Helping build a purpose-led bank with AI and Automation


Next-generation banking with a purpose

NatWest Group’s purpose is to champion potential and ultimately thrive. The Group aims to enhance the financial capability of the UK and the Republic of Ireland, along with employees skills. The bank also strives for a £250m reduction in their operating expenses to achieve more than 3% lending growth and 9-11% RoTE in the medium to long term through digitization of Personal Banking offerings and simplification of the technology estate.

At EdgeVerve, we help banks achieve excellence and become safe, simple, and smart with our banking solutions, business applications, and platforms. We simplify processes and enable our customers to stay ahead in their business by adopting Artificial Intelligence (AI), Machine Learning (ML), and Automation with agility.

We champion our clients’ growth potential in rapidly evolving areas like banking, credit servicing, customer service, and enterprise buying. Today, global corporations across financial services, insurance, retail and CPG, life sciences, manufacturing, and telecommunications use EdgeVerve products. If you are looking at innovative solutions that will help create lasting value for your business, explore new possibilities with our advanced solutions.

The Art of Possible

  • Enable intelligent debt collection with AI
  • Re-imagine customer experience with AI and Automation
  • Create intelligent document processes with AI
Enable intelligent debt collection with AI

Enable Intelligent Debt Collection at NatWest with AI

Loan Collections is one of the key activities for any banking organization. The common challenges faced in the collection processes are:

  • No early warning mechanism to predict/identify disputes and delinquent accounts

  • Risk segmentation of accounts based on rudimentary statistical models is inefficient

  • Lack of customer centric-collection strategy

The overall impact is on customer loyalty and affects the topline and the bottom line of the company. Typically, the collection process is not customer-centric. Most outsourced agencies for collection still have traditional call center setups, which use rudimentary risk segmentation methods without any regard to the behavioural aspects of the customer.
The need is to have a data-driven, intelligent, more accurate risk segmentation and rank ordering of customers and an appropriate collection strategy for customers in order to improve the collections and reduce delinquency and charge-offs.

Enabled by FinXEdge Collect

EdgeVerve’s FinXEdge Collect is a data-driven intelligent application powered by advanced machine learning. It helps in effective collections by providing:

  • AI based segmentation model to identify customers upfront who have a high chance of missing / delaying payment
  • AI based recommendations on contact strategies, including time and channel to:

    • Reduce call volumes
    • Make efficient use of cost-effective channels like SMS, emails, etc
  • AI models to:

    • Predict disputes early
    • Predict possible reason for disputes
  • Improve process efficiencies, productivity, and compliance

It generates a 360-degree view of the customer to identify patterns and predict customer behavior. It is an over-the-top solution providing intelligence to the existing collections process.

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Benefits Accrued

Improved collections

Reduced cost of collections resulting in improved bottom line

Improved operational efficiencies

Enhanced customer experience

Customers have achieved:
  • 10% call avoidance
  • 29bps reduction in roll rates leading to 10bps reduction in charge offs
  • ~100bps reduction in early-stage delinquency impacting more than $175M in higher collections in 1 year

Re-imagine customer experience with AI and Automation

Re-imagine customer experience at NatWest with AI and Automation

One of the important objectives for any bank is to improve customer experience and enhance overall operational efficiency. It is easy for any organization to overspend on offering a great customer experience if operational efficiencies are not continuously improved. Customer service helpdesks typically see a significant number of requests being made for repetitive queries. Answering these queries take up a lot of agent time. Freeing up agent time by improving operational efficiencies can lead to more opportunities for improving customer experience and satisfaction. When a service call is received by the support helpdesk team, they must juggle between a number of applications & knowledge sources to get the right information. This leads to inefficiencies, high call handling time, low problem resolution rates and overall dissatisfaction for the customers. To top this all, when SMEs and Team leads working in a bank’s customer service helpdesks leave the organization, it leads to a huge risk of knowledge/information loss.

The need is to deploy tools that will significantly ease the pressure of the helpdesk team and make them ‘super-efficient individuals’ to handle customers’ queries. It should enhance the teams’ productivity and reduce the learning curve to handle the ever changing IT landscapes and processes of banks.

Enabled by AssistEdge Engage

Enable the Customer Service and help desk representatives with AssistEdge Engage to make them more productive. AssistEdge Engage combines the rich capabilities of AI and automation to help organizations improve their customer service and individual’s productivity by automating repetitive tasks with a single click when they handle calls or tickets. The platform empowers individuals by offering rich customer context and a 360⁰ customer view in a unified dashboard. AssistEdge Engage easily integrates with a softphone through CTI integration. As soon as a call is received, an auto search is performed, and it aggregates data from multiple systems on a unified dashboard. Agents comply with ever-changing SOPs using guided help.

Enabled by AssistEdge Engage

Enable Customer Service and help desk representatives with AssistEdge Engage to make them more productive. AssistEdge Engage combines the rich capabilities of AI and automation to help organizations improve their customer service and individual’s productivity by automating repetitive tasks with a single click when they handle calls or tickets. The platform empowers individuals by offering rich customer context and a 360⁰ customer view in a unified dashboard. AssistEdge Engage easily integrates with a soft phone through CTI integration. As soon as a call is received an auto search is performed and it aggregates data from multiple systems on a unified dashboard. Agents comply with ever changing SOPs using guided help.

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Benefits Accrued

Improved agent morale, enhanced customer experience and reduced operational costs

Reduced call volumes and hold times and increased first-call resolution

Provides actionable insights to center managers

Benefit via cross/up sell and ROI in less than three months

Customers have achieved:
  • Up to 70% reduction in query handling time
  • 20-50% reduction in Avg. handling time
  • Up to 8% increase in NPS (Net promoter score)
  • Up to 15% improvement in first-call resolution
  • Up to 30% reduction in repeat calls

Create intelligent document processes with AI

Create intelligent document processes at NatWest with AI

68% of Financial Institutions are struggling to derive insights from their documents

It’s no surprise that banks generate massive amounts of data – 90% of data is unstructured and locked in documents. Maintaining customer information is of the utmost importance. Capturing, extracting, classifying, and verifying information in unstructured documents like invoice, documents involved in letter of credit (to facilitate payment between an importer and exporter) processing, etc. is time-consuming and daunting.

Banks and financial institutions are deploying Intelligent Document Processing solutions that leverage OCR and Machine Learning capabilities to make sense of the voluminous data across varied document formats, enhancing productivity, speed, and precision. From the management of contracts to processing customer information, utilizing AI technologies helps banks gain a competitive advantage.

Enabled by Nia Doc AI

The Nia DocAI platform automates the end-to-end document processing lifecycle from ingestion to consumption, using AI capabilities such as OCR, Computer Vision, NLP, and Cognitive Search. It provides ease of use, scalability, and out of the box integration features that allow banks to get faster access to actionable data.

Enabled by Nia DocAI

The Nia DocAI platform automates the end-to-end document processing lifecycle from ingestion to consumption, using AI capabilities such as OCR, Computer Vision, NLP, and Cognitive Search. It provides ease of use, scalability, and out-of-the-box integration features that allow banks to get faster access to actionable data.

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Benefits Accrued

Streamline your bank’s back-office operations and reduce turnaround time

Accelerate document processing by digitizing paper-based documents, validating data, and automating document workflows

Make better decisions

Provide insights from data, competitive intelligence, and risk analysis

Improve customer experience

Meet regulatory compliance

Provide contextual search across the enterprise and from externally available data for the right answers

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