The Muthoot Group, one of India’s leading business conglomerates today announced the launch of its Chatbot MATTU & MITTU [Muthoot Advanced Technology Transformation Unit (MATTU), Muthoot Intelligent Technology Transformation Utility (MITTU)]. MATTU & MITTU will be represented by two elephant mascots that come together to denote the Group’s famous logo. The company is first in the Indian Gold Loan industry to use a bot on its official website MuthootFinance

Image Source

‘MATTU & MITTU’ is an Artificial Intelligence powered Virtual Assistant that will offer 24/7 customer assistance and instantly respond to customer queries across The Muthoot Group’s diverse products and services; ranging from Gold Loan, Insurance, Money Transfer, Forex, Mutual Funds, Home loan etc. The AI-Bot is also said to act as a financial advisor, helping break myths around Muthoot’s flagship product – Gold Loans, and enabling customers to make informed decisions.

It will help the customer to register, get details about Gold Loan/other financial products, apply for a Gold Loan scheme, locate the nearest Muthoot Finance branch etc. Among many other attractive features of the Bot, MATTU and MITTU will also provide

  • AI assisted live chat
  • Predictive text
  • Rating and instant feedback facility
  • Natural language processing
  • Suggestive/informative conversations
  • Specialized advice based on customer inclinations
  • Personalized advice through recognition of past behaviour patterns
  • Onsite support at a branch, without involvement of staff

Speaking about this development, Alexander George Muthoot, Deputy Managing Director, The Muthoot Group said

We, at The Muthoot Group, have always been at the forefront of adopting technology and transforming customer experience by providing them instant solutions to their financial needs. ‘MATTU & MITTU’ is our latest addition to some of our already existing technologically advanced systems like Core Banking Solution [CBS], Customer Relationship Management [CRM], iMuthoot Mobile App etc.

We serve more than 2 lakh customers everyday, and through our newly launched Chatbot, we aim to redefine seamless customer experience by being present where they are – Online. The bot is designed to increase the quality of the relationship we have with our customers by enhancing and personalizing their financial journey with us.

About The Muthoot Group

The Muthoot Group has a family business legacy of over 800 years. The Group started as a small trading business enterprise in Kozhencherry, a remote village in the state of Kerala. Since its formation, the company, under the leadership of its key management – Shri M G George Muthoot (Chairman), Shri George Alexander Muthoot (Managing Director), Shri George Thomas Muthoot (Jt. Managing Director) and George Jacob Muthoot (Jt. Managing Director) has broadened its scale and widened its geographic scope of retail operations.

Today, The Muthoot Group is a multi-faceted business conglomerate comprising 18 diversified divisions including Financial  Services, Wealth Management, Money Transfer, Forex, Securities, Vehicle & Asset Finance, Media, IT, Healthcare, Housing & Infrastructure, Education, Power Generation, Leisure & Hospitality, Plantation & Estates, Precious Metals, Travel Services, Housing Finance & Overseas Operations.

Technology is evolving at a very fast pace and our waiting times [in most of the aspects] have become shorter. We want things to be better and much faster as compared to the past. Technology & Automation are acting as major disruptors in each & every sector, be it IT services, manufacturing, etc. since it results in time saving thereby reducing the overall costs!

Image Source – ChatBot

Artificial Intelligence [AI], Machine Learning [ML], BlockChain, etc. are the major emerging trends and many organizations are leveraging these technologies to solve business critical problems. Talking about Chatbots, they are used as an instrumental tool to interact & engage with customers. Chatbots fueled by AI has come a long way in recognizing the content – and context – of customers’ requests and questions [Source]. Apart from customer service, one area where Chatbots are making a dent is ‘Human Resources’.

HR Chatbots can be quite instrumental in employee on-boarding, answering generic employee queries, collection of employee data, etc. For e.g. When an employee applies for a Sick Leave and the request goes to the HR chatbot [that is online 365 days a year], the request can be accepted/rejected instantly by the HR! HR personnel can be relieved off their mundane & repeated items and focus on more important activities for the betterment of the employees.

Mumbai based startup Cyber Managers Software Services [CMSS] siezed an opportunity in the ‘HR Automation’ space and have released a number of products to improve the overall efficiency of the HR department, including H# [H-Sharp] which is an HR chatbot. We had a detailed interaction with Godwin Pinto, Business Head, CMSS about the product, problem being solved, future of chatbots in HR landcape, etc.

Please give a small brief about CMSS and its founders

Cyber Managers Software Services [CMSS] is a provider of ‘totally integrated solutions’ in the areas of software products and services catering to HR and BFSI domain. The organization works on an ancient Indian work-ethic of ‘Manasa > Vacha > Karmana’, meaning ‘we commit only to those tasks which we think we can accomplish and deliver upon our commitment’.

The company was founded by Keyur Thakore and Chirag Purecha, who is also the CEO. Chirag co-founded three businesses starting with CMSS, a 150+ member IT Solutions Company while the other three continue to grow in both size and repute.

Chirag dropped out of an engineering college to start CMSS along with a classmate. He has seen CMSS evolve from one of the survivors of the dot com bubble burst in the early 2000 to a niche HR IT solutions and products provider that it is today.

He has also co-founded two other divisions : CogMat, a Digital Media Marketing Agency which has 30+ clients of repute and a growing team of more than 40 & Phyder, a Moblie Application Development which already has the likes of ICICI Bank and RBS in their client list within a year and a half of existence.

Chirag now spends his time overseeing the businesses, helping them learn from experiences and giving occasional lectures at engineering colleges from product design to coding.

What are some of the core products of CMSS and how it is changing the HR landscape [via its HR centric software applications] ?

All our products are designed to make HR transactions more engaging for an employee at a very large scale. Currently, our products are used by some of the largest organizations in India and is helping them in identifying and managing talent through e-Ncompass and e-Nhancer

Provide contemporary Mobile interface to their existing legacy and bespoke systems thus, increasing usage and acceptance and transacting on the Go through H# and e-Ngage.

Some of the key products are the following:

e-Ncompass – A semi-customizable 360 degree feedback tool to measure training needs by conducting feedback from peers, subordinates and superiors.

e-Nhancer – A continuous feedback and performance management tool to record and aid review processes. It also helps identify and manage talents within organization.

e-Ngage Mobility – A platform to facilitate single unified mobile interface to multi third party systems.

H# – An HR chatbot – A conversational platform with AI and ML capabilities to perform self service in human like form.

Every sector is now touched by technology e.g. AI, ML, Data Intelligence, etc. including Talent Management, how has been the transformation of HR when Social & Digital Data are the key data points in hiring ?

Recent years has seen significant adoption by HR for social data, not just for employee profiling but also for internal communications and networking through tools provided by major social platforms e.g. Facebook workspace.

What were some of the key problem areas that your team encountered thus giving rise to H#

– Navigating through and getting individual profile specific answers from large policy documents was always cumbersome to employees

– There were multiple touch points/applications to access various HR IT systems which requires employee familiarity with varied interface

– Repetitive queries to HR help-desk was one common areas that needed automation

Can you please touch upon the key features of H# [The HR Bot] ?

H# is a bot specifically designed & trained for employee engagement. Some of the key features include:

  • Individually tailored policy queries
  • Automate most frequent queries raised to and resolved by HR help desk
  • Form based routine transactions like leave, muster, expense, etc application facilitated through conversations
  • Ready connectors for communication systems like Yammer, Facebook Workplace, Skype, WeChat, Lynk, etc
  • Self learning algorithms

What is the revenue model of H# and whether it can be used by large sized corporations ?

H# is a premium solution without limitation on number of users. It is available as cloud and on-premise solution. It is designed and tested for large scale transactions and is been successfully used by large sized corporations

When it comes to chat-bots/AI, the application of that bot becomes limited since there are language constraints [English/Hinglish language],varied sentiment analysis and more, how effective is the AI, NLP, etc. behind H# to handle such varied scenarios ?

H# being closed domain bot. We have limited the control on responses that it can respond. However, information obtained for context where bot tires out is recorded for future training.

Can you name some of the existing customers of H# and how has the response been so far ?

Well due to client agreements naming them would not be possible. There has been a positive adaption when it comes to specific information retrieval from large documents, which is seen as a time saving factor. e.g. What are the privilege leave policy applicable for me?

Does using the H# chat bot mean that major part of HR, especially ones dealing with leave, etc. department can be replaced with H# chat bot or both of them need to co-exist in the HR eco-system ?

H# is designed to aid HR professionals at their job and not to replace them. Of all domains, HR is the one where co-existing is indispensible. The bot therefore does not replace HR personnel, rather it reduces their efforts resolving mundane and repetitive tasks which can be automated. H# provides them with an assistant who is expert on the knowledge of policies.

Can you comment on approximate savings in OPEX that a company using H# for its HR & salary needs would make vis-a-vis hiring a physical HR ?

All of our products are low on infra footprint and built on opensource softwares. Therefore, they require a minimal CAPEX. On the OPEX it would help organization save substantially on helpdesk and training operations.

Do you have SDK of the H#, if not, are there any plans in future to release the H# chat-bot SDK so that third-party developers can build apps on the platform ?

SDK is available as a part of the core product to implement in their HR touch points. These include Facebook workplace, Yammer, Slack, Flock, Lynk, Android, iOS and web. However, the product design does not restrict the developers from enabling H# on to any other bot enabled platforms.

Which are some of the existing competitors of H# and what are some of the stand-out features as compared to other HR chat-bots ?

A search for bot will give you a flood of companies offering the solution and most of these are built on existing AI like WIT, AI, etc. However H# is built and trained specifically for the HR domain with its own on-premise AI and is integral with any existing core systems, therefore we do not see other chat bots as direct competitors of H#.

Apart from HR Chatbots, what are some of the key technology trends you observe in the HR space ?

Adoption of technology within HR is on a swift pace and the availability of most of the solutions on cloud has helped organizations try and implement solutions faster with minimal risk. Analytics in the field of talent and performance management, collaboration tools for real-time performance management, unified interfaces, cloud solution integrators, AI based automation, etc. are some of the areas which would see a lot of interest from organizations in the HR Space.

That said, one technology trend where most organizations are focused on is mapping social data points to candidates/employees. This is for the existing & new recruits, where data gathering and identifying trends and patterns could be of utmost importance to organizations in taking decisions.

According to you, what are some of the key HR functions that can never be replaced by a bot e.g. Off late there has been lot of pink slips being handed over to employees in service based companies, such scenarios require human touch that can never be replaced by HR chat bot.

Human interactions involve understanding the sentiments and emotions. There are occasions where systems cannot have the same impact as a human conversation does. Some of the processes which will always need the human factor are Induction, Exit processes, Performance review discussions and Resolving grievances. Bot can definitely aid these processes, but again, it will always require a human involvement.

We thank Godwin Pinto for sharing his insights with our readers. If your organization is planning to adopt the more tech-savvy route to HR functions, than you should give H# a try. If you have any questions for Godwin or the CMSS Team, please email them here or share them via a comment to this article.

Cyber Managers Software Services [CMSS] has launched a talk Bot aptly named H# [H Sharp] designed for a natural language understanding and can make human – like natural conversation with the support of AI, NLP and machine learning.

H# can be easily plugged-in on different social communication platforms, external or internal and does not demand for a separate login or complicated interface navigations, get talking right on your twitter or any intranet communication platform that organization might be using currently.

A chat/speech bot which directly plugs into existing HCM [PeopleSoft, SAP HCM, etc.] – which has helped a leading bank to move beyond mere clicks to chat and speech as interfaces for their HRMS. Reducing transaction time by as much as 30% and correspondingly increasing usage, the chat bot allows employees and managers to engage with their existing HCM on an intuitive level.

Godwin Pinto, Business Head at CMSS said

The need for automating HR functions arose long time ago, as the world saw increasingly large corporates adapting software and apps taking over the mundane tasks of managing people at work. Historically, as HCM Systems were designed by engineers, they have stressed more on the ‘System’ component than the ‘Human’ component; the actual user who is going to be affected by it. This has resulted into systems which although extremely functional, limit themselves to manage and transact with Human Capital rather than engaging with it.

HR Bots has taken automation to an all new level, as it allows for interactive, response based real-time functions. Since User Interfaces [UI] and User Experience [UX] have undergone a sea-change in the last 5 years, especially after social networks have put the spotlight firmly on engaging with the ‘Human’ component, it is expected that HCM should not be left far behind.

Although HR professionals feel intimidated with the new technology, fearing their elimination from the HR roles, Godwin adds

HR Bots should not be seen as adversaries, but as a colleague, they are here to facilitate rhythm in daily HR tasks, for instance form filling, maintaining musters, and managing leaves, etc. Hence, the organization can utilize their HR workforce productively into tasks where a human touch or human reasoning is required.

Within the same corporation; one sees that while consumer-facing systems have interesting interfaces like bots and apps; Employee facing systems like HCM, have to make do with Retro User Experience till such time as the whole HCM is upgraded to a newer version or flavor. This leads to a huge experience gap for employees; who on the one hand have a highly engaging user experience as consumers; and on the other hand ‘transact’, click by click, as employees.

Features & Benefits of H#

  • Support for common HR functions like seek leave, muster, etc
  • Suggestive data intelligence for assistance in approvals
  • Ready connectors for HRMS like Peoplesoft/Fusion, SAP, etc.
  • Highly personalized responses based on user’s profile
  • Pre-trained for common HR queries

From induction to exit, H# helps perform HR related tasks like – getting salary information, applying for benefits and leave, fill forms, take surveys and even collaborate with other employees – through a unified chat, speech and mobile interface. All while giving HR a whole new touch point for employee engagement – with a hint of personality and as natural as having a conversation.

For more information about H#, please visit H-Sharp, the HR Bot