Finn AI Saves 10% + 5% Ongoing in Engineering Time With Auth0
The conversational AI for banking provider also chooses Auth0 for partnership
About Finn AI
Finn AI is an award-winning, AI-powered virtual assistant built for personal banking and finance. We put a personal banker in every bank customer’s pocket, helping them to manage their money wherever they are, whatever they need – via a simple, natural conversation.
While much of the world has bank accounts and/or smartphones, not everybody has a personal banker they can call at 2 A.M. for answers to sleep-stealing questions. Finn AI is changing that by making it possible for banks to put a virtual banking assistant in every customer’s pocket with the help of their banking and finance-focused conversational artificial intelligence (AI).
“Using Finn AI to engage in a conversation with bank customers can be a lot more effective than some of the more traditional channels such as call centers or visiting a branch,” says Finn AI’s VP of Product Stephen Menon. “Our technology creates a frictionless experience for customers which enhances satisfaction, as well as efficiencies within the bank.”
Brands like ATB Financial, BMO, and VISA agree. Due to a laser-focus on banking and financial services, Finn AI is able to refine NLP development, which means they can easily predict retail banking questions and concerns from end users.
But financial institutions are understandably cautious about adapting innovative technologies which means projects often face internal security and external regulatory hurdles. “[Banks] all have very common information security, compliance, and risk approaches — and those are blockers. If you can’t get compliance, risk, or information security to sign off, then there’s no project,” says Menon.
Hurdle-Approved Authentication Partner POC in a Weekend
Finn AI says they were introduced to Auth0 while working on a virtual assistant for ATB Financial, who was already leveraging Auth0 for identity. They quickly recognized the potential for building an integration between their platform and Auth0 that would benefit additional joint customers. “Authentication through a conversational channel is a new experience for banks,” says Menon. “Having an authenticated experience within online banking is a non-new experience. If a customer is already leveraging Auth0, it makes it really easy just to add an initial channel. But if not, we’re able to introduce a solution that we know has met the rigor of bank compliance information security approval processes and can be delivered to new customers.”
In addition to seeing Auth0 in action in a heavily regulated environment, Finn AI was able to quickly see how it fit within their own needs. The first proof of concept around using Auth0 was done within 48 hours. “We see the value of ‘let the experts handle their specialties’, just like when we tell our bank customers to let us handle their chatbot for them,” says Steven Zhu, SVP Technology of Finn AI. “By using a well-designed and well-managed platform like Auth0, it lets companies like us focus on our business.”
Initial + Ongoing Savings + Customer ROI
Finn AI has been rolling out to new banks globally with its service powered by AWS Solutions seamlessly integrated with Auth0. A future-proof identity platform combined with best-of-breed AWS services enable Finn AI to innovate their offerings to include web, mobile, and even voice-activated applications.
“As Finn AI’s business grows, we continue to rely on Auth0 as our primary authentication solution partner, “ says Menon. “As more and more banks, especially digital and challenger banks, adopt standard Auth protocols like OAuth, we find it very easy to introduce and integrate with our customer with a recognized security partner such as Auth0. It‘s not a hard-sell at all. Usually the IT teams in the banks are already well-versed in the auth space, and they hold the same belief as us. Let the pros handle the security.” This can result in significant savings on the planning and execution when it comes to integrations. The team estimates a savings of 10% engineering time in the first year, plus 5% on-going maintenance time.
In addition to using Auth0 in banking integration, Finn AI has also selected Auth0 as the user identity provider for their own customer facing solutions. “Because we liked how we work with Auth0, we are expanding our usage to be a primary identity provider as part of our main solution,” says Menon. “We are confident that Auth0 is able to handle our multi-tenant SaaS identity management needs.”
As banks continue to expand their digital offerings into more sophisticated use cases, Finn AI can draw on their deep banking domain knowledge so that banks can easily engage in conversations with their customers with the help of Auth0. “Like Auth0 in the identity and auth space, we at Finn AI strive to be the premier conversational AI provider for banks and credit unions,” says Menon.
Curious How Your Organization Can Benefit From Auth0?
Learn how our customers are saving time and reducing costs by reading The Total Economic Impact of Auth0 by Forrester Consulting.
Auth0 is the first identity management platform for application builders, and the only identity solution needed for custom-built applications. With a mission to secure the world’s identities so innovators can innovate, Auth0 provides the simplicity, extensibility, and expertise to scale and protect identities in any application, for any audience. Auth0 secures more than 100 million logins each day, giving enterprises the confidence to deliver trusted and elegant digital experiences to their customers around the world.
For more information, visit https://auth0.com or follow @auth0 on Twitter.