How Commerzbank is transforming financial advisory workflows with gen AI
Customer Company Size
Large Corporate
Region
- Europe
Country
- Germany
Product
- Google Cloud Platform
- Vertex AI
- Gemini 1.5 Pro
Tech Stack
- Java Spring
- Google Cloud Storage
- AI and Machine Learning
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Customer Satisfaction
- Digital Expertise
Technology Category
- Analytics & Modeling - Machine Learning
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Process Control & Optimization
Services
- Cloud Planning, Design & Implementation Services
- System Integration
About The Customer
Commerzbank is a leading German bank that has recognized the need to innovate and improve efficiency in its operations. With a focus on corporate clients, the bank's financial advisory division plays a crucial role in providing personalized financial advice. However, the division faced challenges due to the manual and time-consuming nature of documenting investment suggestions, which led to productivity bottlenecks. To address these challenges, Commerzbank partnered with Google Cloud to develop an AI-powered solution that automates the documentation process, allowing sales advisors to focus on higher-value tasks and improve client service.
The Challenge
Financial advisors at Commerzbank faced significant challenges due to the highly manual and time-consuming process of documenting investment suggestions in detailed protocols. This process involved reviewing client interactions, extracting relevant information, and manually entering data into various systems. The manual nature of these tasks not only consumed valuable time but also increased the risk of errors and inconsistencies, leading to productivity bottlenecks and reducing the time available for advising customers.
The Solution
Commerzbank partnered with Google Cloud to develop an advanced AI-powered solution that automates the labor-intensive process of documenting investment suggestions. The solution leverages a sophisticated multi-step gen-AI architecture built using Vertex AI and Gemini 1.5 Pro. The process begins with sales advisors using a user-friendly frontend interface to select client calls for processing. The audio recordings are imported into Google Cloud Platform storage buckets, where they are divided into smaller segments for efficient processing. Advanced diarization and transcription are performed using Gemini 1.5 Pro, which generates a high-quality, structured transcript with accurate speaker identification. The model then analyzes the transcript to extract relevant facts and generate concise summaries for each field within the financial advisory document. The summaries are evaluated using Vertex AI Gen AI Evaluation Service to ensure quality and compliance with internal guidelines. This multi-stage architecture enables Commerzbank to automate a complex process with high accuracy and efficiency, empowering sales advisors to focus on higher-value tasks.
Operational Impact
Quantitative Benefit
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