Technology Record - Issue 22: Autumn 2021

137 F I NANC I A L S E R V I C E S contacted and prefers to use artificial intelligence (AI)-enabled chatbots at his convenience. He has enabled automated notifications to provide daily information on deals and discounts on his regular purchases. As such, the bank has offered him a special 20 per cent discount to be used on his next bicycle service. His bank also helps him create goals based on income from his part-time job and alerts him when his spending spikes. Sofia is a doctor at a leading hospital and is the main provider in her family. She enjoys family activities and prioritises her children’s educa- tion. Her income has allowed her family to live debt-free and develop a portfolio of investments in property and stocks. Based on her spending behaviour, which often revolves around food, her bank makes recom- mendations for top restaurants with personal- ised discounts for family dinners. And with her portfolio of investments in stocks and property, the bank monitors major market trends and events to give her projections and alerts of sig- nificant changes that could impact her. A true contextual experience can be realised by bringing together AI, data analytics, agile archi- tecture, application programming interfaces and cloud-native design. At Intellect Design Arena, we leverage our ‘Design Thinking’ concept to build innovative products and plat- forms for banking and insurance customers. Intellect’s Contextual Banking Experience, an award-winning digital banking platform, ena- bles banks to provide a relevant and frictionless digital experience, which helps them become key partners in their customers’ lives. Rajesh Saxena is CEO of global consumer banking at Intellect Design Arena