Finance providers should embrace the potential for intelligent software to transform their business operations by automating manual tasks and allowing employees to focus more on customer service excellence.
Through an iterative process, suppliers can work with their customers to quickly develop digitalised services that could transform the way enquiries are managed, according to Morgan Owen, innovation consultant at White Clarke Group.
As part of an innovation lab experiment at White Clarke Group, Owen looked at how a basic enquiry, such as settlement quote, could be answered automatically utilizing natural language processing and artificial intelligence, leaving employees in a finance company to tackle more complex customer enquiries.
Through these experiments and testing of ideas, he was able to develop an AI powered chatbot that could answer relatively complex enquiries and decide how best to respond to customers.
He said: “We found that this environment of small-scale, rapid iteration has really let us see technology in a new light; to explore and engage with it and make it actually useful. We can make it empower users to make better business decisions and give customers more options.”
A full briefing on how software and AI can transform service levels is available in this exclusive three-minute video, provided courtesy of global equipment and auto finance software company White Clarke Group.