RAKBANK and Microsoft, as part of their ongoing collaboration, will be leveraging the power of artificial intelligence (AI) to transform various facets of operations at the bank.
The collaboration will focus on redefining compliance, anti-money laundering and combatting the financing of terrorism (AML/CTF), and fraud detection; customer interactions; Customer Fulfillment and marketing initiatives at RAKBANK.
This will be achieved through utilising the advanced capabilities of GPT-4o, the multimodal large language model (LLM) from OpenAI, and JAIS, the world’s most advanced Arabic LLM from G42, running on Microsoft’s trusted cloud.
Raheel Ahmed, Group CEO of RAKBANK, said: “The collaboration with Microsoft underscores our commitment to innovation and operational excellence. We are pleased to combine forces with this global technology leader to leverage AI across a number of key areas, in line with our commitment to be the digital bank with a human touch.”
RAKBANK plans to launch a new marketing campaign fully supported by AI
By leveraging AI, the bank aims to deliver more targeted and impactful marketing strategies, enhancing customer engagement and driving business growth.
Naim Yazbeck, General Manager at Microsoft UAE, added: “At Microsoft, we believe in the transformative power of AI to revolutionise industries. Our collaboration with RAKBANK is a testament to how advanced AI technologies can enhance financial operations, improve compliance, and deliver superior customer experiences, all underpinned by the trusted Microsoft cloud. We are dedicated to providing a cloud environment that not only meets but exceeds the rigorous security standards required by financial institutions. Our Azure platform is designed with the highest levels of security controls and monitoring, ensuring that our customers’ data is protected and services are dependable.”
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Additionally, the work with Microsoft will help to improve the way customers engage with RAKBANK through AI-driven solutions. The collaboration will optimise digital and voice experiences as well as call centre operations, aligned with RAKBANK’s commitment to adopting technology to meet and exceed customer expectations.
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