Insights and Inspiration

THOUGHT BOX

forbearance and fintech

UK Economic Overview, Chatbots for Forbearance Strategies, Banking Growth and New Tech

Paul Sweeney looks deeper into the UK economy, FinTech and using messaging tools for forbearance and customer service, banking growth and emerging technologies and payment trends. Paul touches on the competitive landscape influenced by token technology, highlighting its strategic implications.

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insurance and BNPL

Insurance Companies' Duty of Care, Barclays & Tesco Bank Merger, Fintech and AI News

The hosts discuss concerns over brokers' commission practices and the FCA's actions on GAP insurance for fairness to customers. They also cover the Barclays and Tesco Bank merger, trends in Buy Now, Pay Later services, and the challenges of digital and data sovereignty, including AI's role in open banking. The hosts stress the importance of transparency and strategic foresight in financial services, amidst discussions on customer management and the future of digital technologies.

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debt collection numbers

The Job of GenAI, Deepfakes & Cheapfakes, and Mortgage Arrears and DDRs

In this episode, Paul Sweeney (CSO) and Cormac O'Neill (CEO) discuss rising mortgage arrears and financial strain, contrasting with early optimism. They cover Gartner's views on AI in customer service, the threat of deepfakes, and advocate for AI-human collaboration, stressing the balance between innovation and addressing consumer financial pressures.

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Conversational AI in Debt Collection

Fireside Chat: Conversational AI in Debt Collection in 2024

Following a highly engaging webinar on "Conversational AI in Debt Collection; What You Need to Know in 2024" that sparked many questions, the webinar hosts - Mark Opperman (Chief Revenue & Marketing Officer), Graham Bragg (Business Development Director) and Enzo Viscito (Business Development Director) - decided to record another session where they unpacked the queries in more detail.

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debt collection numbers

Debt by the Numbers, The Digital Divide and the Poverty Premium

Hosts, Paul Sweeney (CSO) and Cormac O'Neill (CEO), highlight the numbers around debt in various sectors, the premium paid by the low-income earners, industry trends and technological disruptions.  

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digital banking, Ai chatbots in customer service

Councils in Crisis, and a Leap Forward in Fintech, Digital Banking & AI Chatbots

Paul Sweeney (CSO) and Cormac O'Neill (CEO) look deeper into the rise in debt defaults, UK councils in crisis, fintech's leap forward and customer service industries, with a focus on AI, digital trends, and customer expectations. 

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AI in CPaaS

Deep Fakes are Easy to Make: Should we be Worried?

Explore deep fakes with Paul Sweeney (Webio CSO) and Adrian Weckler (Irish Independent): their rise in Ireland, advancing technology, personal experiments, and potential dangers.

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GenAI in Banking, X's Payment Capability, Revolut's US lawsuit

Challenges of GenAI in Banking, Latest on X, Revolut Lawsuit, and Economic Updates

Hosts Paul Sweeney (CSO) and Cormac O'Neill (CEO) unpack the latest economic trends, generative AI in banking and the latest in X's payment capabilities.

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Mortgage Trends, AI Regulations, and Poverty Drivers

December Reflections and Economic and AI Trends for 2024

Paul Sweeney (CSO) and Cormac O'Neill (CEO) reflect on their December breaks and look ahead to what lies ahead in 2024 in the economy and AI tech.

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AI Ethics and Finance

Navigating the Data Revolution: Insights from Experian's Head of Data Innovation

Marilena Karanika of Experian talks to Paul Sweeney (Webio) and Dan Blagojevic (Optima) all things data and the importance of leveraging data for better decision-making, particularly in the financial services sector. They also cover using data intelligently in the context of the cost of living crisis.

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Mortgage Trends, AI Regulations, and Poverty Drivers

Mortgage Trends, AI Regulations, and Poverty Drivers

In this episode, Paul Sweeney and Delia Jones discuss the implications of the decrease in mortgage lending and a rise in house prices, AI legislation, and the Two Nations report on poverty in the UK.

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Consumer Debt

Rising Debt Levels and The Future Of Payments Report

In this episode, Paul Sweeney and Cormac O'Neill discuss the challenges of rising debt for households this winter, fintech news and The Future of Payments report.

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AI in CPaaS

TADSummit Innovators: AI's Ethics & Transformative Potential in CPaaS

In this inspiring discussion, Paul Sweeney, highlights how Webio is transforming debt conversations for better outcomes by prioritising privacy and avoiding reliance on the tech giants. The conversation explores conversation intelligence, ethics, and the long-term impact of AI on CPaaS.

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AI in debt collection

AI Awards Interview: How Webio's Conversational AI Delivers Success

In the run up to the AI Awards Ireland, Chief Strategy Officer, Paul Sweeney, spoke to Mark Kelly about how Webio's conversational AI helps companies engage with their customers about debt and finances with both empathy and efficiency.

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Developments in the Credit Industry, Reports and AI Trends in Customer Engagement

Developments in the Credit Industry, Reports and AI Trends in Customer Engagement

This week, Paul Sweeney (Webio CSO) looks at recent developments in the credit industry, inflation news, an AI-first tax solution, reports, and AI trends in customer engagement.

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Worrying Economic Trends, EU's Digital Identity Mandate & Game Changing AI

Worrying Economic Trends, EU's Digital Identity Mandate & Game Changing AI

The hosts discuss the UK economy's lack of growth, BNPL, FinTech, and OpenAI's recent updates, including a more sophisticated AI model and customisable digital assistants.

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Customer Engagement Software

Why Customer Engagement Software Works for Debt Collection

It can be challenging to connect with customers, especially if you work in credit and collections. But over the past few years we have seen a sea change. Customers who do not want to be contacted are more likely to respond if they don't have to have a voice-to-voice conversation with a debt collections agent. So, what has changed?

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conversational AI messaging for debt collection

Conversational AI: The Missing Link for Self-Service Portals

Conversational AI provides a unique solution that delivers customer intimacy and operational efficiency all rolled into one, making it perfect for customer engagement.

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Data Security and Privacy in AI-Driven Debt Collection Software

Safeguarding Data in AI-Driven Debt Collection Software

When using conversational AI for debt collection, data security and compliance is a core concern. There are best practise strategies for protecting sensitive information and for adhering to regulations, while building trust between businesses and their customers through responsible data handling.

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Call Centre Software for Customer Engagement

Call Centre Software for Customer Engagement

Discover how call centre software is changing customer service and engagement. This innovative technology integrates AI, automation, and personalised communication that sparks a leap forward in customer relations, offering smarter, faster, and more effective solutions.

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AI for contact centres

AI Powered Debt Collection for Superior Customer Engagement

Conversational AI and automation have undeniably changed the way businesses engage with their customers, bringing huge gains in efficiency, cost-savings and customer satisfaction. Let's have a look at how this tech works. 

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AI user interface in contact centres

Why Contact Centre Agents Welcome AI and Automation

The job of a contact centre agent is both demanding and indispensable in customer engagement. In an environment where empathy and performance are equally important, they work under great stress. But agents working with conversational AI chatbots find their role less daunting and more productive.

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AI user experience and interface design

User Experience with AI is Determined by the UI Design: A Chat with Webio’s Product Design Team

We recently spoke with Ratomir Jovanovic (Head of Product Operations) and Jason Nelligan (Software Engineer), about Webio's latest UI revamp, which revealed a thoughtful blend of innovation, user-centric design, and forward-thinking features.

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AI chatbots in call center

Using AI in Call Centres for Debt Collection: Why Businesses Welcome It

We are now living in a digital world and adopting a digital approach to debt collection and customer engagement is fast becoming the norm. Contact centres are now quickly evolving towards digitalisation, automation and AI.

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debt collection automation and AI

Automation and AI in Debt Collection: Understanding the Difference and Their Impact on Customer Conversations

Understand the distinction between Automation and AI in debt collection and their roles in enhancing customer interactions. AI advancements are also influencing the function of human agents, with a focus on AI as a co-pilot.

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AI and data

AI, Data and Consumer Duty: Shaping Financial Services

Explore data and AI's major challenges, such as fairness, transparency, Consumer Duty regulations, and the growing role of large language models and data analysis.

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poverty in uk

Unveiling the State of Poverty in the UK and Its Implications for Credit and Collections Professionals

Paul Sweeney, Webio’s CSO, looks at the key points of a report by The Centre for Social Justice about UK poverty, and the role of conversational AI interaction in addressing poverty-related challenges.

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Ai for good in credit and collections

Using AI for Good in Credit and Collections

Conversational AI in customer engagement can be used ethically for helping people escape the cycle of debt and its repercussions.

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Using AI to Transform Customer Experience in Credit & Collections

Using AI to Transform Customer Experience in Credit & Collections

Well-designed AI chatbots can elevate customer experience by successfully and quickly resolving customer queries and transactions.

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Customer Conversations with Messaging and AI

Customer Conversations: Messaging and AI have Come Up Trumps

Something important is happening in the world of customer communication and it's all about digital messaging and conversational AI. But a “mobile moat” surrounds your customer and there is only one way across it. You have to be invited.

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AI in Finance and Collections Ethics and Trends

AI in Finance and Collections: Ethics and Trends

AI in customer engagement is about more than just query resolution, it is also about ethics, sound data and creating business value.

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AI in Finance and Collections

AI in Finance and Collections: Opportunities and Sticking Points

Integrating AI across the finance supply chain is a complex and intricate task. The fintech space is constantly evolving and a holistic approach is needed that addresses perceptions, model congruency, emotional intelligence, and organisational attitudes. 

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AI Shouldn’t Compete With Workers—It Should Supercharge Them

Clive Thompson for WIRED, exploring Erik Brynjolfsson's argument that the Turing Test and copying humans was the wrong goal, it should have been about..

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AI and ML in Debt Recovery Processes

Financial institutions use artificial intelligence (AI) and machine learning (ML) models to reshape debt recovery. You might find it challenging to believe AI and ML models could reshape the financial industry. Some people thought the same thing about the internet. Many creditors are already adopting these technologies, so it’s only a matter of time before they permanently transform ordinary debt recovery processes.

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How Conversational AI in Debt Collection is Working Today

How Conversational AI in Debt Collection is Working Today

A practical look at AI and Automation in day-to-day debt collection operations. The reality and the results both for the business and agents.

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Conversational AI in Debt Collection What You Need to Know in 2024

Conversational AI in Debt Collection; What You Need to Know in 2024

2023 marked a pivotal year in the evolution of AI, with ChatGPT emerging as a ground breaking example, reshaping our perceptions and applications of AI in everyday life. It rapidly moved into the mainstream with many businesses looking to seize the opportunity to benefit from all AI had to offer, especially in the area of customer engagement. And debt collection is no exception.

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How WhatsApp and SMS Complement Each Other in Digital Debt Collection

How WhatsApp and SMS Complement Each Other in Digital Debt Collection

Whether you are part of an experienced collections team, looking for innovative approaches or a new to digital engagement, this webinar will arm you with practical knowledge and tools to leverage WhatsApp and SMS in your collection's strategy. As the effectiveness of traditional debt collection approaches falls behind those of digital channels, and as digital continues to deliver better conversation outcomes and operational efficiencies, focusing on one channel over the other can result in missed opportunities. 

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Automation and AI in Debt Collection: What's the Difference?

There is a needs to understand exactly how businesses can harness automation and AI effectively: when should automation be used, when should AI be brought into the mix, and what should be the balance between the two? In this 45-minute, webinar we will bridge that gap, offering clear insight into the individual and combined powers of automation and AI in managing debt collection customer conversations. 

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Custom Language Model for Credit and Collections

Why Webio Built a Custom Language Model for Credit and Collections

Large language models are brilliant at powering generative AI, but they are not accurate or secure enough for many enterprise use cases, such as in finance matters. That's when you need custom language models. Webio has built a language model fine-tuned specifically for the credit and collections industry.

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AI in contact centres

AI Improves Customer Experience and Contact Centre Efficiency

Customers and employees can benefit from the use of AI in contact centres. Businesses can use AI to provide customer self-service options and help make agents more productive.

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Vulnerability: How AI is Driving Better Customer Outcomes in Debt Collection Conversations

Identifying and managing vulnerable customers, especially in the age of Consumer Duty, is a priority.  But can this technology be used in Collections and help with Vulnerability?   The answer is yes, it's happening already.  

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conversational AI and AI chatbots

Conversational AI Should Aim to Feel More Human

In AI, the key isn't just replicating human features but understanding how human interactions work and the future lies in the nuanced, natural interactions where technology enables a genuine and empathic connection.

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AI in debt collection and contact centres

How AI is Changing Debt Collection and Vulnerability

Mark Oppermann, Chief Revenue & Marketing Officer at Webio, gave a presentation at the Collections & Vulnerability summit in Manchester about AI in collections and how it helps with customer engagement and vulnerability detection.

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How Conversational AI is Transforming Contact Centres

How Conversational AI Works for Debt Collection

Conversational AI for debt collection in contact centres explained in three minutes! Watch this video to see conversational AI, intent comprehension and vulnerability recognition in action.

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Can AI Really Understand and Respond to Human Emotions in Debt Collection Conversations?

Upcoming Webinar: 'Can AI Really Understand and Respond to Human Emotions in Debt Collection Conversations?’ The answer is yes. AI is enabling customers to be dealt with empathetically through automation or blended agent engagement, ensuring vulnerable customers experience the right level of care in an efficient way. In 45 minutes, we will delve deeper into how Webio’s AI is being used today in to understand customers and manage conversations based on their specific circumstances.

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How Conversational AI is Transforming Contact Centres

How Conversational AI is Transforming Contact Centres

In his opening address at the UKCCC, Webio CEO, Cormac O'Neill, expounded on how AI is transforming the way contact centres work.

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contact centre AI transformation

Deloitte Survey Reveals What's Driving Transformation of Contact Centres

Deloitte Digital has released its "2023 Global Contact centre Survey," which outlines significant trends impacting contact centre operations. Over the past two years, advancements in AI and predictive analytics are changing the face of automation and customer service.

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icons to represent conversational ai

Conversational AI in Debt Collection: How it Works Webinar

The phrase ‘Conversational AI’ has some ambiguity about what it means. From chatbots, automation, machine learning, NLP and NLU, intents to sentiment analysis, many struggle to connect the dots and see how this technology can work for their business and what can it deliver in the short, medium and long terms. In 45 mins, we take away the mystery and clarify what Conversational AI is in simple, relatable terms, why it is growing in popularity and what it can offer the debt collection industry and your business.

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