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09.05.17

Crealogix Bolsters Digital Banking with AI Tech Buy

Swiss digital banking company Crealogix has bolstered its artificial intelligence (AI) and machine learning capabilities with the acquisition of new technology from Koemei, reports Julie Muhn at Finovate (Paybefore’s sister company).

Crealogix will tap Koemei’s technology that uses automated speech recognition to convert audio, podcast and video content into text data, which facilitates cross-media search capabilities.

The platform is scalable for large, multimedia data sets and uses machine learning to analyze and optimize multimedia content. The University of Geneva has used Koemei’s technology to process 5,000+ hours of lectures, integrating the content with user-friendly text document searches.

To suit its business needs, Crealogix is adapting Koemei’s technology to suit the requirements of its customers by offering concept search, content analytics and statistics.

Urs Widmer, CEO of Digital Learning at Crealogix, says the new technology “is helping to secure added value and a competitive edge for our customers.”

Artificial intelligence and machine learning have been at the core of several recent payments announcements, including Mastercard’s Brighterion buy and Bank of America Merrill Lynch launching an AI-powered accounts receivable platform.

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