AI Saga for Wealth Management Advisor

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  Real time KYC risk of client helping RM take better decisions and properly advise the client

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  Integrated ESG score used by Pega Decision Hub to provide real time advice to RM and client

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  Full 360° view of the client. Provide better insights of who the client is and what they want

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  Based on what the client is requesting, Voice AI will provide a next best action to support the RM in their work

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  Voice AI extracts all relevant entities during the client's speech. This data will be used to support Decision Hub, Knowledge hub & CLMKYC

Inspiration

Pega platform is very powerful with front to back office capabilities which are not used to their full potentials. We thought that it would be great to help Wealth Management teams streamline more efficiently their work (especially the Relationship Manager) so that the client is highly satisfied and the team can focus on high added value tasks

What it does

SAGA AI supports the Relationship Manager (RM)from the initial contact of the client up to managing any Compliance and Regulatory requirement to fulfill client's need. Pega VOICE AI will help the RM record all information between them and the client. This information is then used to connect to the Research department to fetch the latest documentations, instead of having the RM look for it and respond to the client at a later stage. Also VOICE AI provides Next Best Action to the RM based on what needs to be done (i.e. Rebalance Portfolio) Pega Decision Hub will provide real time insight, advice and alternative solutions for the RM to share with the client, based on the context of the discussion. Every interaction between the client and the Bank requires a risk assessment and Pega CLM/KYC will provide to the RM the exact requirements and autofill them where relevant based on the client's input.

How we built it

We used all technologies provided above and used a Customer Service platform as a start. We then linked the VOICE AI to Knowledge Hub to extract the correct document, while at the same time extracting and collecting Entities from the client's speech. This info is then used in Decision Hub. We updated the Data Model to incorporate ESG scoring based on Reuters data. When client mentions a Stock, Decision Hub will analyse its ESG score and recommend a different value taking in consideration the Client's portfolio and need. Once all of this is done, since the client needs to fund it from an account held at another bank, a Source of Fund questionnaire will be created and automatically filled for the RM, to be sent to the client.

Challenges we ran into

The biggest challenge was to connect VOICE AI with CLM/KYC questionnaires as we had to fully integrate CLM/KYC on the Customer Service platform. On top of that, Decision Hub was upgraded to support ESG scoring, so we had to build the proper data model behind it

Accomplishments that we're proud of

It WORKS: making a Front To Back solution is amazing, and we think a lot of clients will look into it.

What we learned

I think that the biggest lesson was how to work with people in four different location (India, France, Spain, Switzerland and Australia). It was tough organising it, but the result is amazing. Always go with the best people to deliver the best products.

What's next for AI Saga for Wealth Management Advisor

Lets see how we can sell this vision to clients!

Built With

• pega