PrivatBank in cooperation with Deloitte increases efficiency of lending services by implementing Artificial intelligence solution

Executing its digitalization strategy PrivatBank implemented SIA “Deloitte Latvia” Artificial intelligence solution, which helps to precisely and timely identify customer’s lending needs and secure branch employees with required information to ease communication with customers. Deloitte produced solution is 100% Latvian-made and fully complies with Latvian financial market specifics.

Artificial intelligence solution helps PrivatBank to better understand its customers, basing on their life span, cooperation history and used product range, and to offer more relevant lending services and plans. All what is left for employees of the Bank is to get in touch with the customer to make an offer or an appointment. This facilitates the work of the Bank’s employees, while customers receive personalized offers, which, due to intellectual solution’s consistently high productivity, allows to decrease service provision costs and secure affordable prices to customers.

Leading partner of Deloitte Latvia Igors Rodins expresses: “Such solution was created thanks to company’s long-term cooperation with Latvian financial institutions and knowledge of the specifics of their work. PrivatBank’s openness to innovation and efficient and close collaboration with Roman Taranov’s Analytics and Information Management team and Andra Liepina’s Financial Advisory team have enabled the development of a digital and highly efficient smart tool that simplifies the day-to-day life of the Bank and ensures high customer satisfaction.”

“I am pleased to note, that PrivatBank is first Bank in Latvia to implement this Deloitte Artificial intelligence solution. Bank’s collaboration with Deloitte is our logical step and strategic decision. Thanks to Artificial intelligence solution developed by Deloitte the Bank will improve the quality of services and level of customer service in lending field by several times. Existing customers’ needs become clearer to us: The Bank uses customer transaction data to offer its customers most relevant lending services. With more relevant Banking services it is understood that the Bank knows its customers very well and only provides information that is relevant to the customer’s needs, for example, when a customer has recently purchased his first home, the Bank will recommend the customer a loan for home improvement.“ – comments Head of the Individual and Corporate Resident Customer Service Department of PrivatBank Anna Svarena.