February 6 2012: A Bangalore-based software product company, is helping corporates solve complex problems in real time, using a creative, human like “thinking, learning, inferring” approach that combines computer science, artificial intelligence, probability and statistics, psychology and behavior analysis. CustomerXPs offers a real-time customer experience management product called RICE (Real-time Intelligence Conversational Engine) and a real-time fraud management, compliance and monitoring solution RIMS (Real-time Intelligent Monitoring System). It has found clients in banking, telecom, retail, travel and web sectors – including ICICI Bank, one of India’s largest new generation banks.
CustomerXPs focusses on trying to get an inference with partial information in real time, based on fuzzy logic, explained CEO Rivi Varghese, in a special briefing for IndiaTechOnline.
“We help companies standardize and institutionalize their intelligence”, he explained. Banks all too often don’t look beyond transactions; but what if they could harness the knowledge about their customers to mutual benefit? If a customer asks for an additional cheque book before exhausting the one in hand, perhaps he or she has applied for a car or house loan and wants to provide predated cheques. This knowledge can be leverged by the bank to offer other complementary services.
Or knowledge gained from the FaceBook pages of customers may be useful in anticipating their financial behaviour or needs. But how many banks take the trouble? CustomerXPs does just this, Varghese explained.
The company licenses their product to enterprises like banks, telecom companies, retail players and web properties; they also get recurring revenues by way of Annual Maintenance Contracts (AMCs). After the base product gets deployed, enterprises can then choose from a bouquet of products which handle their specific business requirements. CustomerXPs’ product suite is compatible (and complimentary) with an enterprise’s existing products, Vaarghese stressed. In fact, the company’s products are able to leverage all the existing investments made by enterprises and can actually unlock a company’s true potential. http://customerxps.com