BNP Paribas has been recognised in the AI and Robotics category at The Banker Innovation in Digital Banking Awards 2021, for its personal digital execution assistant, ALiX. This award demonstrates BNP Paribas’ pioneering leadership in delivering digital solutions to clients and its commitment to being a digital bank of the future.
The age of AI
As the FX markets have become more digitised in recent years, there is a greater need for digital tools to support clients’ trading needs. Banks have seized the opportunity to automate workflows for clients, as well as their own operations, to free up time, lower risk and reduce cost. More recently, banks have tapped into the world of artificial intelligence (AI) to not only automate work processes but redefine the way clients carry out their trades. Read more about the evolution of the FX markets here.
Introducing up-skilled ALiX
In 2021, BNP Paribas expanded its personal digital execution assistant, ALiX, to cover all available products in Cortex FX, the bank’s multi-product FX trading platform. Using the latest AI and cutting-edge natural language processing (NLP) technology, ALiX is able to understand basic spot requests all the way to complex options RFQs (request for quotes), and instantly produce a live tradeable price straight to clients’ desktops.
Rethinking how clients will use single bank platforms in the future, the upskilled ALiX is engineered to pack all the power of Cortex FX into one small widget that fits neatly in the corner of a client’s screen, saving invaluable screen space that is hard to come by in a remote working environment.
Responding to clients’ needs
BNP Paribas is constantly listening to its clients’ needs and innovating to deliver the most enhanced and relevant digital services. This has been particularly true during the Covid-19 pandemic where clients have faced a multitude of challenges and needs have rapidly changed.
“With ALiX having expanded its skillset across the entire FX suite, it now offers a true one-stop shop for clients to trade effortlessly via Cortex FX,” commented Nick Hamilton, Head of EMEA eFX Sales at BNP Paribas. “Our clients have had to adapt to new trading environments over the last year, and through listening to their needs, and leveraging cutting edge, innovative technology, ALiX continues to define the next generation of FX trading platforms.”
Joe Nash, digital FX COO at BNP Paribas, added: “In an ever evolving and complex market, we continually strive to offer clients a bespoke personal trading experience, adapting to their ever more sophisticated needs. ALiX has been designed to fit a world where screen real estate is at a premium and an ever expanded number of users are working remotely. ALiX has a diminutive screen stature but is indisputably pixel for pixel the most powerful FX platform on the market.”
Find out more about ALiX here.