Galileo Enables AI-Driven Conversational Banking Engine with Cyberbank Konecta-as-a-Service

By Business Wire On Mar 10, 2023

Galileo Financial Technologies, LLC, a leading financial technology company owned and operated independently by SoFi Technologies, is now offering Cyberbank Konecta, a conversational AI engine, in multiple deployment models for financial institutions, fintechs and non-financial brands. Using Galileo’s secure, agile and highly-scalable conversational banking solution, Konecta-as-a-Service enables companies to create intelligent digital experiences quickly and efficiently.

“Developed with a keen focus on bank customer needs and customer empathy, Cyberbank Konecta understands how customers interact with their banking partner based on years of analyzing, modeling and building bank customer interactions into an AI engine”

Cyberbank Konecta is a leading intelligent digital assistant (IDA) for banks, credit unions, fintechs and non-financial brands to engage and delight customers with a personalized experience at every stage of their journey, across any digital channel. As improving customer engagement is necessary to gain and maintain market share, financial institutions can use AI to help customers connect with their money when and how they prefer via tailored and differentiated financial products, services and experiences. With Cyberbank Konecta, clients can:

Drive new revenue by enabling faster, better customer onboarding, activation and product engagement experiences that fuel profitable growth.
Improve customer engagement and loyalty with 24/7 customer support and engaging interactions with every experience, in any language, across every channel.
Tailor customer engagements in real time as the AI engine gets smarter with each customer interaction and infuses the human touch when it is needed most.
Reduce operational and service costs by managing 80% or more of common inquiries with AI-powered intelligent digital assistance, reduce call volume and lower hardware and software costs with cloud servicing.

“Developed with a keen focus on bank customer needs and customer empathy, Cyberbank Konecta understands how customers interact with their banking partner based on years of analyzing, modeling and building bank customer interactions into an AI engine,” said David Feuer, Chief Product Officer at Galileo. “The technology seamlessly and intelligently meets customers at their point of need, while simultaneously informing future customer experiences.”

Through the meaningful AI and machine learning application, Cyberbank Konecta recognizes voice and text, understands intent, deciphers different languages and knows when to provide AI or human-based support for every customer engagement. Financial institutions, fintechs, and non-financial brands can implement Cyberbank Konecta with any existing technology platform they use, or use Galileo’s service offerings to operate and run this technology on their behalf.

Benefits of AI-based, conversational banking provided by Cyberbank Konecta-as-a-Service enable financial institutions, fintechs and non-financial brands to:

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Implement and launch quickly: Delivered through the cloud, the application is ready for use in just hours, significantly reducing time spent on installation and configuration. Deploy updates or new capabilities without distracting or interrupting current customer flows.
Easily integrate and scale: Since Cyberbank Konecta resides in a cloud environment, it can scale and integrate with other SaaS offerings across all service channels, and institutions can scale SaaS use up or down based on business needs.
Access the latest digital innovations: by implementing upgrades as they become available without disruption to day-to-day business.

Following the launch, Galileo’s full next-gen digital banking platform offerings include:

Cyberbank Core: The API-centric and microservice-based next-gen technology platform that FIs need to power everything from account opening to mobile banking apps and deposits. This one-of-a-kind digital banking backbone enables FIs to augment or replace their old core banking systems and dynamically create and deliver tailored financial products and services based on individual customer needs and behaviors.

Cyberbank Digital: Build exceptional, empathic customer-centric experiences at every touch – enabling financial products and services to be delivered through FIs existing digital channels. Or, to create a new digital channel. Create and deliver tailored financial products and services through any point of interaction of the customer’s choice, enabling FIs to incrementally modernize or leverage the Cyberbank Core platform.

Cyberbank Konecta: A customer experience platform—built on an AI-powered engine— that enables FIs to deploy intelligent digital assistants (IDAs) to support their customer base. These IDAs are powered by an empathy engine that supports a positive and delightful customer experience, provides standardized 24/7 self-service options, along with text, call and video supported handoffs to bankers/agents. The empathy engine uses a combination of machine learning, natural language processing and AI.

Payments and Card Issuing: Galileo’s flexible, secure modern payments processing platform allows FIs to effortlessly incorporate debit and credit programs, digital payments, virtual cards, accounts receivable and payable solutions, and more through easy-to-use APIs, documentation, sandbox environments, and third-party connectivity.

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