Posh has announced a new AI product, REALM™ for the banking sector, which is an advance AI engine that aims to enhance great personal interaction experience for both the customer and the employee. The company opines that the new AI-powered reasoning engine has set a new benchmark in aspects of intelligence, security and in personalized interactions that feel natural.

REALM stands for (Reasoning Engine leveraging AI & Language Models). The information was released in a press release through businesswire. The parent company Posh claims itself to be a pioneer in providing AI-enabled solutions for the banking sector such as Voice Assistant, Digital Assistant and Knowledge Assistant. The company announced the operational AI products to more than 50 clients in 2023. Posh claims that its AI-powered solutions were built by people mainly who are financial experts.

REALM, the reasoning engine claims that it has features like Personalized Responses, Enhanced Understanding & Disambiguation and Semantic Knowledge Search. Since the targeted industry is financial sector, therefore there is also an strong guardrails so that AI operations are fully complaint with the regulatories.

Very recently only, the company introduced its new feature by the name of Posh Answers which aims to provide accurate and intuitive answers to the customer without them needing to explore the search results.

Other AI tools currently used in banking sectors

Many AI-enabled tools are being used in the financial institutions these days mainly for Chatbots, Virtual Assistants, Fraud Detection and Prevention Systems, Credit Scoring, Risk Assessment Tools, Predictive Analytics for Investment and Financial Forecasting, Robotic Process Automation (RPA), Natural Language Processing (NLP) for Document Analysis, Sentiment Analysis and Cybersecurity Tools