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BFSI
With pervasive AI, we are helping banking and financial organisations cater to evolving needs of consumers in the new digital economy as well as get ready for the future.

BFSI

With its pervasive AI capabilities, Tech Mahindra has been assisting BFSI players in implementing automated solutions in various aspects of the industry, especially Customer on-boarding, Video KYC, wealth management, cognitive pre-processing, Claims straight-through-processing and displaying stock market queries.

Service Offering

Our AI Service offerings in BFSI vertical include Consulting Services, Text Analytics (NLP), Intelligent Automation – Business & IT, Computer Vision, Virtual Assistants & Voice, and Advanced Analytics (ML).

Solutions

AI driven Video KYC

Tech Mahindra AI driven Video KYC solution enables Realtime customer Onboarding, automating document collection & verification with greater authenticity, reducing drop-offs and far optimized onboarding cost.

  • Key Solution Features
  • Benefits
  • AI driven Face Match
  • AI driven Forgery check
  • Liveness Detection to ensure the customer liveness and to mitigate identity fraud risk
  • Automated document collection
  • Real time Document Verification
  • Geo location capture and IP check

 

  • Reduced back office overheads (up to 70%)
  • Reduction in customer Drop-offs (up to 50%)
  • Exponentially increase Scale of Operations
  • Low cost and agile platform which can be customized to any dynamic regulatory changes in weeks

 

AI Agent Prompter

Assisting Customer Agents to give quicker responses to Customers thereby reducing Average Handling Time (AHT) and enhancing customer experience.

  • Key Solution Features
  • Benefits to Bank
  • Provides responses to bank agents for customers during chat conversations
  • Utilizes AI & ML to analyze and learn from interactions
  • Natural Language Processing (NLP) capabilities to train AI engine that growths its proficiency over time
  • Prompts are scored according to model accuracy with high rank options appear in agents' applications

 

  • Reduction in Average Handling time (AHT)
  • Improve Customer Experience
  • Higher Productivity of Agents

 

Conversational AI

This solution help banks and other financial institutions redefine their future digital strategy with conversations beyond transactional level and enhance the customer experience.

We specialize in banking and financial services spanning from Retail/Corporate banking, Credit cards, Insurance, Securities and Investment sectors and help 40-50% reduction in support and operational costs, enhanced customer satisfaction leading to more cross-sell opportunities

  • Key Solution Features
  • Benefits to Bank
  • Multi-Language Multiple dialect environment support with Omni-channel presence(Mobile app, website, WhatsApp, Facebook messenger etc) and voice bot capability
  • Time to Market- Engagement to live starting from 3 weeks
  • Deeper level of customer engagement much beyond regular queries, transaction based interactions
  • AI powered platform covers all channels, be it messenger or voice, be it a direct customer channel or an assisted one. It provides scale and ability to collate all the institutional knowledge to provide the deepest of engagement. The customer centric journey is around situations, sentiments and emotions and every time it is contextual.
  • The platform has pre-built and implemented 150+ use cases across various Business lines for a Financial Institution

The solution can also be offered for Assisted Channels and mid or back-office users in a Financial Institution, apart from end customers of the Financial Institution.

  • Reduced Opex- Up to 40% call center Volume reduction
  • Self Service Effectiveness- Above 90% in Channel resolution
  • Superlative Customer Experience – Improvement in NPS and CSAT
  • Agent empowerment – 30% agent training time reduction
  • Top line impact – Up to 25% uplift in conversations

 

Lending Analytics

Tech Mahindra’s solutions in Lending Analytics enables Financial Institutions to boost profits and improve customer engagement through engagement analytics frameworks focused on increasing customer lifetime value (CLV). Tech M’s proprietary frameworks for ETL processes assist banks in creating a single view of the customer, for deriving customer insights through machine learning modelling techniques.

  • Key Solution Features
  • Benefits
  • Customer 360° view through data consolidation, cleaning and data supplementing
  • Recommender Models for targeted cross-sell, up-sell, next best product offers
  • Marketing Analytics for developing effective and targeted marketing campaigns
  • Churn Predictor Models to identify dissatisfied customers, predict churn and devise appropriate retention strategies
  • Effective NPA management using pre-delinquency models leveraging risk scoring techniques

 

  • Increased share of wallet through customer focused value proposition, driving customer loyalty
  • Higher marketing ROI through targeted campaigns and reduced time-to-value
  • Personalized marketing, leading to improved customer retention and engagement
  • Tech M’s solutions have proven to yield up to 5% additional sales driven by targeted campaigns and a 15% reduction in delinquencies post disbursal, for a large PSU in India

 

Intelligent Automation

Addresses real time need of the insurers to aid their policy holders on self-service needs and queries related to products & coverage, claim documentation, service requirements, and any generic queries.

  • Key Solution Features
  • Benefits
  • Auto processing of claim forms submitted through Paper, Chat, Email and Contact Centre channels
  • Web forms, Chatbots and unattended Robots for coverage inquiries, claims submission and follow-up queries.
  • Automating the submission through closure of claims

 

  • Customers could perform all their transactions through conversations.
  • Bots will reduce the overall cost of operations while delivering customer service efficiencies.
  • Recognition-based data Capture (OCR), Mail Room automation, Automated KYC, Error free Data, Content Management
  • Post effective implementation, Bots become the preferred touch-point for all customer interactions either for sales or service.

 

Sentinel

One stop solution for Property Risk Assessment in Personal lines and SME segment in commercial lines. Comprehensive & Advanced risk scoring for Property Insurance, driven by big data/AI/ML-based predictive and other advanced analytic models that leverage conventional & digital data sources like satellite imagery, IoT and industry-recognized data providers.

Tech Mahindra’s Risk Management Solution for P&C Insurers.

Benefits:

  • Up to 40% improvement in pricing efficiency
  • Improvement of up to 30% in quote to bind process
  • Higher portfolio profitability in property insurance

 

AI-powered Model Risk Management platform

Tech Mahindra AI driven Video KYC solution enables Realtime customer Onboarding, automating document collection & verification with greater authenticity, reducing drop-offs and far optimized onboarding cost.

  • Challenges
  • Key Solution Features
  • Benefits to Bank

Challenges such as mentioned below has necessitated an AI-powered model risk management platform.

  • Proliferation in regulatory regime - Stress testing, CCAR, IFRS 9, CECL, IRB, IRRBB, BASEL 3
  • Manageability & Governance - Highly fragment data, information storage, lack of automation leading to model risk & governance challenges
  • High Cost of operation - Exponential increase in number of models resulted into a significant increase in cost of model validation and monitoring
  • Increased Regulatory Risk - Frequent manual errors, delays & inadequate documentation resulting into noncompliance and other relevant regulations

 

  • AI-powered Model Risk Management platform that can help addresses the key challenges in model validation & monitoring
  • Model Inventory & Tiering
  • Data Insights, documentations & reporting
  • Validations & Monitoring

 

  • 50% + efficiency gain across overall model management cycle
  • Model Validation and model monitoring efficiency gain by up to 50%
  • Regulatory Reporting efficiency gains up to 40%

 

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