Tool Information
Cascading AI is a tool that aims to automate manual banking processes using advanced AI capabilities. Specifically, it offers a solution for document collection needed for loan applications, account opening, Know Your Customer (KYC)/Know Your Business (KYB) procedures, and more. The tool allows AI agents to communicate with customers through text, email, or phone calls, collecting necessary documents such as pay stubs, bank statements, tax returns, and certificates of good standing. It also facilitates document analysis and follows up with clients to resolve any discrepancies, potentially increasing conversion rates while saving time previously spent on manual customer communication.Additionally, Cascading AI provides customer service support by leveraging AI agents to cluster customer complaints, understand areas of concern, and generate responses based on bank policies and information stored in the bank's systems. This can lead to improved customer satisfaction through rapid responses and a decrease in customer support costs.Furthermore, the tool offers back-office automation capabilities for tasks like payments exception handling and securities settlement. Its AI agent can navigate core banking systems, gather information, and make recommendations. It can also analyze non-STP (Straight-Through Processing) exceptions that rules-based bots may struggle with. This can increase STP rates and reduce manual efforts in the back-office.Cascading AI works with leading core banking systems and technology providers, eliminating the need for building custom interfaces and infrastructure from scratch. The company has solid funding, strong connections to Silicon Valley, and brings top talent from Stanford University. It offers a waitlist for those interested in exploring the tool's potential for various AI use cases across different banking functions.
F.A.Q
Cascading AI's main purpose is to automate manual banking processes through advanced AI capabilities. It provides solutions for document collection for various procedures and offers customer service support while also featuring back-office automation capabilities.
Cascading AI assists with document collection for loan applications by using AI agents that interact with customers via text, email, or phone calls. These AI agents collect necessary documents like pay stubs, bank statements, tax returns, and certificates of good standing.
The AI agent in Cascading AI is in charge of customer interactions through various modes of communication like text, email, or phone calls to collect necessary documents for different procedures. The AI agent is also capable of analyzing these documents and following up with clients to resolve discrepancies.
Cascading AI facilitates document analysis through its AI agent. The agent gathers necessary business or personal documents from customers, analyzes them for accuracy and relevance, and can follow up with clients to resolve any issues it finds during this analysis.
Cascading AI can enhance customer service support through AI agents that cluster customer complaints to understand areas of concern. These AI agents then generate responses based on information from the bank's policies and systems. This can improve the speed of responses and potentially increase customer satisfaction while decreasing customer support costs.
Cascading AI clusters customer complaints through its AI agents. These AI agents analyze the nature and context of the complaints to identify patterns and common areas of concern, allowing the business to respond effectively and improve customer satisfaction.
Cascading AI decreases customer support costs by implementing AI agents that analyze and respond to customer complaints based on the bank's policies and systems. This rapid, automated response system can decrease the time and human resources previously required for customer service, thus reducing costs.
Cascading AI can be used in back-office automation for tasks such as payments exception handling and securities settlement. Its AI agent navigates core banking systems to collect information and make recommendations. It can also analyze exceptions that rules-based bots might struggle with, increasing STP rates and decreasing manual efforts.
The AI agent in Cascading AI can perform tasks such as payments exception handling and securities settlement in back-office automation. The agent navigates through the core banking systems, gathers pertinent information, and makes necessary recommendations to improve efficiency.
Cascading AI handles non-STP exceptions by deploying its AI agent to analyze and address these exceptions. As a result, it increases STP rates and cuts down on manual labor in the back-office.
Cascading AI increases STP rates through its AI agent's ability to handle and resolve non-STP exceptions that rules-based bots might have difficulties with. This improves process efficiency and reduces manual efforts.
Cascading AI can integrate with existing banking systems because it works with globally leading core banking systems and technology providers, eliminating the need for building custom interfaces and infrastructure.
No, Cascading AI does not require building custom interfaces and infrastructure. It works congenially with globally leading core banking systems and technology providers, saving banks from the effort and time needed to build custom infrastructure.
One can start using Cascading AI by joining the waitlist provided on their website. After submitting the necessary details, such as name and work email, one could potentially start exploring the tool's capabilities.
Cascading AI is supported by top Silicon Valley investors and brings top engineering talent from Stanford University, making it a highly credible and reliable tool for financial institutions.
One can join the waitlist to explore the potentials of Cascading AI by providing their name and work email on the waitlist submission form on their website.
Cascading AI aims to unlock the value of advanced AI for global banks by automating manual banking processes, improving customer service, and enhancing back-office operations. This gives banks the opportunity to streamline their operations and scale without a proportionate increase in costs.
Cascading AI can help collect various documents required for banking processes such as pay stubs, bank statements, tax returns, and certificates of good standing.
Cascading AI's primary users are financial institutions that are looking to automate their banking processes, improve customer service, and enhance their back-office operations.
Cascading AI can increase conversion rates compared to traditional workflows by automating document collection and follow-ups with customers. This can save hours usually spent on the phone or email chasing after customers and reduce discrepancies, hence improving the overall conversion rate and efficiency.
Pros and Cons
Pros
- Automates banking operations
- Automated customer support
- Facilitates document collection
- Effective communication with clients
- Resolves document discrepancies
- Potentially increases conversion rates
- Saves time on customer communication
- Clusters customer complaints
- Generates response based on policies
- Improves customer satisfaction
- Reduces customer support costs
- Offers back-office automation
- Handles payments exception
- Handles securities settlement
- Navigates core banking systems
- Makes recommendations
- Handles non-STP exceptions
- Increases STP rates
- Reduces manual effort
- Compatible with leading banking systems
- Eliminates need for custom interfaces
- Strong connections to Silicon Valley
- Top talent from Stanford University
- Solid funding
- Offers comprehensive ML platform
- Single solution for data analysis
- Streamlines operations
- Maximizes results
- Can automate all banking functions
Cons
- No real-time support
- Limited to text
- phone
- and email communication
- Dependency on core banking systems
- Lacks customizability
- Relies on human-in-the-loop
- No specific cybersecurity measures mentioned
- No mention of handling multi-language support
- Dependent on quality of bank's data
- Waitlist required to use
- No stated support for third-party integrations
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