Synechron and Squirro Partners to Empower Data for Financial Services Firms

Synechron, a leading digital transformation consulting firm focused on the global financial services industry, has proudly partnered with Squirro, the Augmented Intelligence (AI) solutions provider. The two companies have been working together to deliver award-winning and innovative solutions to financial services clients, most recently helping them extract insights from their unstructured data and unlock the power of information by leveraging AI.

Synechron, with 22 offices around the world employing 10,000+ people, is known for its business consulting and the expertise in seamlessly integrating emerging digital technologies, such as Blockchain, Artificial Intelligence, and Machine Learning for its clients. Squirro’s AI solutions are used by financial services, as well as other industries, to extract key actionable insights from the unstructured data they hold. This insight can be used to better understand customers and their markets, and then deliver a better experience to them. Since the inception of this partnership, Corporate and Institutional Banks (CIBs) and global insurers have benefited from enhanced understanding of their clients, turning costly but available data into new opportunities. 

The success of this alliance started with the July 2019 Allianz Global Investors (AllianzGI) hackathon, in which nine global start-ups competed to find the best AI solution to enhance fund investment performance. Synechron and Squirro won in the distribution technology category and the start of a fresh partnership began. “Collaboration is at the heart of what we do and partnering with Squirro in the hackathon made it clear what potential we had together,” said Mihir Shah, Head of Europe, Middle East, and APAC, Synechron.  

Through the combination of Squirro’s cutting-edge technology and Synechron’s ability to scale and scope out engagements of all sizes, clients have been able to implement the Augmented Intelligence App within their businesses with confidence. Together, they helped Standard Chartered Bank unlock the power of data using Natural Language Processing to discover new ‘Client Insights’. This new and novel platform provides an increased time to market, improved productivity, and enhanced client experience. ‘Client Insights’ has since been recognised by the Triple A Asset Asian Awards and the Business Intelligence Group AI Excellence Awards for the exceptional and transformative work delivered. 

“One of the greatest challenges financial services firms are facing is how to manage their unstructured data. The work we are doing with Squirro is not only enabling our clients to understand that data but also allowing them to leverage it, through the use of Augmented Intelligence. The partnership provides our clients with the benefit of working with a leading professional services firm with world-class financial services expertise, paired with Squirro’s cutting-edge technology. The work we have done together with Squirro thus far is testament to what can be achieved, and I am excited to see what this partnership will bring in the future,” said Shah. 

Ralph Straeuli, Director Partner Management at Squirro added, "Every organization today has stepped towards digital transformation, leveraging advanced technologies and platforms. Companies are also generating a wealth of information with every move, often collected in raw and unstructured form. Embracing insights engines based on Cognitive Search is an apparent data analytics strategy for businesses. We are very proud of the partnership with Synechron, combining Synechron's world-class Digital Transformation consulting expertise with Squirro's renowned and visionary Insights Engine platform to help customers solve a range of critical business challenges."