1. Webio's New UI: Cormac mentions the launch of their new user interface (UI) focused on AI strategy and custom collections language models, which has received positive feedback from users. They plan to provide more details on the platform's capabilities.
2. Mortgage Defaults and Missed Payments: They discuss recent data from the Bank of England, indicating a surge in mortgage defaults and missed payments on credit cards and loans. The cost of living crisis and rising bills contribute to this trend.
3. Insurance Premium Increases: Both Paul and Cormac share their experiences with rising insurance premiums, emphasising the importance of haggling with insurance providers for better rates.
4. Council Tax and Local Councils: The hosts highlight the challenges faced by local councils due to increased non-payment of council tax, with some councils facing insolvency. Webio is exploring ways to help councils with their collections challenges.
5. Fintech Growth: Paul mentions Wise's 40% income increase and discusses the fintech platform Kashable, which offers credit to employees through payroll systems. They discuss the potential for embedded finance solutions within enterprises.
6. Digital Banking Trends: Lloyds Bank reports a shift towards digital channels for banking, with a focus on mobile banking and in-app chats. They emphasize the importance of AI-powered chat solutions for improving customer service.
7. Global Fintech Trends: Paul mentions a report from the University of Cambridge on the future of global fintech. The report highlights the significance of AI, embedded finance, and open banking in the fintech sector. It also discusses the growth of fintech services reaching underserved groups and the need for regulatory innovation.
8. Customer Service Trends: The hosts discuss a study on customer service trends, highlighting the increased expectations of customers regarding AI-powered chatbots. The report spotlights the importance of AI in automating tasks and improving agent effectiveness.
9. AI Implementation in Customer Service: Paul predicts that 2024 will see a shift from hype to actual implementation of AI in customer service. He underlines the importance of meeting customers' high expectations and using AI to enhance customer service.
Overall, the conversation covers various aspects of the fintech and customer service industries, with a focus on AI, digital trends, and customer expectations.
If you need to improve your customer engagement, talk to us and we'll show you how AI automation via digital messaging apps works.
You will love the Webio experience.