Celent has recognized TCS Conversa, a conversational AI platform from Tata Consultancy Services (TCS), as a Technology Standout among Retail Banking Intelligent Virtual Assistant (IVA) platforms.
Celent compared ten such IVA platforms, among which TCS Conversa was named the best. The conversation AI platform achieved this because of its advanced technology and numerous unmatched functionalities.
TCS Conversa is a secure, enterprise-ready, and domain-rich conversational platform that enables businesses to easily implement an intelligent conversational assistant for new and current customer interfaces through chat and voice.
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An additional advantage of the platform is that it comes with support for both on-site and cloud models.
Senior Analyst at Celent, Bob Meara, said, “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.”
He also mentioned that Celent considered various factors, including the platform’s functionality, regional availability, technology and integration capability, and customer feedback before making this decision.
According to the report, clients gave TCS a positive overall rating, praising the conversational design elements for their usefulness and the ease of system maintenance in terms of technology.
TCS says that its conversational AI platform is a strong contender for its TCS BaNCS clients, in which the company had already integrated IVA capabilities as a step toward AI democratization. Celent’s report mentions TCS Conversa’s natural language reasoning capability, no-code-dialog design, and workflow as being out-of-the-box.
Business Group Head of Business, Banking, Financial Services, and Insurance, K Krithivasan, said, “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.”
He further added that this award recognizes their vision, market-leading AI capabilities, and widespread use of sophisticated products like Conversa.