Phoebus Software has launched a new partnership with Aston University to develop a suite of generative AI-powered tools for banks, building societies and lenders to service mortgage and savings accounts.

The financial technology provider said the Knowledge Transfer Partnership (KTP) project will enhance the way in which its customers and agents interact with its mortgage and savings software, introducing conversational interfaces capable of delivering real-time support.

The KTP project brings together the company’s technology developers with Aston University’s AI and digital transformation experts. The combined team will apply the latest academic advances in natural language processing, metadata generation and data mining.

The AI-powered tools will allow users to have natural conversations with Phoebus’ mortgage and savings technology and will modernise its current experience into one that is customer-focused.

Chief technology officer at Phoebus Software, Robin Jeffery, said that the firm is looking to "enrich an already market-leading solution with more intuitive and responsive functionality" that provides interaction with concise data and richer responses.

He added: "As a technology-driven business always looking to push boundaries, our long-standing relationship with Aston University’s College of Engineering and Physical Sciences means this KTP is the perfect fit to help reimagine our innovative technology platform so we can offer solutions that truly disrupt and take the lead in the market. Alongside the work we’re doing to embed intelligent automation and user-centric design across our product, this project will further improve the customer experience for our clients and boost productivity."

Director of The Sir Peter Rigby Digital Futures Institute at Aston University, Professor Abdul Sadka, concluded: "Co-creating innovative solutions for finance sector challenges using our expertise in AI data analytics will be very rewarding for our institute. We’re bringing together a nationally leading academic team who are at the forefront of AI/GenAI technologies and multimodal data analytics to really push the boundaries of what digital technologies can achieve in this space."

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