Join us for a live demo of the Operations Center on December 6th at 11:00 AM ET  – Register Here


Virtual Agent boosts currency trading speed by 40x

Share this 

Share on facebook
Share on twitter
Share on linkedin

The era of waiting for a decision from head office, or leaving customers hanging while approvals were sought is incompatible with the digital age. Instead, virtual agents can help make decisions instantly and speed up business processes while reducing costs.

Wysdom worked with a top 15 North American bank with over 40,000 employees. A portion of their services include helping business customers perform foreign exchange (FX) over the phone or in branch. However, the execution of the trade ultimately takes place over the phone, leaving customers waiting for rates and confirmation of a trade. To improve the turnaround time and experience, the company approached Wysdom for a solution.

The challenge

The bank originally hosted a virtual agent on Facebook that would show the real-time FX rate between a customer’s entered currencies. However, customers would have to call, go online or visit a branch to actually perform the trade. 

That interaction would take up to 20 minutes, sometimes longer, creating a poor customer experience and delays for business clients, some of whom might be waiting in a branch for some time. 

To remedy the problem, Wysdom was engaged to deliver FX trades that could be automated through instant messaging, design a conversational experience that did not feel robotic, build a service which would be available to all banking centres and back-office teams and offer the ability to match competitive rates and book trades via messaging.

To deliver a solution, the project goals included: 

The approach

The bank already used Microsoft Teams, so this was selected as the messaging platform to deliver the FX Virtual Agent – avoiding introducing another new software platform for employees to learn. This would aid in adoption as every employee already had access to it. 

The technical side of the agent was created through a joint effort between Wysdom and the bank’s technical teams using the bank’s internal pricing software to integrate with the agent, enabling price negotiations and execution of trades.

On top of the mechanics, Wysdom created a conversational Virtual Agent to support users, helping manage conversations and accepting client information. To reduce risk, the Virtual Agent can identify errors, validate information,  and facilitate negotiating rates, allowing users to correct information if required. 

The FX Virtual Agent can understand all currencies, branch transit, dates, client names, transaction types, and it can negotiate prices with customers directly.

Additionally, the bank wanted a method to monitor all conversations, and the ability to block anything they deemed out of the ordinary from proceeding. This is not a feature available in Microsoft Teams, so Wysdom created a new feature specific to their Virtual Agent, allowing managers to view chats in real-time or receive alerts if chats are taking too long, with an override button to block a transaction from happening.  

Impact and results

When the new Virtual Agent went live, fully integrated with Microsoft Teams, the FX Virtual Agent was deployed across their branches, with employees able to easily book FX currency trades using natural language chat.

  1. It helped immediately reduce the time taken to execute trades from 20 minutes or longer to under 30 seconds. 
  1. Adoption of the tool was over  95% and nearly all of them become repeat users of the Virtual Agent. 
  1. The client experience was improved substantially delivering confirmation of a foreign exchange almost immediately rather than up to 30 minutes later.

In the longer term, the bank is rolling the tool out to every branch by region while branch executives are asking for early access as they hear about how easy and impactful FX Virtual Agent is. The bank is also looking at other use cases once the full rollout is complete, including supporting other payments and student accounts.

Looking to launch an enterprise-grade Virtual Agent quickly?

We can get you up and running with a Virtual Agent in weeks, on the platform of your choice. You’ll see immediate improvements to customer service, employee satisfaction and the virtual bottom line. That’s real Wysdom.

Get in touch today!

We use cookies to ensure that we give you the best experience on our website. By clicking “I Accept” or if you continue to this site, we will assume that you consent to the use of cookies unless you have disabled them.

Data Scientist

As a Data Scientist, your day-to-day will involve writing queries, building dashboards, and preparing analytical reports about product performance for our clients and the Wysdom.AI team.  You will work with SQL, Tableau, and Python and ML Frameworks/libraries (among other tools) to create stunning visuals showing how Wysdom.AI is making their customers’ experience even better.

Implementation Engineer

As an Implementation Engineer you will be responsible for the solution integration of an enterprise grade conversational AI experience from a technical perspective. You will work closely with the lead solutions architect and be the technical face of the implementation team and lead the customer through the entire implementation cycle. You will work with one of the most diverse teams of linguists, data scientists, and innovators to deliver the best AI enabled customer experience.

Solution Architect

As a Solutions Architect within the Client Services team, you act as trusted advisor, responsible for the technical requirements and end to end solutions integration of Wysdom cognitive services within the client’s environment.  You will work with one of the most diverse teams of linguists, data scientists, and innovators to deliver the best AI enabled customer experience.

Cognitive Data Specialist

As a Cognitive Data Specialist, you will be responsible for the performance of the AI and quality of the corpus and will focus primarily on the VA training.  You will work with the client as required to ensure corpus is performing in an optimal manner.

Conversational Experience Designer

As a Conversational Experience Designer, you will be responsible for the designs of the overall customer experience, including the end-to-end dialog flows & journeys of the solution ensuring  design leverages  UxD best practices for optimal customer experience.

Conversational AI Specialist

As a Conversational AI Optimization Specialist, your responsibility will be to help drive the success of our solution for our clients. This involves building conversation flows, performing AI training, and partnering with clients to enhance their deployments.

Conversational AI Lead

As a Conversational AI Lead, you will be responsible for leading all Conversational AI program activities.  You will work with all team members to ensure deliverables are completed on time, with high quality and exceeds client expectations and goals.

Program Director

Responsible for the overall success for the client, including the end-to-end delivery and optimization of the solution, you will manage the sales process from pillar to post, including technical and commercial proposals, pipeline management, sales forecasting, and contractual documentation.

David Trotter, Wysdom

David Trotter

SVP, Sales & Marketing

David has 30 years of global sales leadership experience as a collaborative leader who believes in a strong team concept within sales and marketing organizations. David has spent many years working with growth companies and enjoys being face to face with customers and partners to create solutions that have a lasting effect on the customer’s business environment. 

Prior to joining Wysdom, David was the Vice President, Sales at Scalepad, and previously spent 11 years as Vice President for Latin America and Asia Pacific for Absolute Software. He also held senior sales management positions at GE Capital and Clevest.  

Michel Benitah

VP, Optimization & Delivery

Michel has 20 years of experience in leading the successful delivery of Conversational AI and Natural Language Customer Care solutions to some of the largest financial, telco, healthcare, utilities, and retail enterprises throughout North America. 


Prior to joining Wysdom, Michel spent 20 years at Nuance Communications, holding senior management and leadership positions within the enterprise division, most recently as director of the Toronto office and professional services team.

Frederic Lam

SVP, Sales

Fred brings in 25 years of international experience in sales and business development across North America, the Caribbean, Asia-Pacific, Europe, and the Middle-East.


Prior to Wysdom.AI, he held sales leadership positions at Oracle, Redknee, and Movius/Glenayre, successfully growing revenues in both large and small organizations. Fred has also been involved in the start-up community in the earlier stages of his career as an Investment Manager with SP Capital and was an alternate director on a few investee companies.

Karen Chan

Chief Engineering Officer, Co-Founder

With 20 years of experience in software and mobile, Karen has held senior technical roles at 5 startups, including Wysdom.AI, Clickfree, Mobile Diagnostix (HP), Teamatic, and Virtualthere.

Karthik Balakrishnan

Chief Technology Officer

Karthik has over a decade of hands-on, proven global expertise in emerging technologies and implementing intricate platforms and solutions for telecommunications and enterprise during his time at Amdocs, with senior positions in their India, Cyprus, America, and Canada offices.

Nitin Singhal

Chief Operating Officer

Nitin has over 20 years of success in global executions of business technology, driving operational efficiency and digital scalability for some of the world’s largest enterprise clients. 


Nitin spent 16 years at Redknee holding executive positions in Research and Development, Customer Operations, Partner Alliances, and most recently as COO.

Jeff Brunet​

President, Co-Founder

Jeff has more than 20 years of experience in the startup world, founding and growing 4 software companies: AracNet, Mobile Diagnostix (HP), ClickFree, and Wysdom.AI. 


His in-depth understanding of software development and the challenges in making new technologies successful in the startup world prove invaluable as he serves on the boards of XMG, SurfEasy (Opera), Locationary (Apple), Groupie, and as an advisor to Pushlife (Google), LogMeIn (IPO) and HP. 


Jeff holds 23 issued patents in the wireless and consumer electronics spaces and is the lead inventor on 30+ pending patents.

Ian Collins​

CEO, Co-Founder

Ian has founded and grown 6 technology companies over the past 20 years, primarily in the enterprise software space including Wyrex, Mobile Diagnostix (HP), Clickfree, and most recently Wysdom.AI. 


Ian invests, mentors, and sits on the boards of several startups in the Toronto area.