Robotics and cognitive computing in risk and rectification analysis increases customer retention

Understanding and mitigating risk is a critical element for every one of our clients. By carefully assessing and prioritising the risk profiles across our client’s customer base we could improve efficiency as well as enhance customer relationships.

The situation

We are working with one of the UK’s leading retail banks to understand the size of its conduct risk across the back book of customers. Using our product knowledge, conduct risk expertise and data analytics capability we are segmenting and prioritising the portfolio of risks and customer groups.

The solution

We are deploying our managed services and robotics expertise to help the bank reduce costs, improve quality and increase efficiency, whilst remediating customer cases. We are also adopting cognitive computing and innovative data science techniques to help it better understand how customers are responding, enabling them to further adapt and personalise the approach to various customer segments.

The result                   

This innovative approach is leading to impressive results for the bank and its customers. By evaluating the back book and ensuring that all customers have been dealt with appropriately the bank is building customer trust and loyalty. At the same time the bank is increasing efficiency and, with its back book resolved, can devote more time and resource to developing future business, applying the lessons learned from the rectification process.