This document discusses developing success cases for financial services using blockchain, AI, and R&D. It provides two case studies as examples: one using blockchain for car insurance claims processing by providing transparency and detecting fraud, and one using AI and voice interfaces for private wealth management by leveraging algorithms and sentiment analysis to provide investment strategies and engage customers. The document emphasizes starting with the business need, problem, and goals to build solutions that simplify processes, increase trust, and decrease costs.
3. FULL STACK PROJECT MANAGEMENT
▪ Aligning project’s objectives to business strategy
▪ Translating business strategy into investment execution
▪ Leading the long-term high performing and engaged teams
Just hitting budgets and schedules is a necessary, but not
sufficient, success threshold
5. WHAT TO START FROM?
What is the problem?
Who has the problem?
Where does the problem occur?
When does the problem occur?
What does the problem impact?
6. WHAT IS A BUSINESS CASE
a justification for a course of action based on
the benefits to be realized by using the
proposed solution, as compared to the cost,
effort, and other considerations to acquire
and live with that solution
a written or verbal value proposition that is
intended to educate a decision maker and
convince them to take some kind of action
7. WHY?
Business case brings together benefits,
disadvantages, costs, and risks of the current
situation and future vision so that executive
management can decide if the project should
go ahead and whether it is a reasonable item
for investment
8. BUSINESS CASE PREPARATION
REQUIRES ASSESSMENT OF:
business problem or opportunity,
benefits,
risk,
costs including investment appraisal,
likely technical solutions,
timescale,
impact on operations, and
organizational capability to deliver the project outcomes.
9. SELF CHECK POINTS
▪ What is your goal?
▪ What’s stopping you from reaching the goal?
▪ How much change is needed to overcome the
problem?
▪ Are you certain this will solve the problem?
11. BLOCKCHAIN FOR CAR INSURANCE
CLAIMS PROCESSING
KEY OBJECTIVES
Every year insurers lose $100 billion on insurance criminals
Main reason - fraudulent or exaggerated insurance claims
Insurers are compelled by statute and Regulation to maintain
Special Fraud Investigation Units and a detailed antifraud
program to fight with this risk
In case claims are made against multiple policies held by
different insurers, it is difficult to detect the fraud unless cross-
industry data is shared
CASE STUDY:
12. BUSINESS NEED
Simplify customer journey – omit complex
claims processing procedure
Endorse poor customer experience – for
customers insurance contracts are complex
and difficult to understand legal documents
Decrease enormous paperwork and no
transparency for all parties
Empower fraud detection and risk
management (‘crash for cash’, multiple
claims, KYC risks and issues) for insurance
carriers
13. EMBRACING THE CHALLENGE
Provide transparency in claim processing
Recognise multiple claims for one accident
as Blockchain-network would know that a
claim had already been placed
Enforce claims and payments automatic
execution/processing by Smart contracts
when certain conditions are met
Increase trust with no single point of truth
and failure
Decrease transaction costs
14. SOLUTION DETAILS
The application covers main flows for three
roles in the system:
Agent
Adjuster
Client
Basic functions:
Create and manage claims
Assign adjuster
Process claims and payments
15. TECHNOLOGY STACK
Uplink (Adjoint) as Blockchain based
platform we partner with
AWS
VPS
subnet
Java Spring
16. AI AND VOICE INTERFACE FOR PRIVATE
WEALTH MANAGEMENT
KEY OBJECTIVES
Individual investment advisory practice for many years had no
significant changes in its process
Private wealth management requires direct interaction of the
advisee with a financial advisor
Manual (human) assessing information, trends, and market
sentiment to develop potential investment strategies
More than 70% of Millennials had not stepped into FS offices
for last 6 months and prefer digital communication
CASE STUDY:
17. BUSINESS NEED
Disrupt the customer journey for private
wealth management investors by omitting
the unnecessary intermediate
communication with financial advisers
Increase trust to the on-line solutions by
introducing smart algorithms based on
collecting open trading data, corporate
network and sentiments analysis
Decrease operational costs of investment
departments in banks
18. EMBRACING THE CHALLENGE
Leverage voice interface for Alexa Echo Show
integration to engage HENRY users and
Millennials
Utilize Artificial Intelligence and smart
algorithms for prediction of market trends
and best portfolio
Utilize Big Data approaches for aggregation
of various sources of information
Experience design for individual investors
smooth experience in private wealth
management decision making
19. SOLUTION DETAILS
Historical data on stock prices, volume
history, and market average
Sentiment analysis index based on reliable
news sources
Network science to embrace corporate
network effects.
The product provides investors three
alternative portfolio strategies to follow:
An optimal strategy
A minimum risk strategy
Highest returns strategy (highest risk)
20. TECHNOLOGY STACK
Predictive analytics (TensorFlow)
NLP for News processing and Sentiment
analysis
Algorithmic portfolio optimization
Alexa Echo Show
AWS
21. RECAP
Go from the need
Define the route cause
Know customer’s business
Think of the business value
Be proactive to ask/assess/validate