Crédit Mutuel-IBM partnership: artificial intelligence

Crédit Mutuel-IBM partnership: artificial intelligence


Technology is currently serving all sectors, and Crédit Mutuel is not excluded. Thanks to the partnership with the IT services and hardware giant, IBM, the mutual bank adds innovation to its processing processes . Consumer loans, payments and savings formulas within the establishment benefit from the development of Artificial Intelligence. Focus on this Crédit Mutuel innovation!

Watson, available to Crédit Mutuel employees

The mutual bank and the American firm IBM renew their cooperation. This was confirmed in May, during the Salon Viva Technology in the French capital. The first collaboration between the two institutions was a success, which explains the enthusiasm of each party in pursuing the partnership.

The Watson device for the bank

March 2017 is when designers started integrating Watson. It is a device set up from Artificial Intelligence. IBM allows the bank to use it to innovate in the world of cooperative finance . What function does the device provide? Watson analyzes the emails received. He arranges them according to their urgency. In addition, users can ask questions in human language. The tool provides the exact answers using the data already integrated.

How is Watson used?

Clients of some institutions benefit directly from the service of the Watson device. This serves as their virtual advisor for information requests. This is the case for Royal Bank of Scotland and the mobile online bank, Orange Banque, which you can notably find on . At Crédit Mutuel, the use of the tool is the responsibility of the bank’s advisers, knowing that its employees reach a workforce of around twenty thousand in all the branches.

Performance on the rise

Since the implementation of Watson, a strong improvement in the service has been recorded . This translates firstly into the acceleration of responses to requests for information and assistance. Every day, assisted consumers reach 350,000 individuals.

Advisors cut subscriber wait times in half or more with Watson. According to statistics, the response time of account managers at Crédit Mutuel is accelerating to 60%. The cooperative bank tries to transform these potentialities into tangible results . Consumer satisfaction is, first and foremost, the goal to be achieved.

The integration of artificial intelligence also reduces risk and improves compliance. When communication between advisor and client improves and speeds up, there are more payments and other transactions.

Inauguration of the Cognitive Factory

The collaboration between IBM and Crédit Mutuel is further strengthened in the launch of this creation incubator. The Cognitive Factory includes the work of several types of experts for the purpose of innovation.

  • Specialists from all parties: Artificial intelligence professionals at IBM bring their know-how to the project. They use innovative techniques with state-of-the-art tools. As the solutions are designed for the world of bancassurance, professionals in the field must also bring their tasks into the work. Banking specialists from Crédit Mutuel join forces with IBM experts.
  • Transform the bank’s growth potential: Whether with the launch of the Watson device or other projects, the integration of new technology gives the bank a boost . This offers consumers more effective advisors thanks to the artificial intelligence integrated into the means of intervention. With the Cognitive Factory, the productivity of the establishment increases considerably . Crédit Mutuel will then be able to offer new services in an innovative way to all its customers. This possibility of change will allow the bank to record unusual growth.