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01. The Challenge & Solution

At the heart of all we do, customer satisfaction is paramount. To constantly improve customer experience in a fast-moving regulatory landscape, it is imperative that we continuously develop our operating model for wealth management business of tomorrow, enabled by data driven decision-making.

At BNP Paribas Wealth Management Asia, we have achieved an important milestone in the journey of being a more data-centric organisation.

We are leveraging artificial intelligence / machine learning technologies such as Automatic Speech Recognition (ASR) and Natural Language Processing (NLP) to make the unstructured “voice data” i.e. hundreds of thousands of recorded voice calls with our customers, more structured and meaningful for analysis. The first pilot of the operationalised tool in Asia was launched recently, helping the bank in gleaning actionable insights from customers’ conversations to:-

1)     Gauge customer engagement / satisfaction and act swiftly on customer feedback

2)     Simplify compliance and control processes i.e. faster and smarter control checks; eventually moving on from traditional sampling methods to risk based sample selection based on trends indicated by the tool

3)     Improve sales performance by generating metrics around sales behavior and identifying best practices 

02. Working Process

What makes this journey exciting is two-fold; firstly, BNP Paribas is among the first few wealth management organisations in Asia to apply AI technologies for such use cases; secondly, the internal processes are totally automated and the intelligence of the system is constantly improving as more voice calls are processed courtesy of the supervised AI engine and the future benefits are innumerable.

The tool is currently analysing voice calls in English and has been trained to understand the nuances of various ethnic accents. The future version which is already in development will also analyse calls in Cantonese and Mandarin accounting for 80-90% of all voice interactions in the region.

The project is driven by the Change Management team in Asia in close collaboration with Wealth Management IT and other Asia stakeholders. Our know-how is largely shared with other Global Asian and International Markets within the BNP Paribas Group. The tool was built in partnership with a conversational AI tech firm to develop the base infrastructure, keeping in mind future replicability with incremental efforts.

03. Perfect Result

Long Doan, COO Wealth Management APAC commented on the deployment of tool, ‘Simplification of processes and improving our customer journey is a key business driver; and to this effect the teams that have worked on this project have demonstrated the ability of bringing innovative thinking and collaborative approach to solutions that not only improve efficiency but also add value to business’.