Tetrao Wins BNP Paribas International Hackathon 2017
Tetrao is an artificial intelligence company aiming to automate processes that are currently done manually in order to help its clients save time and money! We chatted (in June) with Christian Gillot, founder and CEO of Tetrao, after being awarded at the International Hackathon organized by bank BNP Paribas in Luxembourg.
What is the purpose of Tetrao?
The purpose of Tetrao is to enable faster connections between businesses, which we are able to do thanks to our Robotic Cognitive Automation technology. It is an artificial intelligence that takes control of an Internet browser to do work. It is unique because it simulates the behavior of a human being to understand web pages and interact with them to complete a task.
What products/services do you offer?
We offer automation services for our clients who use online processes, typically performed manually and clearly have business needs that would benefit from automation of these processes. After an automation audit, we automate these processes quickly, offering a clear Return On Investment for our clients. We are also developing a product that should launch during the second half of 2017. It’s called Live Business Graph and it automatically aggregates all the information that companies publish about themselves online.
Who are your clients?
We have two very different client profiles. We work with startups such as All Square, TheBarCorner and PopWork. For them we collect, at scale, the information they need to develop their businesses. We also work with corporates in fintech, which have a culture of innovation and a big volume of processes that could not previously be automated. For instance, we work with BGL BNP Paribas, BNP Paribas Securities Services, PwC and Editus.
Do you have a business case to share with us?
Definitely. We work with an initiative of BGL BNP Paribas called MyFundMatch. It’s a social network that aims to change the relationship between asset managers and investors. For them, we developed a specialized version of our artificial intelligence for the funds industry. It knows how to go to an asset manager web site, download fund information and automatically structure this data to make sense out of it.
You participated in the last International Hackathon. What were your expectations?
Our intent was to collaborate with the bank experts to find a project that makes people’s lives easier. We brainstormed several ideas with the experts and decided on a great idea that we want to make a reality. So our expectation was to demonstrate the feasibility and the value of implementing the idea.
You won! What was your project about?
We worked on company bank account creation. It’s a lengthy, troublesome and complicated process that can take months. It’s a big pain point for customers at any bank. So, in collaboration with the experts of the bank, we created a company onboarding assistant that can reduce that process from several months to just three days, by providing a digital-only experience and leveraging our automation technology.
What are the next steps for Tetrao?
We are very much focused on doing what is necessary to integrate this solution and give it to users. To achieve this, we are starting a co-working phase with BGL BNP Paribas that will solve the legal, business and compliance issues. More generally, we have several projects with different customers going on and we will be profitable by the end of this year. Stay tuned!