Wipro and Microsoft Team Up to Introduce AI-Powered Virtual Assistants in Financial Services
Technology consulting giant Wipro, in partnership with Microsoft, has unveiled a new series of generative AI-powered virtual assistants designed to transform the financial services industry, as highlighted in FinTech Magazine. These cutting-edge tools, named Wipro GenAI Investor Intelligence, Wipro GenAI Investor Onboarding, and Wipro GenAI Loan Origination, aim to enhance client engagement, streamline onboarding processes, and boost overall productivity within financial firms.
By integrating these virtual assistants into existing digital platforms through Microsoft Azure OpenAI, Wipro ensures a seamless user experience, providing financial professionals with a unified source of timely market insights and investor behavior analytics. This integration promises to significantly reduce the time required for document validation and investor interactions, thereby speeding up onboarding and loan origination processes.
Suzanne Dann, CEO of Americas 2 Strategic Market Unit at Wipro Limited, highlighted the transformative potential of these tools: «Generative AI opens a new era of possibilities for exceptional client experiences and enhanced productivity in the financial services sector. This new solution set, powered by Microsoft, will help provide better and faster market and product intelligence to financial advisors and banking professionals, enabling them to deliver more personalized and timely service to clients.»
Microsoft’s role extends beyond just providing the platform. The VAs will also utilize Azure Document Intelligence to enhance document processing capabilities, extracting actionable data with greater accuracy. Additionally, Wipro’s proprietary Gen AI framework, WeGA, will help minimize errors and enhance the safety and reliability of the VAs.
Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft, emphasized the collaborative effort: «Wipro has extensive financial services expertise, and we know that their new AI-powered virtual assistants will deliver innovation, scale, and meaningful business value for customers.»
Nagendra Bandaru, Managing Partner and President of Wipro Enterprise Futuring, also commented on the impact of these advancements: «The financial services industry is undergoing a rapid transformation led by fintech. Artificial intelligence will increase the agility of services we can deliver and drive better business outcomes for our clients. Our collaboration with Microsoft empowers us to amplify our capacity to harness predictive analytics and machine learning which ensures smarter decision-making, improved risk management, and personalized customer experiences.»
This initiative marks a significant step forward in supporting the evolving needs of the fintech sector, promising to enhance the capabilities of financial services professionals through innovative AI technology.