Procedure for Creating a Virtual Multibank Agent: Introduction
Over the past twenty years, banking has undergone a profound and rapid transformation, due to the liberalization and deregulation of the financial markets and the technological innovation applied to the fields of computer science and information technologies. Investors have benefited from an increase in the number of possibilities available for investing their money, whereas active clients can have access to cheaper financing, in a process of banking disintermediation.
The loss of banking business due to the competition of online business and the reduction of margins through financial intermediation has had to be compensated, generating revenue by providing services and reducing costs.
The new Internet technology has enabled and considerably simplified the tasks of capturing, storing and processing information, although the offer of online banking services has been growing exponentially over the past few years, at times causing banking consumers to feel ”flooded”‘ by such an amount of information, and at the same time in need of advice that, until now, consumers were obtaining by physically going to the bank. On the other hand, online distribution increases the range of products and services that banking institutions are able to offer their customers, offering interesting conditions on products in which consumers are more sensitive to the price: checking accounts, mortgage loans, etc., given that the presence of this channel enables banking institutions to apply differentiated pricing policies and practice cross-selling new products. For all of these reasons, it becomes essential to offer banking consumers a method for accessing financial information about products and services in a quick, efficient and direct way.
The metaheuristic tabu algorithm of resolution by neighborhoods is especially suitable for achieving the objective of optimizing navigation through an online banking website. With this algorithm, a “memory” is created which stores the last movements carried out in the navigation, which can be used to “remember” those movements that end up leading to solutions that have already been explored. This “memory” will serve to prevent the evolution towards those solutions. The properties of this algorithm make it ideal for optimizing navigation on websites by reducing wait times, “noise” (irrelevant information) in the search for information, and as a result, would reduce the number of users who leave the website and at the same time improve the quality of the navigation. On the other hand, the use of intelligent agents that sweep the Internet according to the user’s information needs will enable users to not only obtain the information in the least amount of time possible, but they will also obtain a visual map of the actual pages, arranged according to their similarity with each other. Once one of the pages has been selected, the user can use this map to obtain those pages that are closer or more related to the particular query.
The application of both procedures, the tabu algorithm and the intelligent agent, will enable us to design a system that enables banking consumers to find, within the shortest amount of navigation time possible, information online about the desired product or service offered by all of the financial institutions that operate, according to some pre-established variables, which could be the capital (to be invested in savings products or to apply for in a loan), the interest rate, term or commissions, in this manner offering users the product or service that best adapts to their requirements. In short, the virtual multibank agent will enable users to look up information and will assist users in the decision-making process. instant payday loans online