Intellix helps advise banking customers
For bankers, investment advice is a complicated area, notably in today's choppy markets. Many factors influence the choice of an investment strategy, since this requires investment knowledge and the ability to understand and match a strategy to a customer’s situation. Such expertise exists centrally in most banks, but the challenge lies in distributing that expertise to a bank’s customer advisors in all its branches.

To address and solve some of those issues, an Intellix solution was pivotal in rolling out an Online Investment Advisor product to major Danish financial institution, Jyske Bank (2002: some 3000 employees, gross income of DKK3B and ranked 125th of Nordic top 200 companies).
The Online Investment Advisor has consequently been able to provide investment advice support to all investment advisors in Jyske Bank - allowing a consistent approach in assessing the needs of customer and recommending an investment portfolio based on this.

Question and Answer: a step-by-step approach
Customer needs are determined through a series of questions asked by the system. The Intellix Online Advisor uses patented neural network technology so that based on the answers initially given, and the direction the questioning takes, an individual process results that leads to the establishment of the "ideal investment strategy" for the customer. Besides finding the optimal solution, the Intellix system also provides valuable documentation of the entire process.

The Expert learning process at work
The Intellix Online Advisor was originally ‘trained’ using examples of daily advice sessions where customers had received investment counselling from the most experienced and knowledgeable experts in the bank.
Using those cases as a base, sufficient expertise was gained for the Online Advisor to act independently and today the system is able to recommend an expert solution for nearly any situation.

Online Access for all
All Jyske Bank’s investment advisors have access to the system; a plus for branch offices located throughout Denmark or even in outlying Danish islands. Investment strategies and portfolio recommendations are updated on a daily basis from a central location.

Not only does the Online Advisor meet Danish legislation on broker ethics, it is also provides the bank a strong legal-compliance tool as it references the original criteria for the advice given in case of disagreement.

Intellix removes bottlenecks
By automating investment case evaluation, the time needed for an advisor is reduced. Therefore the advisor is free to spend more time on the more complicated issues, and of course on inter-personal relationships, vital in the banking industry. Additionally, investment advisors are able to rise to the challenge of the more sophisticated cases.

"As a customer counsellor and dealer, I am certainly not an IT expert. Despite this, I am able to train the Intellix system, and I am living proof of how easy the system is to use. That was a key issue when choosing Intellix.

Some of the profiling questions we asked in the past may not have carried the value we needed. So, turning things upside down and formalizing our practices has been a valuable lesson to us. Expertise has not only been gained by the Intellix system but also by the human experts driving it. Our overall level of service and ability is much higher now."

Ejnar Frederiksen, Jyske Bank