Leading technology services provider Wipro, which is ranked among the top 10 financial services consulting firms, has announced that it is working with Microsoft to introduce a line of generative AI-powered cognitive assistants called Wipro GenAI Loan Origination, Wipro GenAI Investor Intelligence, and Wipro GenAI Investor Onboarding.

These new virtual assistants (VAs) will help financial services companies increase client engagement, speed up client onboarding, and increase efficiency.

Microsoft & Wipro: Assisting financial experts

Wipro will be able to offer financial professionals rich market information with timely insights on investment products and investor behavior by utilizing Gen AI.

Furthermore, according to Wipro, by drastically cutting down on the time required to authenticate documents and provide contextually appropriate answers to investor inquiries, its new VAs can speed up the loan origination and investor onboarding processes.

Wipro's new cognitive assistants, powered by Microsoft Azure OpenAI, will connect with current digital and mobile platforms to provide financial professionals with a smooth user experience from a single information source.

"Generative AI opens a new era of possibilities for exceptional client experiences and enhanced productivity in the financial services sector," states Suzanne Dann, CEO of Wipro Limited's Americas 2 Strategic Market Unit.

"This new solution set, driven by Microsoft, will assist financial advisors and banking professionals receive better and quicker market and product knowledge, allowing them to give customers with more prompt and personalized service.

"By eliminating the numerous, frequently repetitive steps required to onboard new investors or originate loans, these solutions will also reduce the amount of time spent on paperwork." We're excited to work with Microsoft more closely in this area and keep providing our financial services clients with state-of-the-art solutions.

Microsoft Azure: Facilitating Wipro VA accessibility
Wipro's new VAs will be accessible on Azure App Services and operate on Microsoft Azure OpenAI, making them easier to use for financial services professionals.

"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," says Bill Borden, Corporate Vice President, Worldwide Financial Services at Microsoft.

Azure Document Intelligence is an additional Microsoft tool that Wipro's VAs will use to apply sophisticated machine learning to extract text, key-value pairs, and structures from documents to provide actionable data.

WeGA, Wipro's own Gen AI platform, will also support the VA solutions by lowering hallucinations and enhancing the precision, security, and traceability of replies.

With the help of Wipro's solutions, the fintech industry is supported in a way that is rapidly developing. Wipro Enterprise Futuring President and Managing Partner Nagendra Bandaru is enthusiastic about the extra capabilities that Gen AI may offer.

According to Nagendra, "fintech is driving a rapid transformation in the financial services industry." "We will be able to provide services with greater agility and better commercial outcomes for our clients thanks to artificial intelligence.