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In February 2022, WorkFusion launched its AI-enabled Digital Workers. Santa Claus, long-time WorkFusion customer and never one to be outdone on the technology front, quickly adopted “digital elves” into his operations teams that power his naughty/nice and gift lists.
In these digital times that call for a Digital Workforce, how is St. Nick putting this form of AI to work at the North Pole, especially Digital Workers that are generally more adapted to Banking and Financial Services (BFS)? Santa is implementing WorkFusion’s Digital Workers with a mix of full Intelligent Automation solutions, pre-built components to re-purpose for other solutions, and custom Digital Workers.
Sanctions Screening? Naughty/Nice Screening with Evelyn!
Evelyn, is a digital Sanctions and Adverse Media Screening Analyst. For Financial Institutions (FIs), one of her primary skills is Name Screening Alert Review where she analyzes and investigates sanctions alerts regarding entities, individuals, and securities. Mr. Claus doesn’t have name sanctions screening alerts per se, but he does have a global list of children’s names and addresses that need to be continually matched with lists of naughty/nice assessments from schools, sports events, arts programs, and other opportunities where kids interact in groups. Like the typical bank, Father Christmas has been able to use Evelyn to auto-assess 80% of his name matches.
Another skill of Evelyn is Adverse Media Monitoring for FIs, where she searches and reviews databases and media sources to determine relevance of press mentions that are potentially adverse, compiling facts and records from investigations for compliance and internal audit trail. The Big Man in Red isn’t trying to avoid running afoul of anti–money laundering (AML) regulations, but he does have the need to constantly monitor news and social media to help bolster his naughty/nice determination of each child. Evelyn’s BFS impact is similar for Papa Noel, eliminating 80% of the time his elves used to spend reading through countless articles.
Perpetual KYC (pKYC)? Perpetual Know Your Children with Darryl!
A common desire of FIs is to shift from traditional, periodic reviews of customer data to an event-driven model of Perpetual Know Your Customer (pKYC). As Digital Workers are helping banks and financial service orgs make the shift to pKYC, Saint Nicolas has adopted a similar approach of his own: Perpetual Know Your Children.
Darryl, a digital Customer Due Diligence (CDD) Program Analyst is a key piece of pKYC efforts, typically capturing and interpreting documents like ownership and legal structure information for customer onboarding or KYC refresh initiatives, including quality assurance reviews of documents against customer records.
Kris Kringle doesn’t work with documents like articles of incorporation or trust agreements, but he does receive things like report cards from schools and daycares, with insights that are helpful to further assess naughty/nice, as well as build-out lists of proper toys. Like financial services companies, Santa once had an army of elves reviewing all the documentation manually but has since been able to shift over 60% of that effort elsewhere, not to mention his ability to be more event-driven.
Customer Service? Santa Letter Servicing with Casey!
One of the most important aspects of the North Pole’s CEO operation is handling the letters he receives from children, which have increasingly been received via email over the years.
Casey is a digital Customer Service Coordinator who engages with customers for required information on account opening and other key processes via email. For banking and other industries like insurance, transportation, and logistics, this Digital Worker evaluates and responds to service inquiries across different communications platforms, routing inquiries among internal departments to address customer requests and obtains internal approvals when needed.
For the Flying Reindeer’s Captain, Casey classifies every emailed letter into various categories, making it easier to understand the kids and their gift requests. This automation has also been augmented with a Custom Digital Worker to extract each toy request that is then mapped to the toys in Mr. Kringle’s Toy Database, further simplifying the ever-crucial lists of toys to produce and deliver. Each letter would take minutes for an elf to read and key into North Pole systems, but now the vast majority of the work is automated.
Putting Digital Elves to Work
St. Nick is putting AI to work at the North Pole in the form of digital elves that have vastly enhanced the performance of his team. WorkFusion’s Digital Workers power Fortune 500 enterprises like banks, financial services, and insurance, but are also the driving force of Christmas joy for so many. Santa’s increased workforce capacity and improved capability will enhance Christmas cheer for 2022 and years to come!
