Karnataka Bank has opened Analytical Centre of Excellence (ACoE) in Bengaluru. The centre, which is developed in association with Ernst and Young (EY) as project partner, will help in accelerated incubation of artificial intelligence (AI)/machine learning (ML) models along with their integration to business, on a scalable analytical data platform.
Quoting Pradeep Kumar, Chairman of the bank, said ACoE is a business project supported by technology which needs to constantly evolve with changing business environment and regulations. “I am sure, ACoE will help the bank deliver a much richer customer experience and engagement, driving revenues up and costs down,” he said.
Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said Karnataka Bank has joined the elite club of a few banks who have their own ACoE. Data-driven analytics is at the core of developing and driving processes and business models towards enhancing customer satisfaction, reducing operating cost, increasing agility of decision making, reducing risk for enterprises., he said.
In this direction, ACoE will be a key differentiator in accelerating Karnataka Bank’s transformation journey to emerge as a relevant, progressive ‘digital bank of future’ as envisaged as part of KBL NxT initiative of the bank, he added.