This case study shows how we leveraged our Artificial Intelligence (AI)-based data contextualization platform to digitize documentation for a global risk solutions provider.
As we know…
Data and market information services companies face the challenge of sifting through massive volumes of data to provide their clients with the right insights and strategies. The scale of operations and the heavy reliance on manual data extraction practices aggravate the challenge.
For something as critical as risk management, which involves gleaning insights from tens of thousands of documents and questionnaires, the challenge can become a barrier. AI and Machine Learning (ML) powered intelligent automation can help companies revolutionize their data extraction processes.
Our client’s challenge was…
The manual extraction of responses from the Wolfsberg Correspondent Banking Due Diligence Questionnaire (CBDDQ) and Financial Crime Compliance Questionnaire (FCCQ) and the subsequent feeding of data into their proprietary application.
The questionnaires were several pages long and had over 300 questions, leading to an average of 75 minutes spent per questionnaire and the risk of errors and delays in go-to-market.
Stepping in as a transformation partner…
WNS Analytics, our data, analytics and AI practice, harnessed intelligent automation to help the client accelerate data extraction while delivering the highest levels of accuracy.
Leveraging WNS Analytics AI Platform, a core pillar of WNS Analytics, we deployed our AI and ML led data processing platform, SKENSE, to create a strong data foundation and improve the client’s time-to-market.
Key aspects of the solution included:
- Automated ingestion of structured and unstructured data
- Contextualized and structured output with relevant key-value pairs
- Final output pushed to the target client application for downstream processing
- Intuitive user interface for manual exception management
- Trained ML algorithms customized to meet the client’s specific needs
The use of SKENSE allowed the client to…
Automate the data extraction process, reducing errors and expediting time-to-market. Key benefits included:
- 75 percent improvement in productivity, leading to reduced average handling time
- Customized and regulated workflows aligned with financial sector standards
- Insights-driven systems to help fine-tune processes for higher accuracy and efficiency
- Quick and seamless integration with client applications
About WNS Analytics:
WNS is a digital-led business transformation and services company with 60,513 professionals across 64 delivery centers worldwide, including facilities in 13 countries. WNS combines deep industry knowledge with technology, analytics and process expertise to co-create innovative, digitally led transformational solutions with over 600 clients across various industries. WNS Analytics is the Data, Analytics and AI practice of WNS that enables business decision intelligence for clients by combining Artificial Intelligence (AI) and Human Intelligence (HI). We cater to 250+ global companies including Fortune 100 and Fortune Global 500 organizations. WNS Analytics is a robust practice of 6,500+ Domain, Data, Analytics and AI experts with proprietary AI-led assets and innovative technologies. We enable businesses to make transformative decisions backed by data-led intelligence, ensuring differentiated outcomes. WNS Analytics is an end-to-end Consulting-to-Implementation partner delivering business goals for clients with an integrated ecosystem of co-creation labs, strategic partnerships and outcomes-based engagement models.
To know more, visit https://www.wns.com/capabilities/analytics