Fujitsu partners with Personetics and Blue Lab to test AI-based personalized banking service

Maria Nikolova

About 300 people, mainly employees from Blue Lab and Fujitsu, will use Personetics Engage from a customer’s point of view.

Novel technologies keep invading the financial services sector, with another piece of evidence of this trend just provided by Fujitsu Ltd (TYO:6702). The Japanese technology giant has unveiled a partnership with Blue Lab Co., Ltd., and Personetics Technologies Ltd. over the testing of an AI-powered solution for the delivery of personalized financial advice to bank customers.

Fujitsu Limited, Blue Lab Co., Ltd., and Personetics Technologies Ltd. have commenced a joint proof of concept (PoC) trial of AI-based solution Personetics Engage. The PoC trial is performed in collaboration with Moneytree K.K. The purpose of the trial is to test the benefits delivered by Personetics Engage and how well its AI-powered insights and recommendations fit with the needs of banking customers.

About 300 people, mainly employees from Blue Lab and Fujitsu, will use Personetics Engage from a customer’s point of view. Fujitsu, Blue Lab, and Personetics will then measure and evaluate the precision and degree of customer satisfaction they have in the solution. Personetics Engage has been implemented by over 20 major banks in the US and Europe, and is currently used by some 50 million digital banking users. By combining various types of AI, the solution utilizes financial industry know-how to deliver personalized, accurate and timely financial advice in tune with the daily lifestyles of users such as their financial behavioral patterns, which includes optimized recommendations, and predictions of cash flow and financial assets.

Based on the trial’s results, the companies aim to build a full-fledged business to provide personalized banking services that can be used by a range of Japanese financial institutions.

The PoC will last from October 17, 2018 to February 28, 2019.

Fujitsu has a solid reputation for investing in and developing novel solutions for the financial services sector. In September this year, Fujitsu Laboratories and Waseda University sealed a comprehensive collaborative activity agreement for joint research on the Digital Annealer – a new technology that is used to solve large-scale combinatorial optimization problems instantly. It has a digital circuit design inspired by quantum phenomena, and can solve problems which are too difficult for classical computers to deal with.

The organizations have established the Fujitsu Co-Creation Research Laboratory at Waseda University, within Waseda’s Green Computing Systems Research Organization, as a joint research organizaiton to promote software development aimed at resolving real world combinatorial optimization problems using the Digital Annealer. The organization draws topics from Waseda University’s entire body of research, using the Digital Annealer to conduct research in a variety of fields, including finance, digital marketing, and logistics.

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