The average bank or credit union has a tech ecosystem full of point solutions. You have your core platform, your loan origination system, a digital banking platform, BSA tools, and so on. Then you have all the tools your customers interact with.
This is where things get complicated.
The data from your customer layer needs to flow into your BSA tool to prevent fraud, for example. That information must also live within your core platform to ensure you have a single record associated with each customer. This enables you to understand their behavior and provide the right recommendations without interruption or inaccuracy.
To try and accomplish this level of customer service today, banks have an exceedingly complicated tech stack, which eventually also runs the risk of proliferating bad or outdated data due to its piecemeal nature. Your engineering team (who’s already underwater) has their work cut out for them, building all sorts of integrations to make sure the flow of data actually works.
Now, consider layering an AI-powered solution into this existing lineup. If your bank implements a chatbot on your website, you’ll have to upload data to help it understand how it needs to operate. And if you decide to use AI to help you with your loan origination process, you’ll need to tell that new system how to operate, too.
Before you know it, you’ve got 7 different point solutions, and you’re feeding every one of them information to optimize them for AI. This is not scalable, especially in such a highly regulated industry.
The Intelligence Core: Defined
Imagine how much simpler it would be if you could inform one single platform - a platform that could consume information and data from all your point solutions via APIs and integrations. You’d be able to create a single source of truth, a system of context where all your data lives and out of which you can operate.
Enter: the Intelligence Core.
The Intelligence Core can learn your entire business, absorb and ingest information in any format, and provide context on it. It’s a far cry from a general purpose solution; rather, it’s built entirely on your institution’s data - it generates outputs based on the information you feed it like internal policies and procedures. And you only need to upload that information once, unless you make updates that need to be reflected.
By connecting institution-specific data, regulatory information, and the various point solutions you already have in your tech stack, the Intelligence Core becomes the living, breathing centerpiece of your bank. It gives you the assurance you need that any recommendation from an AI agent, action taken by an agent, or answer provided by generative AI is based solely on your bank’s intelligence.
Because it doesn’t just have access to every single data point within your institution; it understands how they all relate to each other. It understands how certain signals necessitate certain actions, and can thus trigger responses from the right platform in your stack.
For example, with the Intelligence Core, a fraud detection agent could automatically analyze customers’ transaction history, alert the right stakeholders when fraud is detected, create the necessary documentation, and submit it to the proper authorities.
No toggling between applications or feeding information from one system into another, leaving crucial details to fall through the cracks. With the Intelligence Core, AI-powered solutions have access to the data, policies, and procedures they need to execute accurately and efficiently.
Scale, speed, and security
We’ve said it before, and we’ll say it again: AI is not going to put your banks out of business. Institutions that master it first, however, will.
Mastery looks like unifying your tech stack with one single platform. The amount of efficiencies the Hapax Intelligence Core stands to unlock will give financial institutions of any size the ability to scale at an impressive pace.
And because it operates solely within the institution in question (we call this single-tenant implementation), it bases its outputs only on the data you feed it - as well as the federal and local regulations and deep industry knowledge baked into its design. That means its outputs are always hyper-relevant to your institution, and there’s no risk of data leakage.
In the age of AI, banks don’t need another point solution. They need a knowledge map that understands how their data relates to each other. Because your AI strategy should be built on your own information, not somebody else’s.
If you’re ready to harness the power of the Intelligence Core, contact Hapax today.