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Corby - AI Core Banking Bot
TekMonks Corby is the world's first core banking AI bot, designed to integrate into existing banking systems and facilitate secure transactions using IBM's Watson AI engine. It aims to revolutionize the banking industry by implementing advanced features like multi-factor authentication and compliance with banking regulations. The platform offers a seamless onboarding experience with zero changes to existing systems, enabling banks to leverage high-performance, AI-driven banking solutions rapidly.
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Corby - AI Core Banking Bot
- 1. TekMonks Corby – World’sfirst Core Banking AI BOT 1
- 2. • A fullservice, fast growing, and highly skilled technology firm. • US founded and headquartered, advanced IBM business partner • Zero debt company with a de-risked operating model, maintaining two years of operating cash reserves. TekMonks – Global, Skilled and Successful 2 Vision Statement To be a reputable Global Corporation providing quality solutions for business issues using technology and highly skilled people. • 98% rate of repeat business, history of success and satisfied clients. • ISO 9001:2015 QMS certified
- 3. TekMonks Operates from6 Countries, 7 Major Cities 3 CANADA - TORONTO 1 Development Center 1 Office USA - CHICAGO 1 Development Center 1 Office JAPAN - TOKYO 1 Development Center 1 Office INDIA – NEW DELHI, BANGALORE 3 Development Centers 2 Offices Europe – U.K - LONDON 1 Development Center 1 Office SINGAPORE 1 Development Center 1 Office AUSTRALIA (3Q 2016) 1 Development Center 1 Office
- 4. 4 AI – Theoncoming wave
- 5. Why? The comingof AI Transactional Bots 5
- 6. 1. Apple has400m account holders holding an Apple Store or iTunes account, that’s more than the top 3 banks in the world have in retail banking customers. 2. Starbucks, which processes more than 2m transactions every week in the US, took in deposits of $3 Billion on their in-store App-based debit or gift card this year. That’s more than the 6,985 smaller institutions in the US who on average have around $185m in deposits. Imagine that! A coffee company that is better at taking deposits than 95% of the FDIC insured banks in the US, and they don’t even have a banking license. 6 Banking disruption – startling facts…
- 7. • iTunes deeplyaffected Music Studios business – customers are loyal to Apple not the music studios, which lets Apple decide the pricing and business direction. • Kindle deeply affected Publishers – customers now primarily purchase books from Amazon, and read on Kindle. Publishers are not fully in control of their business. • AI will do the same to banking – if banking bot is not controlled by the bank, then the banking business will move to the company owning the bot as well. The question is will it be a Bot run and controlled by YOUR bank, or a bot controlled by Google, or Apple, or someone else. Client retention depends upon being able to bring clients to YOUR platform. 7 AI bots will take over banking…
- 8. 8 AI – CoreBanking Is Not Easy
- 9. A core bankingAI bot replaces existing Apps and Websites. Any banking bot requires… • Integration into core banking systems • Needs a mature platform which can perform transactions • And a mature AI engine which can correctly understand transactional requests For decades, IBM mainframe and AS/400 systems have powered banking transactions. • Integration – zConnect for mainframes and API400 for AS/400 systems • Transaction – IBM transaction engine powers the solution • Mature AI – IBM Watson is the most mature AI engine available Core banking bot – Why you need IBM and TekMonks 9
- 10. Core-B (pronounced Corby)is world’s first and most mature Core Banking transactional bot. • Not a help bot, we are moving past the non-business AI engines • Designed to perform banking transactions • It is a platform! - Designed to be a core banking AI platform • Built on IBM Watson AI engine • Deep and proven integration • TekMonks API400 can integatre with AS/400 core banking systems • IBM zConnect provides integration for Mainframe based systems Built on IBM StrongLoop and IBM transaction managers, guaranteed reliable transactions and non-repudiation to conform to banking regulations and standards. Core-B Banking Platform 10
- 11. • User Authentication– PCI compliant • Out of box integration with existing ID systems • Multi factor authentication compliant • Transfers • Between accounts • Bill payments • SWIFT transfers / GIRO / ABA Routing • eTransfers to Friends and Family • Add / modify / delete payees • Services • Branch / ATM locator • Calling facility • Bank Statements • Other services • Report stolen cards Corby Features 11
- 12. • Business Services •Invoice payment • Invoice listing • Cash flow calculations • Check image deposits • Dispute Framework • Credit card disputes • Fraud reporting • Fraud check and prevention resolution • Marketing Framework • Recommend credit products • Recommend other banking products based on rules • Voice Recognition for voice conversations Upcoming Features 12
- 13. Corby is designedwith various banking regulations and standards in mind • It is fully PCI compliant • Strong authentication • Not vulnerable to Phishing or emerging threats • Built in non-repudiation and transaction manager • Compliant with all banking regulations like AML, transaction limits, etc. Corby is designed to be a core banking platform • Buy versus Build – best of breed features and continuous evolution • Built on strong IBM Enterprise technology that already powers most banking systems • Template based, customizable to bring online other products and processes within one integrated Core Banking Platform. Designed for Banks with Banking knowledge 13
- 14. • Zero changesrequired to existing core banking systems or systems! • Minimal to zero resources required to on board Corby • Low cost to go live We can prove this with a no cost, no changes and no resources required POC! This is because Corby embeds TekMonks’ AI Web Agent engine allowing Corby to carry out transactions using existing Online Banking Website, thus requiring zero changes to existing systems, and ensuring compliance with all banking regulations already built into the core systems today, Automatically! Onboarding Corby- Zero risk, quick speed 14
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- 16. 16 Feature AI Agentbased Lightweight Integration Deep Integration Quick, Zero Risk, Fast and cheap on resources High Performance Compliant with all banking regulations - automatically Supports new features not present in online banking yet Fully Secure Fully Supported by Corby
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- 19. 1. Ask usfor a no obligation POC. 2. Corby can quickly bring online most advanced AI technology for AI based banking transactions 3. Don’t build from scratch, buy off the shelf! 19 Next steps