences our roadmap and feature priorities. Council members get early access to products, providing feedback before a wider release.
  • Partnership for Life Promise: Through our Partnership for Life Promise, we provide exceptional VIP service that goes beyond the implementation process. This also allows us to keep a constant feedback loop for our products and affords us the opportunity to consistently update and adapt our product based on real-time needs. 
  • Conversational AI is a Purpose-Built Platform, Not an Add-on
  • Posh is an AI-only vendor, meaning we are investing all of our R&D into ensuring the latest AI technology is commercially viable for the banking industry. 
  • We don’t believe in implementing AI for the sake of innovation. AI is a powerful tool but only when deployed correctly.  It’s imperative to find an AI provider that only builds and supports AI and has a full ecosystem to support it. Your customers deserve nothing short of specialized excellence.

Data & Security Protection: Our teams are focused on keeping Posh systems and our client data secure, compliant, and available through a number of security-by-design controls, processes, and procedures. We earn our clients' trust by implementing role-based access controls, the latest encryption standards, high transport security standards, and a number of other risk and threat mitigation controls. Our leading certifications include CSA Star Levels 1 and 2, Soc 2 type 2. 

What Makes Posh Qualified 

  • Rooted in AI: Posh was founded 2018 during one of the most dynamic times for AI technology. Posh started as a conversational AI company for financial institutions and has remained that way since, only building up our expertise. Posh now has voice, digital and knowledge assistant products and more than 50 clients across the banking and credit union space with an ever-growing client base and employee roster.
  • Founder Story: Both Matt and Karan attended MIT where their undergraduate and graduate degrees focused on artificial intelligence. During that time, the two of them began software consulting with enterprises across multiple industries, building a business foundation, and establishing a pathway to the beginning of Posh. 
  • Financial Institution Expertise & Advocacy: With 70+ financial institution clients, Posh remains as the only, purpose-built conversational AI specifically created to solve the issues of financial institutions. 
  • There is no one else who is better equipped or has the backing of leading experts in the banking space, positioning ourselves in a uniquely advantageous position to understand and find solutions to problems.  
  • At Posh, it is our mission to democratize access to banking by empowering financial institutions with the benefits of conversational AI. 

Team of Experts: 

  • We are solely focused on designing, building, and servicing the AI platform, creating a world-class experience for banking institutions and their customers. 
  • Our team is comprised of leading experts from the financial industry, leading AI researchers, and world-class technologists. 
  • 100+ employee workforce based in the US/Canada 

World Class Technology: 

  • Patented context-switching technology 
  • Integrations with top core banking platforms 
  • Utilizing best-in-class technology
  • Posh Portal: The leading platform for AI Management
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