Hexaware Earns Double Recognition at Microsoft AI Solutions Foundry for AI Leadership

July 8, 2023
by
Hexaware Technologies (PRNewsfoto/Hexaware Technologies Ltd.)

Key Takeaways:

  • Hexaware Technologies, a global IT services and solutions provider, has received two prestigious awards at the Microsoft AI Solutions Foundry Program.
  • Hexaware’s innovative use of AI, specifically Microsoft Azure Open AI service, earned them a spot among the top 5 winners and an additional special mention.
  • Their BondReco solution was recognized as one of the highly coveted ‘Top 5 Winning Solutions’, leveraging generative AI capabilities to classify bonds into ERISA-eligible and non-eligible categories, enhancing investment safety and reducing manual processing times.
  • Hexaware’s Loan Audit Automation solution received the distinguished ‘Noteworthy AI Solution Award’ for its ability to expedite loan application compliance processes and identify potential Non-Performing Assets, leading to reduced Adjusted NPA rates.
  • Milan Bhatt, President & Global Head, Cloud and Data at Hexaware, highlighted their commitment to industry-specific AI solutions that save time, money, and contribute to a safer investment environment.
  • Microsoft India’s Executive Director, Global Partner Solutions, Venkat Krishnan, congratulated Hexaware for their achievements and innovative use of AI.

Introduction: Hexaware’s Success at Microsoft AI Solutions Foundry

Hexaware Technologies, a prominent global provider of IT services and solutions, has received two esteemed awards at the Microsoft AI Solutions Foundry Program. The program involved more than 30 exceptional teams, and Hexaware’s groundbreaking application of Microsoft Azure Open AI service earned them recognition as one of the top 5 winners. Additionally, they received a special mention for their innovative use of AI.

Recognition for Hexaware’s Solutions

Hexaware’s BondReco solution was acknowledged as one of the highly coveted ‘Top 5 Winning Solutions’. This unique solution utilizes generative AI capabilities to automatically classify bonds into ERISA-eligible and non-eligible categories, providing invaluable assistance in identifying safe and unsafe investments. The BondReco solution also significantly reduces manual processing times by over 40+ hours and helps cut audit fees by a substantial $7000.

Hexaware’s second solution, Loan Audit Automation, received the distinguished ‘Noteworthy AI Solution Award’. This solution expedites the loan application compliance process, enabling early risk assessment and identifying potential Non-Performing Assets (NPAs). Through its innovative approach, this solution has demonstrated the ability to reduce a bank’s Adjusted NPA rates by up to 50%.

Hexaware’s Comments on the Recognition

Milan Bhatt, President & Global Head, Cloud and Data at Hexaware, expressed his thoughts on the achievement, highlighting their focus on developing industry-specific AI solutions that transform industries and reshape business landscapes. By leveraging Microsoft Azure Open AI service, Hexaware aims to save time, money, and contribute to a safer and more transparent investment environment. The recognition received is seen as a reaffirmation of their mission to empower clients and the industry at large through groundbreaking AI solutions.

Microsoft’s Perspective on the Achievement

Venkat Krishnan, Executive Director, Global Partner Solutions, Microsoft India, commended Hexaware for their achievement and innovative use of AI to create unique solutions. Microsoft’s goal is to democratize breakthroughs in AI through Azure, enabling individuals and organizations to be more productive and solve pressing societal challenges. The Microsoft AI Solution Foundry Program is a five-week intensive program designed to help Microsoft partners innovate and develop cutting-edge AI solutions.

About Hexaware

Hexaware Technologies is a global technology and business process services company with a singular purpose of creating smiles through great people and technology. With 29,000 employees and 54 offices in 19 countries, Hexaware empowers enterprises worldwide to achieve digital transformation at scale and speed. They partner with organizations to build, transform, run, and optimize their technology and business processes.

Learn More about Hexaware

For more information about Hexaware and their services, please visit their website at https://www.hexaware.com.

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