2019 BAI Global Innovation Award Finalists
Internal Process Innovation
Last year, Alior Bank initiated its Smart Operations project to optimize the activities of its 1,000-employee operations department. The project encompassed three key modules. The Robots Factory module automated recurring processes. As a result, some of the company processes are now unmanned, and the system has enabled full digitization of complex processes and operations which were too difficult to automate using standard systems. The Contact Center module introduced a virtual agent that, thanks to the use of advanced speech analysis and AI components, can hold uninterrupted conversations with customers. The New Back Office module gathered previously dispersed processes under one system, which was fully designed and developed using the bank’s internal resources.
Dash360 is a new proprietary, cloud-based financial advisor technology platform built on top of Salesforce. It integrates financial technologies from third-party vendors into one place, giving an advisor a 360-degree view of the business. This enables advisors to manage their clients’ investment plans and portfolios in the most efficient and effective manner. Further benefits include state-of-the art practice management tools, 100% paperless new account openings, and a single sign-on client account view.
ProxymitySM is a new digital proxy voting platform for corporate shareholders. The platform directly connects and authenticates equity issuers and investors and makes the voting process more efficient, accurate and transparent. Proxymity provides real-time transparency into the voting process, allowing instant amendment of instructions and much sought-after confirmation that votes have been recorded at the annual general meeting. Proxymity was born out of Citi’s internal D10X program by London based employees of Citi’s ICG Securities Services business with the underlying technology developed at the Citi Innovation Lab in Tel Aviv.
HDFC Bank’s Digital Transformation Team is a dedicated unit tasked with bringing about a transformational culture within the bank, including leveraging AI both internally and externally. Today at HDFC Bank, there are 24 AI initiatives which are either live or at various stages of development. These initiatives span across functions such as customer service, banking transactions, employee training and engagement, recruitment, operations, analytics and ecommerce and payments.
x-Platform Project is an accelerator of effective digital transformation, thanks to flexible test environments using cloud-based technologies and automation of software development cycle on the basis of the DevSecOps methodology. Implementation of the target digital xPlatform for IT systems of the bank will make it possible to: reduce the time and workload associated with preparation and maintenance of test environments, lower costs of purchase and maintenance of infrastructure for test environments, improve the scalability, accessibility and reliability of test environments and more.