Artesian Solutions to boost commercial banking automation with Artesian Connect

By Megha Bhattacharya

UK-based risk solutions provider, Artesian Solutions has announced the launch of Artesian Connect in a bid to solve high-value frontline and middle office commercial banking challenges. The company stated that the new solution will combine advances in data-science to harness the collective expertise which exists within frontline banking teams in relation to their know-how around business development, spotting risks and opportunities – allowing the customer to encapsulate existing business-rules, policies, or regulatory requirements.

Andrew Yates, CEO at Artesian, explained, “Artesian ConnectTM is pioneering a new era in modern data and insight-driven Relationship-Banking – helping commercial teams leverage their extensive know-how and by combining this with the latest advances in data science, we can empowering them to do what they do best at a scale and speed never seen before.”

According to Artesian, Metro Bank is an early adopter of Artesian Connect. Ronan Heeran, Financial Crime Risk & Control Manager at Metro Bank commented, “We started working with Artesian to explore ways we could introduce greater efficiency to the customer onboarding journey. We loved the idea of being able to aggregate data from a number of different sources and map our risk appetite to Artesian’s rules framework to flag issues immediately. The result meant we could deliver a process which in some cases was 94% quicker than our existing process.”

“With Connect, modern frontline banking teams can rapidly merge disparate data sources, create bespoke rules for risk selection utilising rich firmographic data and, most importantly, deliver insight from unstructured data that paints a much deeper picture for client assessment.”

Recently, NatWest renewed its agreement with Artesian Solutions, as its core relationship intelligence and customer insight platform and followed a five-month tender process. The renewed three-year contract is expected to enable the bank to leverage Artesian’s ENGAGE platform. The companies have been in partnership since 2013.