Webio, a leader in Conversational AI and customer engagement orchestration in the credit, collections, and payments industry has launched Propensity Studio, the company’s latest digital debt collection offering. Propensity Studio leverages Webio’s credit and collections expertise and conversational AI platform to enhance how businesses engage with their customers by predicting individual business outcomes throughout their messaging conversations. Designing fully personalised journeys for all customer types, delivering the right message and level of agent resource at the right time.
Customers have moved to chat and messaging and companies have had to follow suit shifting their customer engagement to digital channels like SMS, Webchat, WhatsApp, RCS, Messenger, etc. Customers now have an expectation of instant interaction with their companies, whether that is checking on a delivery or discussing their finances.
However, it is a challenge engaging with customers and managing the nuances of each individual customer’s personal circumstances especially for digital conversations at scale. Having the right conversation at the right time in a fair, empathetic, and compliant manner is a need that Webio team are addressing with the development of this AI credit and collections solution. Working hand in hand with clients to develop, this custom-built AI engine is transforming how credit and collections teams will interact with customers.
The first of its kind in credit and collections, Propensity Studio is designed to optimise customer engagement using AI and automation and enable companies to manage digital debt collection conversations like never before.
Webio’s AI Propensity Studio analyses the words, phrases and language of conversations enabling companies to better understand the needs and requirements of their customers in real-time. For example, customers experiencing personal challenges in their lives can be identified more easily and thus get the support they need.
Propensity Studio enables collection organisations and teams to move beyond the traditional customer interaction by:
Commenting on the launch, Webio CEO Cormac O’Neill says, "Credit and Collections are one of the most challenging customer service environments in the world. It's an environment whereby having the right conversation can make such a difference in people's lives. In developing our conversational AI, we have put the needs of indebted customers and our clients front and centre. In so doing our Propensity Studio will not only make a substantial difference to the operational efficiency of businesses but also reshape how customers and companies relate to one another in a new powerful way.”
There has been a lot of hype surrounding AI recently but the reality is that delivering effective AI that makes a meaningful difference is a challenge. I'm thrilled that Team Webio has met this challenge and I am excited to see the impact that Propensity Studio will have as we continue on our mission of rebalancing the credit and collections eco-system.”