Helping build a purpose-led bank with AI and Automation


Next Generation banking with a purpose

We understand that Natwest Group has the ambition to create lasting value for their customers and to build a purpose led bank that will make a substantial impact in addressing challenges that threaten to hold people, families and businesses back. At EdgeVerve we can help Natwest Group 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

  • AI & Automation ushering in a new era of CX in banks
  • AI for Customer-Centric Financial Institutions
  • Purposeful Artificial Intelligence for Banks
AI & Automation ushering in a new era of CX in banks

AI & Automation ushering in a new era of CX in banks

According to a report by Gartner, by 2020, 85% of customer interactions will be managed without a human. AI is changing customer experience in banks in unimaginable ways. Advanced capabilities powered by automation and AI will make contact centers agile and intelligent, opening a window of opportunity for safe, simple, and smart banking. From automated interactions to automated agent guidance, the possibilities are endless.

AssistEdge Engage helps Financial Institutions re-engineer their contact centers and achieve superior customer experience. Customers benefit from faster query resolution, reduced hold time, increased first call resolution, and suitable offers, thereby improving brand connect and loyalty. AssistEdge Engage combines rich capabilities of AI and automation, improving agent productivity by automating repetitive tasks, cross-sell and upsell by offering rich customer context, improving agent morale, and agent learnability.

Key features

  • 360° Customer View

    Actionable customer insights from several applications integrated into a dashboard

  • One-click Smart Automation

    Single click customer request automation across multiple applications

  • Citrix & VDI support

    XenApp and XenDesktop adaptability even in complex implementations

  • Guided Assistance for Agents

    Step-by-step guidance to execute requests improving agent learnability

  • Predictive Customer Insights

    Redefine customer engagement based on past interactions and behavioral patterns

  • Single Sign-in Manager

    Single click login across multiple applications without time-outs

Success stories

Used by
>80,000
agents working at leading global contact centers

Powering
400+
contact centers across 15 countries

Enabling
Top 5
global telecom companies for customer care

Delivered
8% uplift
in customer delight NPS (Net Promoter Score)

Break-even in
<3 months
on the investments made for AssistEdge Engage

Improvement of
20%
in agent productivity and first call resolution

Delivered
30-50%
reduction in training and operations related cost

Reduction of
70%
in query resolution time, 30-40% reduction in AHT

AI for Customer-Centric Financial Institutions

AI for Customer-Centric Financial Institutions

Banks are trying to reinvent themselves by acquiring and retaining a loyal customer base by creating long-lasting value. AI adoption is the key to deepening customer experiences at scale in a digital economy. AI helps gain deeper customer insights, provides hyper-personalization, and predicts & prevents customer churn in the long run.

With the FinXEdge suite, financial institutions will be able to leverage AI to boost their revenues by acquiring valuable customers, offering them rightly matched loans, and cross-selling better. It also presents an opportunity to reduce losses by managing default and fraud more efficiently. FinXEdge suite enables a 3600 view of the customer that allows you to create longer term deeper relationships with your customer.

This helps financial organisations to:

  • Understand the market drift and acquire more business

  • Convert and retain high-quality accounts by creating smart retention strategies

  • Create differentiated treatment plans based on risk scores of accounts

Key features

Be Risk Positive With Intelligent Debt Collection

FinXEdge Collect is a data-driven intelligence application powered by advanced Machine Learning that helps lenders and debt collectors:

  • Reduce delinquency rates and charge-offs

  • Enhance customer experience

  • Improve process efficiencies, productivity, and compliance

Success stories

Motivation

A leading digital bank in the Philippines, through their digital transformation strategy, wanted to reinforce their commitment to deliver superior customer experiences and new ways to improve default management. Statistical models were used for risk segmentation of their customers but were limited by largely being dependent on trailing payment patterns and the number of features used. There was an urgent need to develop a solution leveraging new age technology that could be used across products consistently and be nimble on changing business environments.

As part of their Collections, the bank was suffering from high delinquencies and charge-offs, higher operating cost due to high call volumes and unable to maintain an optimal customer experience. To address these challenges, they were looking at deploying innovative solutions that could be used across products consistently and be nimble on changing business environments.

Solution

In partnership with EdgeVerve Systems, the bank modernised their collection processes with real-time AI driven insights into delinquency rates, better risk segmentations and customised contact & calling strategies thereby delivering superior customer service.

With FinXEdge Collect the bank accelerated its transformation in a way which is more intelligent, efficient, cost effective and seamless. The bank improved resiliency and management of its systems, as well as the ability to scale around that resiliency.

Benefits

Purposeful Artificial Intelligence for Banks

Purposeful Artificial Intelligence for Banks

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 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, utilising AI technologies helps banks gain a competitive advantage.

The Nia DocAI platform automates the end-to-end document processing lifecycle from ingestion to consumption, using AI capabilities such as InfoExtractor, 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.

Key features

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

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

  • Make better-informed decisions

    Provide insights from data, competitive intelligence, and risk analysis.

  • Improve customer experience

    Empower sales, customer agents, and client advisors with contextual help through relevant recommendations, insights, and sentiment analysis.

  • Meet regulatory compliance

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

Success stories

Motivation

Our client, one of the oldest and largest US based financial institutions, had to review and approve 25K+ loan applications in a week, in the midst of COVID 19 and an unprecedented surge in Paycheck Protection Program (PPP) Small Business Administration (SBA) related loan applications. They also had to authenticate the small business enterprises applying for the loan, by extracting critical employee payroll data needed for approving the loan application.

Solution

Nia DocAI and its computer vision capability turbocharged the bank lending loan processing with high accuracy while adhering to stringent Risk and Audit requirements. It also ensured data accuracy and provided scale that allows for automated disposition of loans and provided traceability for risk and audit, now and in the future.

Benefits

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