Crédit Mutuel has collaborated with IBM to devise new ways of working to better serve the bank's 12 million customers.
Crédit Mutuel has selected IBM Cloud, Watson and advanced cybersecurity technologies to fundamentally change how its customer relationships are developed and maintained.
As part of a bold strategy to embed artificial intelligence solutions in most of its banking and insurance businesses, Crédit Mutuel will now deploy IBM Watson across all of its business lines - Consumer Credit, Personal Protection, Health, Payment Instruments and Risk and Compliance.
For its next wave of transformation, Crédit Mutuel will combine multiple technologies from IBM – IBM Cloud, Security, and Watson – to reconceive partner relationships and operations.
For example, Crédit Mutuel will now be able to reassign 200,000 working days annually towards training, upgrading advisors' skills and expanding sales activities. This follows last year's successful Watson deployment of an e-mail analyzer and virtual assistant to 20,000 advisors.
Crédit Mutuel CM11 Group chairman Nicolas Théry said: "Crédit Mutuel is deeply involved in a strategic partnership with IBM that will enable it to use technology and innovation to help people.
"Through this new joint-construction stage, Crédit Mutuel is enabled to transform its productivity gains and growth opportunities and pave the way for new services for millions of Crédit Mutuel customers and members."
Under the extended partnership with IBM, Crédit Mutuel will be equipped to manage risk and compliance issues such as anti-money laundering and financing of terrorism, with tighter controls and monitoring with business and client identification.
In the IBM Cloud, Watson services will be secured in a fully encrypted, dedicated and isolated environment in France with back-up in Germany. In keeping with General Data Protection Regulation (GDPR) compliance,
