Identifying the barrier of Language Communication
MOSL, caters to 100,000+ active customers across India, both retail and high net worth individuals. The company created monthly portfolio analysis reports for its diversified clientele to evaluate and communicate the performance of their investments.
Unlike the HNI investors, the reports generated for their retail customers were just a compilation of trading activity, inflows, outflows, positions, and balances in a dry tabular format. These transactional reports barely touched on the concept of performance. The broking firm lacked the bandwidth & financial viability to manually provide personalized human-advisory services to its retail customers.
Additionally, not every customer was adept in understanding portfolio reports filled with heavy charts and tables. Even the financially savvy clients were unable to comprehend and analyze the performance of their investments in the market as compared to their peers.
Moreover, since the majority of the investors belong to Maharashtra, Gujarat, and TamilNadu, they understood the regional languages better than English. Thus, creating and sharing portfolio analysis reports in one common language - English proved to create a barrier of communication between the portfolio managers and investors.
Key Problems Identified:
- Significant manual & financial bandwidth to provide human-advisory recommendations for each customer
- Tabular portfolio reports caused a communication gap between the clients and the portfolio managers
- Inability to send out investment reports to thousands of customers every month
- Incapacity to reach out to a diverse set of customers due to reports being generated only in English
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Case Study Unlocked!
Scaling personalized multi-lingual recommendations to half a million retail investors
The business team recognized they needed a solution that would enable them to prepare effective portfolio analysis reports for each customer without involving significant human effort. They chose Phrazor as it is the only solution that helps enterprises easily convert complex datasets into personalized narrative-based reports, at scale.
- Using Phrazor, the financial service company replaced the need for human advisors digitally, without any involvement of financial experts. The team could now generate detailed portfolio analysis with personalized recommendations in the form of easy-to-understand narratives based on natural language generation technology
- The personalized recommendations are auto-generated, based on the customer’s current portfolio performance and their investment goals. The reporting automation tool considers different types of assets in a customer’s portfolio to evaluate its performance and highlights key insights like – warning signs, detailed recommendations, market trends, etc.
- Using Phrazor, the team at the stockbroking firm could easily scale their reporting process by producing thousands of reports at the speed of light by using data of any size without disrupting the quality and consistency of the insights
- To eliminate the barrier of language and communication, Phrazor provides multi-lingual capabilities using which the financial service firm could generate portfolio statements in 4 different languages– Hindi, English, Gujarati, and Tamil
- The Phrazor team also created an interactive real-time dashboard for the company’s customers and advisors, where they could easily log in, evaluate, and restructure the portfolio on a real-time basis. The provided recommendations could be implied just with a click of a button.
- The real-time portfolio dashboard was also incorporated in the company’s mobile application to increase customer convenience and provide ease of access irrespective of the time and location
- Phrazor also assisted the financial service firm with multiple report-sharing options like a) Cover emails – which provides a summary of the portfolio insights b) Audio-Video reports – which compiles the entire portfolio analysis report with insights and recommendations into an audio-visual format c) PDFs – Customers can send the reports to themselves in a pdf format, at a click of a button from the dashboard itself
- To ensure data security and privacy, team vPhrase seamlessly integrated Phrazor with the company’s internal data sources via live APIs
Using Phrazor’s Natural Language Generation and Predictive analytics capabilities, the MOSL team could:
- Create easy-to-understand reports which benefited the customers to understand their investments better, leading to an increase in the number of transactions
- The analysts deployed to prepare monthly portfolio reports were reallocated to work on other higher-value tasks. This effectively led to the optimization of cost and human resources
- MOSL could seamlessly scale and reach out to thousands of prospects and customers at one go, as per their locale, language, and investment goals.
- The investors could easily anticipate the performance of their portfolio by creating different scenarios in the real-time interactive dashboards with zero dependencies