Understanding the potential of computer vision

Tackle AI CTO explains how financial services can leverage this evolving AI technology

Show Notes

Computer vision is a form of artificial intelligence that can help manage data, explains Tackle AI co-founder and Chief Technology Officer Sergio Suarez Jr., in this episode of “The Buzz” Podcast. 

Currently, the financial services industry’s use case for the technology is in mortgages, where banks are utilizing it to assess risk. Computer vision can sort through pages of documentation to pull out key information, Suarez explains. 

“[Bank have] got to look for a bunch of data points that will help them make the determination whether it's good or bad,” Suarez tells Bank Automation News. “We're very good at looking through them and pulling out all the things we are looking for, such as … what's the interest rate? What's the amount of this loan? [Has the consumer] been late paying? How many times were they late?”  

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The new podcast covering current trends and intriguing topics in automation and beyond courtesy of Bank Automation News, the definitive source for insights and news surrounding automation in financial services.

Formerly Bank Innovation, since 2009 Bank Automation News has been at the forefront of tracking the evolution of digital banking. With the future of innovation pointing to opportunities in automation, we have transitioned the focus of our coverage to continue to provide insights and information that guide industry professionals to better results.

Automation is the next frontier of financial services technology. It will improve or transform most banking processes from customer experience to compliance, lending solutions and investment. Automation technology will create the greatest transformation at financial institutions since the digitization of financial services in the wake of the Credit Crisis. Banks that are not already investing in automation technologies must begin shifting their focus to remain competitive. This transition requires investment in training and educational resources.

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