Canadian software-as-a-service (SaaS) provider Coveo recently launched a solution that answers business banking customers’ questions without the use of a call center.  

The artificial intelligence (AI)-powered Coveo Relevance Cloud for Financial Services platform uses predictive search to aggregate data sources for customers’ lending, revenue and expense forecasting inquiries, Michael Jepsen, vice president of sales at Quebec-based Coveo, told Bank Automation News.

“We strive through our technology to provide the right information in the right moment to the right person,” Jepsen said.  

The $1.3 trillion Royal Bank of Canada (RBC) has implemented the technology with 50 of its clients, according to a Coveo release.  

The platform also gives financial institutions real-time customer insights and analytics on which customers are interacting with digital channels or touchpoints, the release said. Those insights allow companies to increase their revenue by offering customized offers, Jepsen noted.  

For example, the platform could detect a person searching for a mortgage and extend an offer based off their credit history, he added. 

“What we’re trying to do is not only be the search technology for the websites and for the call centers, but just be the standard search technology for any bank and ensure with the investments we’re making in security, functionality and the scalability, to be ubiquitous that within financial services,” Jepsen told BAN. 

The company was founded in 2005 and has raised $339 million, according to Crunchbase. 

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