Banking Innovation of the Month: Jobs Intelligence Maestro by DBS
Efma-Accenture’s Banking Innovation of the Month award for February goes to DBS for its virtual bank recruiter Jobs Intelligence Maestro, an artificial intelligence-powered HR solution for enterprise businesses.
Jobs Intelligence Maestro (JIM) was developed to address time-consuming and repetitive tasks for DBS recruiters. The solution has enabled a reduction of 40 man-hours per month, allowing recruiters to spend their time conducting interviews with candidates to understand their competence for positions.
In 2018, DBS planned to hire 40 percent more wealth planning managers to support its rapidly growing wealth management business, but DBS recruiters were not able to hire wealth planning managers efficiently. Recruiters spend a third of their time carrying out repetitive tasks such as screening resumes, making calls to shortlist candidates, and answering questions over emails. Catering to the busy candidates also meant that recruiters often need to work extra hours. For job applicants, squirreling away time to head down for physical interviews during the work day was also a big problem.
JIM was custom-built to meet the needs of DBS recruiters and applicants. It is powered by artificial intelligence and over time, will learn to make better assessments in screening candidates. Over the course of a year, DBS and startup Impress.AI experimented with different iterations to ensure a smooth application journey for candidates.
JIM shortlists suitable candidates, which are then reviewed and selected by recruiters for a face-to-face interview. It has helped DBS recruiters to review resumes, collect applicants’ responses for pre-screening questions and conduct psychometric profiling assessments on candidates. By automating the pre-screening process, JIM helps to save some 40 man-hours a month, enabling recruiters to spend more time sourcing candidates, interviewing applicants, focusing on talent advisory and upskilling themselves.
JIM has also created a better experience for job applicants, providing a faster, more streamlined process, with real-time interaction available 24/7. The chatbot can also answer any job-related questions from the candidate during the application process.
JIM will progressively be made available in the bank’s core markets – Hong Kong, China, Taiwan, Indonesia and India – for wealth planning manager roles. The virtual recruiter will also be ‘trained’ to screen candidates for other high-volume roles such as the Management Associate and Graduate Associate programs, which typically see more than 7,000 candidates competing for 20 roles.
JIM will be automatically selected as a nominee for the Efma-Accenture Customer Insight & Growth Awards 2019. Submit your innovations on the Efma Customer Insight & Growth portal until 5 March for the March Innovation of the Month. Participation is free of charge and open to all banking institutions. Innovation of the Month is reserved for Efma members.