MUMBAI, 06 April 2022: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced that TCS Conversa™, its conversational AI platform, has been designated as a Technology Standout among Retail Banking Intelligent Virtual Assistant (IVA) Platforms by Celent[1].
In an assessment of 10 IVA platforms, TCS Conversa was recognized for its advanced technology capabilities and breadth of functionality. According to the report, TCS has seamlessly embedded IVA capabilities with TCS BaNCS™, a positive step towards democratization of AI. It calls Conversa a strong contender for TCS BaNCS clients seeking to deploy conversational AI. The report also highlights TCS’ robust vision for Conversa and a full pipeline of product enhancements that are in the works.
Drawing attention to its strong functional capability, the report mentions Conversa’s natural language reasoning capability, no-code-dialog design and workflow as being out-of-the-box. It says that clients rated TCS favorably overall, and in terms of functionality, appreciated the conversation/dialog design features and technology-wise, ease of system maintenance was scored the highest.
The report goes on to say that as a systems integrator TCS has implemented many competitive IVA platforms. It mentions the global availability of Conversa, its multiple language and currency support and the tight integration with TCS BaNCS product portfolio as key strengths.
“Conversational AI is the future of customer experience and financial services firms want to unlock its full potential. They want powerful, next-generation bots that can process complex queries with a humanized approach. TCS Conversa, a feature-rich advanced AI platform, helps BFSI enterprises transform operations, while enabling personalized and highly interactive customer experience,” said K Krithivasan, Business Group Head, Banking, Financial Services, and Insurance, TCS. “This recognition is a reflection of our vision, market-leading capabilities in AI and wide adoption of our advanced solutions like Conversa.”
TCS Conversa is a secure, enterprise-ready, and domain rich conversational platform for organizations to quickly enable an intelligent conversational assistant for new and existing customer interfaces via chat and voice medium. It supports both on-premise and cloud availability with container support (private, public, hybrid, and SaaS).
The platform provides business friendly low-code flow orchestration as part of the administration portal for segregation of business logic from technology integration. It enables quicker multi-language configuration and business logic reuse across over 22 supported languages with pre-configured industry knowledge bases. TCS Conversa provides full-fledged and customizable conversation analytics and reports for both business and operation users.
It also provides ready-to-market adapters with a configure-once-enable-many feature for all the popular channels – voice devices (Alexa, Google Home), social (Facebook, Twitter), collaboration (SMS, Whatsapp, Slack, Hangout Chat, Sametime, Skype, Line, Wechat, Google Assistant, Telegram, MS Teams, Cisco Teams), IVR (Amazon Connect, Twilio Voice, Cisco, Genesys), and digital human (Uneeq).
According to Bob Meara, Senior Analyst, Celent, “Digitization is fueling the adoption of intelligent virtual agents built on conversational AI down the market. In retail banking, IVAs are being deployed for creating highly efficient and engaging experiences while driving productivity. A feature-rich, easily deployable platform that provides diverse support capabilities, interactive channel adapters and on-premise hosting, we find Conversa to be a leading solution for retail banks. This Celent recognition is based on the platform’s functionality, geographic availability, technology and integration capability and customer feedback.”
“TCS leverages its expertise in AI along with investments in innovation and intellectual property to help financial institutions maintain their competitive edge ahead of technology advancement. Our comprehensive portfolio of AI services and solutions is helping our clients reimagine customer experience, improve productivity and achieve operational excellence,” added K Krithivasan.