PRODUCTS
Automate. Innovate. Transform.
Our Solution Approach
Our Solution Approach Banks & Financial Institutions have traditionally been in the frontier of technology adoption. Focus so far had been to build a robust IT infrastructure and backend systems like ERP and Core Banking. Today the focus is shifting to front end customer facing applications as customer experience takes centre-stage.
Every BFSI enterprise is striving to deliver a seamless customer experience across the wide variety of channels that customers use – mobile, online, call centres, branches. On the other hand, life is becoming more difficult for the customer facing agents and relationship managers with ever increasing number of asset side and liability side products to sell.
Right Prompt Technologies’ endeavour is to make life easy for the banks agents and relationship managers by providing right information at fingertips, easy product comparisons, natural language querying, product summarizations, recommendations and so on.
The same benefits are equally valid for DIY customers.
BFSI are also under extreme competitive pressures. They want to roll out solutions in the shortest possible period. Time-to-market has never been more important. Also given the dynamic market and regulatory environment, the need for agility and flexibility can hardly be over emphasized.
This calls for front-end customer facing applications to be built on modern enterprise grade workflow platforms that can be quickly configured to roll out customised solutions and where basic platform attributes of performance, scalability, high availability and security are guaranteed.
Our Product Philosophy
Right Prompt consciously decided to leverage the world’s most robust and fastest growing intelligent workflow automation platform – ServiceNow – to build its solutions. These solutions are therefore inherently scalable, deliver millions of transactions with great performance throughput along with enterprise grade security and data integrity. We have also leveraged the power of ServiceNow Low Code/No Code App Engine (Gartner Magic Quadrant Leader) and powerful Integration Hub and other pre-built workflows like Financial Services Operations
We have combined the power of ServiceNow Platform with deep knowledge and extensive experience of the BFSI domain to create multiple customerfacing applications that make life easy for Banks’ Agents and Relationship Managers, boosting their productivity and directly contributing to Banks revenue and Margin incomes.
The net result is the fastest time-to-market solutions
Smart Assurance Solution
Smart Assurance is our comprehensive Insurance Distribution Platform designed for Corporate Agents (Banks & NBFCs) keeping their Relationship Managers at the centre. The objective is to make it as easy as possible to sell the right insurance products. We do so by providing all insurance related information on fingertips, allowing easy product comparisons,asking questions, and getting answers in simple English, Recommendation Engine to match the right product with the right customer profile, Commission Reconciliation and automatic Regulatory Compliance reporting.
Key Benefits
- Built on highly scalable and secure ServiceNow Platform.
- AI based smart comparison across plethora of insurance products.
- AI driven Recommendation Engine for personalised product matches
- Keep track of all Audit Trails and history for compliance check.
- Effortless Integration with third party applications for enhanced functionality.
Smart Aggregator (Insurtech) Solution
Corporate Agents like Banks and NBFCs struggle to get new insurance product information in time resulting in substantial time-to-market opportunity losses which often stretch to months. Making changes is product configuration is also complex and bothersome. As is integrating with multiple Insurance Providers’ systems and APIs due to differences in technology standards and data formats.
Smart Aggregator provides a centralized platform for integrating heterogeneous systems, allowing organizations to connect disparate applications, databases, and services regardless of their underlying technologies, protocols, or data formats. This flexibility enables seamless communication and data exchange across the entire enterprise ecosystem.
Key Benefits
- Faster Product On-boarding
- Easily customize data model changes
- Facilitate interoperability across diverse protocols
- Secure and scalable Cloud Platform
- Policy Summarization Engine – to summarize complex policies for easy understanding
- Quickest Go-To-Market in few weeks
Smart Lead Management System
Smart Lead Management empowers agents with intuitive tools for tracking, nurturing, and converting prospects. It also enhances agent efficiency, maximizes lead potential, and delivers personalized experiences to drive conversions and boost revenue. Smart Lead Management Solution supports multi-channel and encourages data driven decisions and improved targeting.
Key Benefits
- Faster Product On-boarding.
- Very comprehensive – covering Lead Generation, De-Duplication, Scoring, Assignment, Qualification, Activity Management, Closure including Reports and Dashboards.
- Mobile version supports Geo-tagging, Maps, Notifications through SMS & WhatsApp, Logging Meeting Notes. It can work in areas of low connectivity or completely offline.
- Fast to deploy and easy to integrate. It can be customized and deployed in a matter of a few weeks.
- Can be deployed independently or tightly integrated with our Smart Assurance or Smart LOS.
- Leverages ServiceNow Platform and uses React Front-End for attractive Mobile UI/UX.
Smart LOS
Welcome to the world of Smart LOS with pre-configured workflows that can be quickly customised and deployed in a matter of weeks. Smart LOS comes built in with all necessary integrations so that manual interventions are minimal and processing times are reduced significantly.
Features
- Streamlines loan management journeys by automating data collection, verifying documents, automating underwriting, sanction, and disbursal workflows, and enabling third-party integrations.
- Integrates with CRM systems to maintain the borrower profile and track them until the final repayment.
- Helps lenders process loan applications at higher volumes by mitigating potential instances of manual errors.
- Flexible in terms of Configurable Workflows and Business Rules and provides easy integration with internal, as well as external systems.
- Support all LOS journeys – Personal, Auto, Home, MSME, Loan against Property, Gold, Education, Healthcare, Joint Liability Group, etc.
Smart Compliance Reporting Tracker
Chief Compliance Officer (CCO) of Bank/NBFC need to track the non-submission of the reports to RBI at mandated frequency (weekly, fortnightly, monthly, quarterly, half-yearly and/or yearly). However currently Banks do not have a streamlined system for compliance tracking. They are mostly ad-hoc and Excel based. There is high dependency on individuals for tracking and follow up. Slippages earn censure from RBI and Other Regulators even leading to temporary business freeze.
Right Prompt Smart Compliance Reporting Tracker, based on intelligent workflow platform automates the task of tracking the compliance reports due from both makers and checkers and provides dashboard to the CCO and other stakeholders on submissions status of different reports.
Features
- Apart from tracking the reports, it sends automatic notifications to makers and checkers in different departments.
- The dashboards help the Chief Compliance Officer and other stakeholders to track and collaborate.
- It helps in internal monitoring for RBI compliance and can be used of both internal and external auditing purpose.
Intelligent Assistant
For both Agents and Customers, insurance and other financial products are typically difficult to understand or comprehend. They struggle with information overload. Additionally, most financial product information is in English hindering comprehension further. This makes it difficult to compare products, check for fitment or get simple answers for informed decision making or providing right guidance. The result is customer and agent dis-satisfaction, poor user experience and mis-selling.
We use custom Artificial Intelligence and Machine Learning algorithms to build India specific Insurance Intelligence Systems. This helps to answer text queries in conversational English and provide summarization of specified documents as requested. Relationship managers and end-users can now quickly decide on the right policy for specific requirements and enabling the right match making between different product offerings and the user needs. It cuts down the time-to-decide improving overall efficiency. This GenAI engine can be easily plugged into any workflow-based solution, be it SmartAssurance, Smart Lead Management or Smart LOS with the objective of end-to-end customer delight.
Key Benefits
- Provide Agents with relevant and correct information at fingertips.
- Help answer queries in simple, natural language.
- Quick summarizations make complex documents easy to understand and explain.
- Helps better decision making and prevents mis-selling.
- Improved employee and customer satisfaction.