Cascading AI is a tool that aims to automate manual banking processes using advanced AI capabilities. Specifically, it offers a solution for document collection needed for loan applications, account opening, Know Your Customer (KYC)/Know Your Business (KYB) procedures, and more. The tool allows AI agents to communicate with customers through text, email, or phone calls, collecting necessary documents such as pay stubs, bank statements, tax returns, and certificates of good standing. It also facilitates document analysis and follows up with clients to resolve any discrepancies, potentially increasing conversion rates while saving time previously spent on manual customer communication.Additionally, Cascading AI provides customer service support by leveraging AI agents to cluster customer complaints, understand areas of concern, and generate responses based on bank policies and information stored in the bank’s systems. This can lead to improved customer satisfaction through rapid responses and a decrease in customer support costs.Furthermore, the tool offers back-office automation capabilities for tasks like payments exception handling and securities settlement. Its AI agent can navigate core banking systems, gather information, and make recommendations. It can also analyze non-STP (Straight-Through Processing) exceptions that rules-based bots may struggle with. This can increase STP rates and reduce manual efforts in the back-office.Cascading AI works with leading core banking systems and technology providers, eliminating the need for building custom interfaces and infrastructure from scratch. The company has solid funding, strong connections to Silicon Valley, and brings top talent from Stanford University. It offers a waitlist for those interested in exploring the tool’s potential for various AI use cases across different banking functions.
