JBS to build a new smart data platform using ML and AI for Capital Bank

Capital Bank has signed an agreement with Jordan Business Systems (JBS) the platinum partner of IBM in Jordan, to build a modern platform for the bank to manage data and learning Automation and artificial intelligence. The project is planned to accelerate the bank’s digital transformation program and to provide the latest technologies and advanced technological solutions using artificial intelligence (AI) and machine learning (ML),

Under the plan, Capital Bank will use a unified data management and artificial intelligence platform, IBM Cloud Pak for Data, which is an artificial intelligence-enabled system for the cloud environment that standardizes and simplifies the processes of collecting, organizing and analyzing data. The platform will help the bank support fact-based decision-making processes and it also provides automation to discover, classify and enhance data. This allows the outputting of data to business departments in record time, improving productivity, enhancing work efficiency and creating safer customer experiences, in addition to reducing the time and effort required to implement operations.

Machine learning (ML) and artificial intelligence (AI) solutions and models will also help Capital Bank in other ways:

• understand customer behavior;
• predict customer actions;
• manage customer relations with the bank;
• help the bank reduce and manage risks by improving quality of credit underwriting;
• improve the credit approval process;
• disclosure, detecting and prevention of financial fraud;
• improving Know Your Customer service procedures via analyzing customer behavior;
• helping manage anti-money laundering & anti-terrorist financing efforts;

Group Chief Operating Officer at Capital Bank, Izzidin AbuSalameh, said: “Capital Bank is one of the first banks in the region to start their digital transformation journey and our partnership with JBS and IBM will use AI & ML to add great value to that journey. Data management is one of the most important pillars in digital transformation, which we expect will enhance services to Capital bank clients and increase the efficiency of our operations.”

Chief Data Officer at Capital Bank, Bahaa Awartany, said: “Our cooperation with JBS and IBM comes from Capital Bank’s belief in the importance of providing advanced and high-level data management technologies and developing machine learning (ML) and artificial intelligence (AI) applications to improve the performance of our banking services. We will be part of the technological developments in the global banking sector, enhancing of the bank’s digital infrastructure to ensure smooth and efficient workflows.”

The Director of Innovation & Business Transformation at JBS, Khaled AlKadi said: “Adopting artificial intelligence solutions allows the Bank to leverage their data, bringing new insights which will enable them to provide the right services and offerings for their customers. Capital Bank is an early adopter locally and regionally in digital transformation, and the Bank has decided to adopt IBM Cloud Pak for Data, and Netezza Performance Server solutions. This will centralize data in a single master system that enables Capital Bank to analyze data and make decisions more quickly and with improved accuracy.”

Artificial intelligence and machine learning solutions will also help in the customer service center by converting incoming customer calls into texts and extracting patterns from them. These might include detecting common reasons for communication and recognizing frequent complaints in order to improve the quality of services provided to customers. Capital Bank will also be able to study and analyze ways to stimulate spending through credit cards, in order to be able to develop and provide appropriate services and solutions to customers that fit their different lifestyles.