Standard Chartered Bank's SWOOSH Platform Wins at the Technology Excellence Awards 2021

SCNXT, an innovation centre of excellence for Group Operations, successfully creates a ground up and 1st inhouse AI platform for image, video and text with AI explainability.

Paving the way as leaders of AI technology in the industry, Standard Chartered Bank’s award-winning SWOOSH platform extended their accolades with a giant win. Singapore Business Review (SBR) presented Standard Chartered Bank with the AI – Banking trophy for its SWOOSH platform at the recently concluded Technology Excellence Awards 2021.

This is in recognition of its efforts to make Artificial Intelligence (AI) and Machine Learning (ML) accessible and practical for colleagues across the Bank’s footprint.

The purpose-built AI and ML platform, SWOOSH, is a result of the SCNXT team’s push for continuous improvement and experimentation to support the Bank’s focus on accelerating time-to-market, improve client experience and productivity.

The SWOOSH platform features include a customisable advanced AI engine for image, video and unstructured text, and data built on Geometric Deep Learning and Graph Neural nets with 100+ algorithms working in tandem to solve various complex tasks such as:

• Image-based Functions
• Recognise and extract handwriting from cheques and other documents, and auto comparison of signatures.
• Image data extraction, which extracts data from any scanned documents with low dpi such as onboarding documents, statements, payslips, invoices, government-issued identification and various other types of documents.
• Image classification that auto classifies documents into respective categories.
• Image comparison, which compares signatures, faces, biometric information, etc.
• Image clustering that groups similar images.
• Text-Based Functions
• Text extraction, semantic understanding and contextualisation of actions to be performed from emails, SWIFT messages and various other types of documents word documents.
• Text comparison that performs duplicate checks, comparing addresses, names, legal clauses.
• Text classification, and text generation that offers conversational chatbot, text summarisation, etc.

Satya Ganesh, Global Head, Lean Digital, Robotics, AI/ML & Data Analytics & Insights (SCNXT) acknowledging the recognition said, “Working in strong collaboration with our colleagues across the footprint, We are confident that SWOOSH not only allows us to increase efficiencies & effectiveness in our internal processes but also reduces the barriers to reimagine and reset our collective ways of working as we continue on our path of putting out client needs first. Together, we will continue to push boundaries and introduce new thinking to make things simpler, faster and better while unlocking the human potential in all of us.”

The Technology Excellence Awards, presented by Singapore Business Review, was held via studio award presentations and video conferencing sessions throughout the second and third week of April.

This year’s nominations were judged by a panel consisting of Daryl Pereira, Head of Cyber at KPMG; Cheang Wai Keat, Partner, Consulting at Ernst & Young Advisory Pte. Ltd.; Henry Tan, Group Chief Executive Officer and Chief Innovation Officer at Nexia TS; Sivakumar Saravan, Senior Partner at Crowe Singapore; Cecil Su, Director, Head of Cybersecurity of BDO Singapore.

If you would like to join the 2022 awards and be acclaimed for your company’s exceptional technological innovations, please email Jane Patiag at [email protected].