Silot: Empowering Smart Banking Ecosystems with Artificial Intelligence
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“Silot has been supporting us in retrieving insights from our business data to become productive in managing all the banking operations through mobile technology as well as artificial intelligence (AI). Silot has always been our reliable and trusted partner since the beginning,” reads a statement by Sam Tanskul, head of Innovation and Fintech department at Krungsri, the fifth largest bank in Thailand. This testimonial aptly describes Silot’s prowess in optimizing, building, and supporting financial firms’ digitalization process using AI.
Headquartered in Singapore, with offices in Bangkok, Beijing, Shanghai, and Jakarta, Silot nurtures a banking revolution in the Southeast Asian countries. The company offers a knowledge-driven business intelligence solution that drives a smart financial ecosystem by unifying siloed banking services such as payments, know-your-customer (KYC) processes, business marketing, compliance, and loan underwriting. Silot empowers financial firms to become efficient and smart in carrying out their businesses by connecting all these operations together and transforming data insights into actionable business decisions using AI. “We have developed our intelligent platform after extensive research and development,” begins Andy Li, founder and CEO of Silot, while referring to the platform as ‘the Brain of Banks.’ “It is designed to improve banks’ end-to-end operational workflow and accelerate their decision-making journey by overcoming technical bottlenecks, transforming them into digitally-driven organizations.”
Silot’s intelligent platform incorporates the knowledge graph technology with AI that learns and streamlines all the banking operations to help financial firms grow and scale
The platform incorporates knowledge graph technology with AI to comprehend and streamline multiple banking operations and help financial firms grow and scale. Knowledge graph technology aids financial firms in extracting relevant business insights by consolidating and refining their structured and unstructured data sources. These findings can then be transformed into potential business opportunities, establishing a connection among these disparate datasets. The outcomes acquired from the knowledge graph then form the foundation for the AI decision-making engine, enabling it to leverage the multi-dimensional relationships of the datasets to assist banks in making smarter business decisions. Furthermore, banks can easily trace every decision to its data source any time to gain better visibility into their business processes.
Silot’s capabilities are not limited to providing only an intelligent platform to financial firms. The company also holds expertise in raising capital investments and has received three rounds of funding since March 2017 till date, with the most recent one being the Series A Round. “In March 2017, our company became the first firm to be funded by ZhenFund, a China-based seed fund, in Southeast Asia. Another interesting point to note is that our very first customer, Krungsri, evolved from being our client to our investor in this round of funding, which we think is a big achievement for us,” states Li. Additionally, Silot has filed patents for two of its newly developed services—Knowledge Construction and Knowledge Interference and Generation.
Equipped with a wide range of proprietary products and solutions, Silot emerges as a leading organization that is helping banks stay at the forefront of the intelligent and digital banking revolution. The company has garnered a huge clientele in Southeast Asian countries, and in a bid to further assist traditional financial firms in scaling their business further and becoming digitally driven, Silot is planning to expand its geographical presence by entering the Japanese market in 2019.