Today, Russia’s leading fintech innovator, Tinkoff, announced that it has selected Anodot, the autonomous business monitoring company, to help safe-proof the way customers experience payments and trading on the Tinkoff platform.
The adoption of artificial intelligence technology in banking is on the rise. According to Analytics Insight, by 2025 the global AI market will reach $48 billion in banking-related revenue. This is due in large part to the financial services ecosystem undergoing a massive transformation. The rise of innovative fintech and digital banking solutions has caused an exponential surge in the amount of data that must be monitored, managed and reconciled. Financial institutions require the kind of technology that will guarantee the highest level of customer satisfaction without compromising internal productivity and resources.
“Tinkoff needed a solution to help monitor high volumes of data from multiple sources in an efficient manner,” said Viacheslav Tsyganov, Chief Information Officer, Vice President, Deputy Chairman of the Management Board at Tinkoff. “Anodot’s technology was deployed within days, seamlessly, across our network. Connected to different data sources and dozens of use cases, it is now deeply rooted throughout our entire organization. As a result, we’ve optimized operations performance and reduced cost by detecting and resolving issues in real time by 30%.”
Anodot automatically learns the norms of our business performance, including seasonal and other complex patterns, to identify and alert our teams on any issues that impact revenue. All data sources are integrated into a centralized platform, where AI models learn how customers behave. With this visibility and its real-time performance, Anodot immediately identifies issues such as failed and declined transaction rates, login attempts, device usage and the transaction amount per type – all of which are valuable in detecting potential revenue and customer experience issues.
“As the complexity and volume of financial data grows, it’s no longer feasible for organizations to manually monitor dashboards,” said Anodot Co-Founder and CEO David Drai. “Now is the time for organizations to leverage AI-powered technology for proactive and accurate business monitoring. Anodot helps organizations like Tinkoff to detect and diagnose issues early on, resolve them quickly, and take preemptive actions before they turn into crises.”
The success of the fintech model depends on the quality of the customer experience it provides. Anodot’s disruptive technology helps fintechs and other data-driven organizations to find and fix any performance hiccups quickly, ensuring they can provide a smooth and reliable customer experience.
For more information about Anodot’s Fintech Analytics, please visit: https://www.anodot.com/fintech-analytics/
Tinkoff is an online financial and lifestyle ecosystem centred around the needs of its customers, offering a full range of financial services for individuals and businesses. All Tinkoff services are accessible via our mobile applications and Tinkoff.ru.
At the core of the ecosystem is Tinkoff Bank, which was founded in 2006 and has since become one of the world’s largest independent digital banks serving over 15 million customers. It provides banking and lifestyle services via the Tinkoff super app, the first super app developed by a financial institution in Europe.
Tinkoff’s parent company, TCS Group Holding PLC, is listed on the London Stock Exchange and on Moscow Exchange. The 2020 IFRS net income of TCS Group Holding PLC amounted to RUB 44.2 bn, another record. The ROE was 40.6%.
In 2018 and 2020, Global Finance named Tinkoff Bank the world’s Best Consumer Digital Bank, in 2020–2018, 2016 and 2015, the Best Consumer Digital Bank in Russia, and in 2020–2019, the Best Consumer Digital Bank in Central and Eastern Europe. In 2017 and 2013, the Banker recognised Tinkoff Bank as the Bank of the Year in Russia and in 2020, the Best-performing Russian Bank. In 2020 Forbes included Tinkoff at top-3 the Best Russian Employers.
Anodot’s Business Monitoring platform uses machine learning to constantly analyze and correlate every business parameter, providing real-time anomaly alerts and forecasts in their context. Fortune 500 companies, from digital business to telecom, trust Anodot’s patented technology to reduce time to detection and resolution for revenue-critical issues by as much as 80 percent. Anodot is headquartered in Silicon Valley and Israel, with sales offices worldwide. To learn more, visit www.anodot.com and follow them on LinkedIn, Facebook, and Twitter.