Vymo Partners with Microsoft to Help Sales Teams Leverage AI

Giving sales professionals the ability to leverage AI to provide better service is the goal behind the new partnership between Vymo and Microsoft. Specifically, the two will work to grow the market for Vymo’s intelligent personal assistant for sales, bringing predictive and actionable insights to customer relationship management (CRM).

“We are helping organizations move to a more proactive CRM experience powered by mobility and intelligence,” Vymo co-founder and CEO Yamini Bhat explained. ” With Vymo, salespeople can operate more effectively in a deskless environment and that has translated into a significant revenue impact for businesses. We look forward to working closely with Microsoft as we scale.”

Vymo’s intelligent personal assistant delivers intelligent and actionable insights to sales professionals. The solution helps boost productivity by more than 30% by detecting the sales representative’s actions, and anticipating what the rep should do next. The technology learns from the most effective sales reps in the network and helps users achieve the best possible outcomes for customers. Sales productivity metrics from conversion percentage to turnaround time to activity per opportunity are among the KPIs Vymo can help sales teams improve.

The collaboration between Vymo and Microsoft builds on the existing relationship between the two companies. Vymo is a 2015 graduate of Microsoft’s Winter Accelerator, and won the Microsoft’s AI for All award in 2018. Vymo is already working with more than 85,000 users in verticals ranging from banking and financial services to insurance and pharmaceuticals, powering machine learning and AI-based tools backed by Microsoft Azure.

In Vymo’s statement announcing the news, Microsoft General Manager for Partner Ecosystem Rajiv Sodhi said the partnership represented “Microsoft’s commitment to enabling its partner ecosystem to leverage AI capabilities to be able to build powerful solutions and tap growth.” Satya Nadella, Microsoft CEO, added that the Vymo “was fundamentally changing both how retailers work and (how) financial services work.”

Headquartered in Bangalore, India, and founded in 2013, Vymo demonstrated its technology at FinovateAsia 2018. The company began this year with news that it would be a part of Bangkok Bank’s 12-week accelerator program, and announced that Zurich Topas Life, a division of Zurich Group, had selected Vymo’s solution to boost sales productivity.

In March, Vymo announced that it was going live in Vietnam courtesy of a partnership with local consumer finance firm, FE CREDIT. That month the company also announced that it won the FICCI (Federation of Indian Chambers of Commerce) Award for Innovation in Artificial Intelligence and Data Analytics. Vymo also reported that its technology was available on the Salesforce AppExchange.

Vymo has raised $5 million in funding. The company includes Sequoia Capital India, who led the company’s Series A round in 2016, among its investors.

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Finovate Global: Vymo Launches in Vietnam; ZagTrader Helps FIs Go Crypto

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Middle East and Northern Africa

  • ZagTrader and BeQuant team Up to help institutions go crypto.
  • Temenos partners with Saudi Arabia’s Al Rajhi bank.
  • Emirates NBD to work with Intellect Design Arena for a planned digital transformation of its transaction banking platform.

Central and South Asia

  • BankBazaar announces partnership with Ujjivan Small Finance Bank for Personal Loans.
  • Victoria Commercial Bank Kenya goes live with corporate banking technology powered by i-exceed’s Appzillon.
  • Aurora interviews Bernhard Klemen, international partner with venture capital fund Sarmayacar on opportunities for venture financing for Pakistani fintech startups.

Latin America and the Caribbean

  • German challenger bank N26 announces plans to expand to Brazil.
  • BBVA Colombia looks at its role in helping promote fintech innovation in Peru. In Spanish.
  • FXCompared profiles Argentina-based PayPal rival, MercadoLibre.

Asia-Pacific

  • Leading Vietnam-based consumer finance firm, FE Credit, chooses Vymo’s AI-powered personal sales assistant.
  • Bambu and CredoLab earn spots on Fintech News Singapore’s 29 Hottest Fintechs in Singapore 2019 roster.
  • Accenture and nCino partner to better serve FIs in the Asia-Pacific and EMEA regions.

Sub-Saharan Africa

  • Tymebank goes live with core banking tech from Mambu.
  • Nigerian digital banking solution provider TeamApt raises $5.5 million in funding.
  • South Africa’s Standard Bank to launch private cloud-based distributed ledger platform for payments and settlement.

Central and Eastern Europe

  • Russia’s Tinkoff Bank joins the country’s Faster Payments System.
  • Ukraine finishes its pilot project, begun in December, in support of its national digital currency, the e-hryvnia.
  • UK-based Rimilia and Association of Credit for Central and Eastern Europe to promote adoption of AI-based technologies to automate AR in the CEE region.

Top image designed by Freepik

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Vymo Joins Bangkok Bank Accelerator Program

Vymo, a personal assistant for sales professionals, will join Bangkok Bank’s accelerator program, Bangkok Bank Innohub. The 12-week program will provide startups with mentorship and strategic guidance from financial professionals. The process is designed to guide companies toward securing a proof of concept with Bangkok Bank and making a pitch for investment by the program’s end.

“We are excited to be chosen for the Bangkok Bank Innohub program. This is a great opportunity for us to work closely with various stakeholders of one of the largest banks in the region and will enable us to innovate at scale,” Vymo CEO Yamini Bhat said.

Vymo’s technology helps boost the productivity of sales teams, increasing conversion percentages, turnaround time, and sales activity per opportunity. The platform detects the sales representative’s actions automatically, capturing contextual data from phone calls, meetings, emails, and messages.

Vymo then generates actionable insights from the data, letting sales reps know who on their client lists to engage and how, keeping sales managers informed of sales rep activity and progress, and informing sales directors on how best to allocate resources to achieve the best possible sales outcomes.

Above: Vymo Head of APAC Anurag Srivastava demonstrating the company’s platform at FinovateAsia 2018.

The mobile-first, AI-based app is adaptive, learning from the performance of the best sales reps in the organization. Deployed with more than 75,000 sales professionals and achieving a daily average usage of 85%, Vymo has provided companies with a positive revenue impact of 3% to 10%.

One of the largest commercial banks in Thailand, Bangkok Bank has more than 1,165 branches in its network, including 32 international branches in 15 markets in Malaysia and China. The bank’s accelerator program, Bangkok Bank Innohub, operates in collaboration with international venture firm Nest and Bualuang Ventures.

Founded in 2013 and headquartered in Bangalore, India, Vymo demonstrated its personal assistant for sales professionals at FinovateAsia 2018. Last spring, the company announced an expansion into the APAC region with the hiring of Anurag Srivastava, who was previously Head of Finance for Kofax. More recently, Vymo was shortlisted at the Zurich Innovation Championship and won the Best Fintech Startup award at Plug and Play, Singapore.

With more than 35 deployments at global corporations such as Allianz, Generali, and HDFC Bank, Vymo has raised $5 million in funding. The company’s investors include Sequoia Capital India and Microsoft Accelerator Bangalore.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.