Euromoney Foreign Exchange Awards 2023: Technology, infrastructure and innovation best provider – best AI/machine learning initiative: smartTrade Technologies
SmartTrade Technologies has emerged as a leader in front-office FX technology development.
Its strategic implementation of AI and machine learning has resulted in key advancements over the past 18 months. By effectively segmenting clients, detecting outliers for upselling opportunities, and providing AI-driven insights, smartTrade Technologies has offered clients a clean solution for FX.
The firm provides cutting-edge tools to optimise front-office processes. Its innovations include AI-powered risk-management systems, real-time payment-processing platforms and comprehensive data analytics tools.
Through smartTrade Technologies’ strategic implementation of AI and machine learning, banks can provide targeted client support.
By analysing extensive client data, banks can identify unique characteristics and behaviours to tailor services accordingly. This approach enhances sales effectiveness, leading to increased revenue and strengthened client relationships.
The adoption of machine-learning techniques enables banks to identify outliers within client clusters, uncovering valuable upsell opportunities. By analysing historical data and patterns, banks can pinpoint clients exhibiting behaviours that indicate a high potential for additional services or upgrades.
In addition, by leveraging these AI tools, banks can also delve into their client data to anticipate their evolving needs. Sophisticated algorithms analyse client information, identifying shifts or deviations from established patterns.
Real-time alerts generated by these AI-driven insights have empowered banks sales teams.
“Winning this award underscores smartTrade's dedication to pushing the boundaries of innovation and delivering value for our clients,” says David Vincent, CEO, smartTrade. “I am profoundly proud of our team and our commitment to shaping the future of the FX industry.”