Using AI and Automation to Make Financial Conversations Easy

Many companies are now talking about digital customer journeys and transitioning to digital, but in contact centres, this can sometimes mean losing the intimacy of phone calls by jumping all the way across to self-service.
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➡But there is a big space in the middle that is often overlooked where you can have both the personal contact of a phone call and the efficiency of self-service, and that gap is filled by conversational AI, and more specifically, AI blended with human agents.
➡Today, people are becoming digital natives. We spend an enormous amount of time on our mobile devices (the stats say that 100 billion WhatsApp messages a day are sent, which is on average 50 WhatsApps per day per user). So it makes sense to use these digital messaging channels to contact customers.
➡Customers often do not like talking about debt problems with a person and prefer the less embarrassing option of communicating with an AI in a messaging app - it makes it easier for them to engage and the results are therefore better.
➡And these AI bots aren't the curt bots of old that turned people off, they are now conversational and truly helpful. If you get a customer into a conversation, you can lead them to discuss their options. And the more engagement that you have, the more people you can actually help.
➡So ultimately conversational AI makes difficult conversations easy in the financial services world of credit, collections and payments.