Capital One: Natural Language Search — Model Bank 2017 for Emerging Technology
Celent Model Bank Award: Capital One: Natural Language Search- Model Bank 2017 for Emerging Technology
Winner of Celent Model Bank 2017 award for Emerging Technology for Business, Capital One’s mobile natural language search marries several innovative technologies to provide a vastly improved search experience to a wider variety of non-technical customers.
Capital One partners with a Silicon Valley startup to let its corporate customers make natural language queries.
Capital One’s mobile natural language search marries several innovative technologies to provide a vastly improved search experience to a wider variety of non-technical customers
Capital One has focused on the customer experience for its corporate customers, an emerging trend that Celent sees gaining significant traction across corporate banking.
The project has succeeded in making information more accessible, more quickly. Capital One intends to take the lessons learned from this first of a kind initiative in natural language interface for corporate banking to discover what customers will like and use.
"A willingness to 'build or buy' gives Capital One a great deal of flexibility as it rolls out new technology; more banks are adopting this open-minded approach," commented Daniel Latimore, Senior Vice President of Celent's Banking practice.
"Taking incremental steps won't yield massive successes, but neither will it produce embarrassing failures. Smaller experiments will instead give Capital One a robust set of insights that they can use to build the next set of offerings," he added.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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