As more millennials and Gen Z employees enter the workplace, the pressure on the service desk to perform is higher than ever. Over 25% of millennials expect to get a response within the first 10 minutes of contacting a helpdesk, according to Desk.com. This generation of employees is used to getting its information on its fingertips in a click or two and has little patience for inefficiencies in the workplace. Service desks are woefully behind the times, costing the company hours of productivity and efficiency.

The Challenge

One of long-time clients, a major global insurer, needed to address an issue with recording and reporting trades between disparate systems. The trading platform used by the insurer’s derivatives traders was not integrated with its global enterprise platform, and the insurer lacked a single source of truth for viewing settled balances in its books and records. The size of each trade and the insurer’s arrangements with trade counterparties meant that reconciliations and reporting had to be faultless—and timely. The insurer asked Cognizant to help, and we saw an opportunity to implement robotic process automation (RPA) to improve the insurer’s efficiency and accuracy.

Our Approach

Cawi.ai deployed an Intelligent Virtual Assistant (IVA) that delivered a significant increase in productivity. The IVA automated query resolution for common use cases such as:

• Trading Report
• Market Watch and Analyst Recommendations
• Trading Report Market Watch and Analyst Recommendations
• Market Watch and Analyst Recommendations

Results

IVA significantly transformed IIFL’s customer support, resulting not only in an overall reduction in operational costs, but also increased customer satisfaction.