Emirates NBD to build an AI-enabled bank with AWS

UAE-based bank Emirates NBD (ENBD) has announced it is collaborating with Amazon Web Services (AWS) in a bid to utilise the latter’s expertise in machine learning.

ENBD expect input from AWS will enhance its retail customer banking experience and the support will help towards reaching a more streamlined and personalised real-time banking  journey.

Suvo Sarkar, senior executive vice president and group head, retail banking & wealth management, ENBD said, “Emirates NBD and Amazon share common values of innovation and customer centricity and we look forward to leveraging AWS’s technologies and innovation practices to make banking more easy and intuitive for our customers.”

The bank said it will tap into AWS’ range of other services such as data analytics, internet of things (IoT) and natural language processing.

“Across every industry, companies are starting to meaningfully use machine learning in their businesses, and AWS offers the broadest and deepest portfolio of machine learning services to help them solve some of their biggest challenges,” explained Andy Isherwood, managing director, Amazon Web Services EMEA.

ENBD will leverage Amazon SageMaker and Amazon Personalize – two machine learning services that help create a more personalised approach to retail banking applications.

Furthermore, the bank will make use of Amazon Polly, a cloud service that converts written content into human-like speech, along with AWS’ image recognition and IoT solutions to enable more secure authentication solutions.

Isherwood concluded: “Emirates NBD is one of the most valued and innovative financial institutions in the Middle East, and we look forward to continuing to support them as they embark on a journey to transform how they serve their retail banking customers and build their organization into a bank of the future.”