What Cordiant on DataStax can deliver to Banks

Phase I

Internal Communication System that eliminates email overload and the use of consumer apps like Whatsapp

The chat-based workspace on Cordiant, a 100% Slack/Whatsapp alternative that runs inside the bank’s secure perimeter, combines chat, documents, people and tools, in one place.

While branches, regional offices, departments and teams can communicate in the moment with each other through Cordiant Chat, they can also use Cordiant’s Formal Internal Conversations which enable complete tracking of every single response and reply within a conversation.

Together with Cordiant Chat and Cordiant Formal Internal Conversations, banks can completely eliminate email and achieve “in-box zero” for internal communications.

With the bank’s own modern communication infrastructure installed inside the network, bank employees can also avoid the use of consumer apps like Whatsapp, where there’s always the possibility of the data being shared with or forwarded to unauthorized people.

Messaging and Collaboration

Additionally, with Cordiant’s Formal Internal Conversations, each employee will know exactly which conversations require their response and also which conversations have still unread responses from peers and co-workers.

Document Management and Information Publishing

Cordiant enables the creation, storage and sharing of documents for authorized personnel within the bank.

Field agents can use the power of Cordiant on the mobile to securely send photos and videos directly to the bank’s repository instead of using consumer apps like Whatsapp,

With Cordiant in place, banks can efficiently manage large volumes of both statutory and process-generated documents.

And with Activity Tracking, every single activity like view or edit, upload or download of a file is tracked for each file or document in the bank’s repository.

eLearning including Compliance-Related Learning

Cordiant enables the continual development of the bank’s workforce and advances the accomplishment of bank’s missions and compliance responsibilities through simplified and one-stop access to high quality elearning content, courses and services

By rolling out eLearning, banks can massively reduce the load on its regional and national training centers. With Cordiant deployed, employees and new hires do not have to travel to the training centers as often as in the past. Banks will lose fewer work-days due to employees travelling to these centers and also accumulate substantial savings in travel and boarding expenses.

Additionally, banks can stay statutorily compliant and auditable on all its training obligations and keep its workforce fully informed about the latest compliance requirements as well as industry best practices.

Customer Support using Conversational User Interface and Chatbots

With the Cordiant Customer Support module rolled out, bank customers have the choice of using a Whatsapp-like conversational user interface for support issues, instead of using the conventional IVR system which has been a source of frustration for most customers.

The Cordiant Customer Support System for Banks is powered by automated Chatbots that talk to the customer at the first level. And if needed, the Chatbots will query the bank’s back-end systems to provide specific information and resources to the bank’s customer without the customer having to talk to a human.

The Chatbots have the ability to scale horizontally to talk to any number of customers in parallel. Also, they can automatically hand over control to a human support person in case a customer issue cannot be resolved at their level.

Real-time Visibility for every single Branch

With Cordiant installed in-house, branches and their personnel get way more visibility than have been the case before.

Regional, National and International offices and branches can communicate seamlessly with each other. Branches can expect and derive a higher level of support from their regional offices due to streamlined communications and reporting.

Projects and Operations Management

Through Cordiant Projects, banks can seamlessly rollout modern agile project management methodologies to manage short-term as well as long-term projects with unprecedented efficiency and massively enhanced visibility on project progress.

Project teams can be set up for specific projects like new branch openings, for the launch of a new product or a service or for marketing campaigns .

Bank IT teams can leverage the agile project management methodology of Cordiant Projects to manage new systems development and roll-outs and also to manage 24/7 support operations.

Task Management

The Task Management module on Cordiant handles stand-alone and recurring Tasks outside of Projects and helps keep track of individual and team tasks that have to be completed in a timely fashion.

Cordiant Task Management is tightly integrated with Cordiant Chat. And through Cordiant’s APIs, it also integrates with the bank’s core applications and sub-systems.

Specific events in the bank’s core applications and sub-systems can be made to automatically trigger tasks to be executed by a person or a group. This will also generate corresponding messages in Cordiant Chat notifying the assignees about the specific Task. All task notifications are appropriately color-coded to reflect the current status of the task - not started, in progress or completed.

The Task Management module on Cordiant helps banks deliver markedly superior customer service and maintain the highest levels of regulatory compliance at all times.

Consolidation of all Unstructured Data into a single in-house Data Store

With all of the above done, banks can consolidate almost all their unstructured data into their own in-house data repository running on the always-on data management platform DataStax Enterprise (DSE).

This is typically 80% of all the data in a bank that has hitherto been silo-ed in a multitude of tools and repositories, including email, file folders, network file shares and practically never used thereafter.

Live Indexing and Search

The live indexing engine of DSE’s Search feature allows banks to perform complex queries with multiple clauses, ranges, or full-text fuzzy search. Additionally, modifying database schema in DataStax Enterprise is a nearly instantaneous operation requiring zero downtime or performance loss. Combined with the live indexing engine, flexible schema changes allow banks to easily adapt to new business requirements, consume new data sources, and support new access patterns.

Zero-Disruption Rollout

Phase I of Cordiant can be rolled out with zero disruption and the bank will start deriving benefits within a few weeks of the rollout.

Phase I will also prepare the bank for Phase II where the Bank can leverage the power of DataStax Enterprise infrastructure to further enhance its competitiveness in the marketplace by leveraging its data real-time in ways thought impossible in the past.

About DataStax Enterprise

DataStax Enterprise is the always-on data management system deployed by 9 of the world’s top 15 banks. It has a multi-model database that provides support for key-value, tabular, JSON/Document, and graph data models.

Where would you be after Phase I?

  • You have rolled out an internal communication system where all bank employees can communicate and share files in the moment of need using a familiar chat interface. You also have a framework for formal internal communications, where not a single message falls through the cracks. You are at ‘inbox zero’ for your internal email.
  • You have a user-friendly document management system that is tightly integrated with your internal communication system, with full version control and activity tracking.
  • A robust eLearning system that supports mobile learning and compliance learning streamlines on-boarding of new hires and delivers continuing education for existing employees. You depend less on your regional training centers for your ongoing training needs, saving considerable costs for the bank.
  • A chatbot-driven automated customer support system that can auto-scale horizontally keeps you ahead of the competition by delivering a significantly enhanced experience for the bank customers. You see markedly improved customer satisfaction, reduced customer churn and lower customer support costs.
  • Your branches, both national and international become way more visible to the regional offices and to the HQ through streamlined communication and also better visibility for the personnel at the branches. You see enhanced performance and better reporting from the branches.
  • Projects like new branch openings, new product and service launches are now managed through modern agile project management methodologies. Bank IT Teams can use new generation agile project management tools that run inside the network.
  • Instead of using email to assign tasks, people now use the Task Manager to assign and manage one-off as well as recurring tasks. Back-end systems auto-assign tasks to a person or a group on the occurence of specific events resulting in better customer service and enhanced compliance.
  • Almost all your unstructured data is now in a single data store powered by an always-on enterprise-class data management system deployed by 9 of the world’s top 15 banks. Your data is also live-indexed for quick and powerful search.
  • You are all set for Phase II

Phase II

Building the Bank’s Smart Data Lake through the Enterprise Knowledge Graph

In Phase II, we build the bank's “smart data lake” in an unlimited Enterprise Knowledge Graph using DataStax Enterprise Graph (DSE Graph) and Apache Spark.

The bank’s Enterprise Knowledge Graph will integrate both structured and unstructured data allowing all users to explore and analyze their data intuitively without specialized data analytics or query language skills.

With the Enterprise Knowledge Graph in place, the entire data of the bank will be semantically connected for any authorized person to run queries on the graph and get the results straight-away instead of having to depend on data scientists and IT to deliver analytics.

The Enterprise Knowledge Graph democratizes big data analytics and creates “citizen data scientists” in the bank. Every employee becomes a potential data scientist as the graph can be queried easily for the information they are looking for, subject to access permissions based on the specific role of the employee.

We use Apache Spark, which is integrated with DataStax Enterprise to update data into DSE Graph from the bank’s Line of Business applications and sub-systems. These updates will happen first with the historical data and then happen in intervals as short as milliseconds based on the specific nature of the data and how the bank wants their data to be reflected in the Enterprise Knowledge Graph.

The bank may start small and extend the graph over time to widen the scope of their Smart Data Lake as represented by the Enterprise Knowledge Graph.

The Enterprise Knowledge Graph being a single, self serviceable repository of all data will support a variety of use cases across departments.

For instance, in a 360 degree view of customers that evolves from the Enterprise Knowledge Graph, different departments can go to the same repository of data to determine each point of interaction the customer had with the bank and its various services and identify opportunities for improvement of the customer experience, for cross-selling, for providing better customer service and lots more.

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