OnCorps helps enterprises improve the performance of their existing business processes by augmenting them with digital decision guidance. By providing personalised, responsive, analytics-based recommendations to front-line decision makers, companies can unlock significant productivity and performance gains.
OnCorps is a customisable AI decision guidance platform supported by a high-end team of data and computer scientists. The OnCorps platform is primarily deployed to support back-office processes in global financial services companies and for pricing in multinational technology and consulting companies, such as EY and Dell. Using OnCorps technology, businesses have been able to grow their revenue by tens of millions of dollars and have been able to scale their businesses without having to scale their costs.
OnCorps solutions blend AI-based analytic recommendations from the existing data together with the application of behavioural science techniques to help guide decision-makers. As an example, when this approach was applied to pricing decisions in a global professional services firm, by using the OnCorps platform the company has been able to unlock an 18% gain in gross margin for the deals priced using OnCorps. This specific solution also won the company’s own CFO award for the most innovative system. There are over 1,000 users of the OnCorps pricing solution in this firm today.
In 2019, OnCorps was selected as the winner of the “Best Banking Infrastructure Software” by FinTech Breakthrough, an independent organization founded to recognize FinTech innovators, leaders, and visionaries from around the world. One example of their solutions in financial services is helping fund operation teams face their daily challenge to sift through data from fund administrators or other internal systems for quality and compliance purposes. OnCorps offers an advanced, highly configurable fund operations solution. The OnCorps platform automates data integration from each custodian, uses algorithms to score each transaction, and adapts approval workflows to the risk level of each event. Crucially, the system learns from the decision patterns of each analyst, building stronger algorithms over time. Leaders can elect to use manual policy settings until algorithms mature. With all investment and decision data consolidated in the platform, OnCorps can also provide audit trails, what-if scenario modelling, real-time analysis of process performance, and custodian benchmarking to leadership. Finally, they offer a business model that ensures rapid deployment and high-end support. Global clients using this solution today have reported an 80% reduction in labour time associated with these business processes while improving the performance of these processes.
OnCorps was founded by alumni from premier consultancies and research institutions in Boston, Massachusetts and Bristol, England. Bob Suh, founder and CEO, was formerly the Chief Technology Strategist of Accenture. Co-founders Dr. Laura Lafave and Dr. Peter Hallett, based in Bristol, also held positions at Accenture during their 20+ year careers in technology. The team, now at approximately 50 in total, also benefits from collaboration with scientific advisors from universities including Harvard, Yale and Oxford. OnCorps is a member of SetSquared Bristol and is active in supporting the local tech community.