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Case Studies
Aura Cloud AB
Examining the role of generative AI in improving default detection
Aura Cloud + IBM
Aura Cloud is a Stockholm-based fintech startup providing a digital cloud platform designed to help financial institutions launch and run their businesses at light speed. Its vision is to be a leading global player in providing digital platforms for financial services.
Aura recently embarked on a journey to enhance default behavior detection capabilities of its solutions by integrating generative AI (gen AI) foundation models into its platform. Two technologists at the firm teamed up with IBM® Client Engineering and the IBM Innovation Studio to run a four-week pilot of IBM watsonx.ai™, a next generation enterprise studio for AI builders to train, validate, tune and deploy AI models.
The goal of the pilot was to measure the impact watsonx.ai could have on the firm’s existing tools for monitoring banking transactions and identifying deviations from standard patterns of behavior. Transaction classification and categorization are key elements of Aura’s default detection processes. Based on the pilot’s outcome, the firm is expecting more than 80% improvements within transaction insight generation once watsonx.ai is fully implemented.
“We are looking forward to further exploring watsonx.ai to simplify data discovery, enhance client experience and leverage the potential of generative AI,” says Prem Bhagwat, the founder and CEO Aura. “We found the IBM Client Engineering team and the IBM Innovation Studio team very efficient and knowledgeable during our engagement. The team was able to appreciate the practical implications of the scenarios and use cases to suggest efficient ways of reaching our goal.”
About Aura Cloud
Aura (link resides outside of ibm.com), a fintech startup based in Stockholm, Sweden, offers a digital cloud platform designed to help financial institutions launch and run their businesses at light speed.
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