Artificial Intelligence (AI)

Reengineering recruitment through artificial intelligence: Pandy AI Case

May 08, 2020

We find ourselves at the dawn of a peculiar time.

Even before the Corona crisis occurred, the financial sector was on the verge of many changes. As a relatively new concept in what used to be mostly face-to-face business, digitalization is taking over all the segments of the financial industry. Recruitment is no exception. It even headlines the list. With talent acquisition not being what it was only years ago, a new direction is needed and companies are already taking bold approaches in revolutionizing it, ours included.

After spending 25 years in the traditional recruitment business, we read the signs and decided to iterate on two things we were the best at:

  • Delivering the top-quality talent to our institutional partners.
  • Ensuring that all banking professionals we work with take the best possible step towards advancing their careers.

This iteration led us to transfer all our business activities into the digital domain. Our mother company, Pradov, has developed a new AI recruitment tool, called Pandy AI, whose main purpose is to reduce mismatches, increase diversity, as well as efficiency during the recruitment journey. Crafted through a series of machine learning algorithms, Pandy AI is a personal executive AI recruiter supporting professionals seeking new opportunities to connect directly to the decision makers of prestigious institutions in Global Private Banking, Asset Management, and Family Offices.

Our platform was designed and fine-tuned to satisfy everyone’s needs through separate interfaces.

From the talent perspective, Pandy AI is a match for all needs of a professional whether they are looking for an opportunity or not. Candidates get matched to the open propositions by their current work performance, experience, and achievements. These propositions are published by the world’s leading financial institutions. All members have the option of anonymously browsing the opportunities, or actively pursue their next engagement by expressing the interest and allowing decision makers to identify them and connect.

Pandy AI members not looking for new challenges get to constitute a secure place that builds and stores their complete professional accomplishments in an easily digestible and presentable way. This experience is further empowered by comprehensive privacy protocols, ensuring that data provided is never abused by recruiters, which is often a case with professional networks, such as LinkedIn. Ultimately, members can look at Pandy AI as a personal branding tool catering to their banking legacy.

Decision makers represent institutions inside Pandy AI. They create propositions and lead the recruitment journeys of all talent applying for those propositions. Just like talent, DMs also have an option to create public and private propositions. The first ones are visible to all the matching talent under their Propositions page, while for the private propositions, DMs are preselecting the talent themselves and deciding who to approach. Besides the recruitment purpose, Pandy AI allows institutions to enhance the user awareness of their brand equity.

All Pandy AI features have been built with a strong focus on privacy and data protection. The system will never share talent information. All the data is stored on certified and secure servers and can be edited or removed directly from member accounts at any point.

Innovative solutions dictate the evolution of the recruitment industry. We believe that Pandy AI offers a valuable solution and a perfect addition to both institutions looking to improve their long-term recruitment strategies, and talent seeking safety and career advancements during the turmoil times and beyond. According to our estimates, Pandy AI reduces recruitment costs by 90%, hiring time by 50%, and HR workload by 40% when compared to other currently available solutions in the market. We’ve built a class-leading product that reduces mismatch and bias, increases efficiency and diversity as well as decreasing cost to hire.