AWPL: Creating Futuristic BFSI Solutions

Date:   Tuesday , December 15, 2015

One of the leading Africa-focused banks in Zambia had a legacy system for customer on-boarding. The processes were manual and involved a lot of paper work. The need of the hour was to have a more modern solution that would reach out to their customers via digital channels. At the same time, the bank was also looking for a solution that could automate and manage the entire procedure, so that processes like account opening and KYC could be made more agile and visible. AWPL implemented a new digital solution powered by the Anthill innovation fabric that enabled omni-channel support for customer on-boarding. The solution was FATCA compliant and facilitated the bank to reach out to the customer via newer channels like portal, mobile and even walk-ins. The solution also eliminated the need for the customer to fill in paper-based forms or even submit photographs. All the above information is captured digitally including the customer\'s fingerprints as a part of KYC.

Dotsphere Case Manager choreographed the automation of the process for account opening. The bank had a lot of legacy customer paper records, which were also digitized and were made available to the end users via Dotsphere Case Manager. The solution thereby allowed complete digital transformation and served in bridging the gap between the digital and legacy. AWPL not only provided a system for customer on-boarding, but also partnered with bank and laid the foundation for a platform and a fabric that facilitates future digital solutions for other areas of business within the bank.

In another instance where one of the recently incorporated insurance companies selected AWPL Anthill solution as its innovation fabric for the basic tool set of their newly opened innovation lab for futuristic initiatives. The first problem that this toolkit solved is that of providing a single view of the customer with a self-service customer portal available on the web as well as mobile platforms. This was achieved with full integration with the e-submission solution, document capture, document management, and policy admin system. Using AWPL tools the insurer achieved 100 percent digital processing of all new business cases, thus making it efficient and competitive in the market. The solution enabled client to attain high level of customer satisfaction across multiple channel intake.

Another insurance company wanted to quickly modernize their user experience for their legacy policy admin system. They selected AWPL\'s Anthill to ensure digital transformation in their operations. Similarly, using its Anthill solution for agile product configuration, AWPL demonstrated to a leading insurance company the approach towards total digital transformation where distributors can be provided with choice of products that would appeal to their captive customers.

The Beginning

Incorporated in 1996, AWPL chartered into automation of financial industry through the expert hands of industry veterans Viraf Sutaria (Co-Founder & CEO), Romil Turakhia (Chief Global Sales & Marketing), Sunil Savara and Cyrus Patel. The first Indian to land in space, Rakesh Sharma is the Chairman of the board.

The Innovation Fabric

IT services companies are going through a major change and are trying to be focused on adding more value beyond plain manpower, by bringing in some IP assets or products. IT product companies are also undergoing change. The need for new-age products to solve new age problems is leaving traditional product companies behind and is forcing them to think in different ways. Banks are becoming digital and so are insurance companies. On the one hand, their competitors for consumers are no longer the traditional ones but beyond. On the other hand they still have to work within their legacy frameworks and problems. Those who cannot bridge the gap between digital and the legacy part will perish very soon.

The legacy part of the business, which includes paper, workflow, faxes, telephone and email,is shifting towards mobile, intelligence, and machine learning. AWPL is transforming such legacy companies to digital and making sure that both work together. Utilizing AWPL\'s Anthill platform, BFSI institutions make their way to mobility and analytics. It allows financial institutions to rapidly build variety of mobile applications with astute analytics at the back applying minimal skills. This product works as the \"innovation fabric\" for their customers. It\'s a platform, which democratizes mobility and analytics capabilities for all by ensuring there are minimal skills needed.

AWPL\'s other product suite, Dotsphere is a comprehensive case management tool, implemented to digitize, automate and manage enterprises in BFSI. A process-based application Pencil that is bundled with domain knowledge and integration makes case management faster and agile. With the efficacy of Pencil and Dotsphere, Gartner has regarded these products highly in their reports.

AWPL also provides, high-end niche services with the leading products in the industry through consultation and implementation expertise.

Innovation: The Absolute Key

Amid a customer-centric philosophy, AWPL follows a value-based culture with the backbone being the Strategic Leadership Team (SLT) which meets regularly. The candidates culled through a rigorous recruitment process bring new ideas to the company ensuring new innovation constantly. Marking \"innovation\" as the absolute key, Viraf says, \"Values mean a lot. The contract is only to keep the accounts in check, but for us, it\'s clearly what we say, we do and what you perceive is what you\'ll get. For us, people have been very consequential from the day one\". AWPL\'s cool technology team also had two of its representatives positioned in the top 10 places in India in the Code Gladiator contest where coders from prominent research labs of famous Silicon Valley companies and others participated.


Clients: Leading Insurance companies and Banks

Services: Case Management, Business Process Automation, Content Management, Data Analytics, Machine learning and IT Services and Applications for BFSI industry