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Fintech Innovations for Human Resources

Fintech has penetrated through almost every process within financial services but the aspect of human interactions has been restricted largely to client relationships. There has been far less focus on interactions with potential employment candidates and between employees.
Although some HR processes are generic to all companies (like recruitment), some are specific to financial services (like financial training). Apart from the more obvious technologies of digitising processes like online/social media channels for recruitment and paperless solutions, there are emerging technologies that are enhancing the way employees perform their jobs, in some cases, redefining the activities themselves.

Client engagement through call centres and face to face channels are general time consuming and expensive. Natural Language Processing technologies, best known in “chatbots”, are replacing purely transaction conversations and then migrating to human interactions, improving both the client experience and releasing employees from laborious tasks.

Artificial intelligence is being used to improve employee performance, e.g. using predictive analytics/AI to assist to have meaningful conversations with clients. Other applications are that of cloning human expertise, i.e. isolating the characteristics of high performers and codifying these.

Digital, personalised training and induction programmes are also beginning to replace traditional classroom and static online training courses, which are now presented in multiple engaging formats.

Below are some HR tech examples from the Matchi platform:
  • Technology which transforms human expert knowledge and manual tasks into virtual experts which emulate human behaviour and problem solving.
  • Artificial Intelligence technology that makes tacit knowledge of top performing individuals or teams available to all
  • The 'Wordpress' of bot building for the finance industry. This solution is easy to integrate, can deliver customisable content and tracks user context and engagement.
  • Document analysis tool which reads and analyses large complex documents quickly. The tool learns and adapts each time it is used, improving accuracy over time. The tool also provides a secure, real time collaborative platform.
  • Natural Language Processing to address customer queries efficiently
  • User-friendly software platform for building and deploying predictive models
  • Provide actionable insights from analytics leading to predictive sales and service
  • A software platform that guides staff and customers through complex processes as a virtual coach.
  • Mobile learning management system that is cost effective and cloud hosted
  • Employee onboarding and engagement solution.

For more information on these solutions or to discuss your strategic needs and opportunities, contact the author, Terence Singh.



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