According to a comprehensive research report by Market Research Future (MRFR), the market is predicted to thrive during the assessment period from 2022 to 2030.
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According to a comprehensive research report by Market Research Future (MRFR), the market is predicted to thrive during the assessment period from 2022 to 2030.
VIEWDebt collections software growth is due to the use of self-service payments and automating the loan collection process. The market is expected to witness robust growth as businesses implement self-service payment platforms to keep track of their customers, track bill payments, and maintain credibility.
VIEWAs consumers, we’ve widely welcomed artificial intelligence and machine learning into our daily lives. “Smart” speakers, facial recognition on our phones, targeted ads we love to hate — these are just some of the AI-powered technologies all around us. But inside companies, the status of adoption is more of a mixed bag.
VIEWWhen using automated assistants, it’s extremely important to create rules that decide when a query needs to be handed off to a live advisor. There are many situations where this can prove critical. For instance, when automated assistants are dealing with overly complex queries that only a live advisor would be able to manage. More...
VIEWIn his article in the Irish Times, Seán Duke talks to leading thinkers and innovators in the conversational AI space and where it is going with AI chatbots, the pitfalls the opportunities and how design is of the utmost importance.
VIEWAs businesses embrace real-world applications of AI-based chatbots and voice-powered assistants, investments and acquisition action in the space are growing year on year
VIEWWith more and more evolution, Conversational AI is advancing at a great pace and making it possible for machines to interact with humans via natural language. Here are some of the Conversational AI trends that Ajay Kapoor covered in a recent article on Artificial Intelligence in Plain English.
VIEWWhen the Covid-19 pandemic struck, in many cases making digital the only channel through which customers could interact with brands, Forrester saw a significant uptick in inquiries related to accessibility, mostly from companies getting serious about accessibility for the first time. The pandemic served as a wake-up call not just about the importance of digital accessibility but about its benefits, like:
VIEWWhile general purpose Large Language Models (LLMs) are perfect for conversational AI chatbots they fall short when it comes to specialised use cases. On the other hand, language models that are custom trained on industry-specific terms for an individual vertical can understand and respond to industry-related queries, tasks, and challenges with greater accuracy and expertise.
VIEWAs technology continues to advance, we can expect to see even more innovative self-service solutions that will further enhance the customer experience. We’ve come a long way from the early tech and now the line between the product and the service is blurred.
VIEWConversational AI provides a unique solution that delivers customer intimacy and operational efficiency all rolled into one, making it perfect for customer engagement.
VIEWHow to spend no more than 35p on collections? Those in the collections field are achieving more with less by adding conversational AI and automation to their self-service portals, which allows them to collect debt in a way that their customers like and at a fraction of the cost.
VIEWOver the last 10 to 15 years there has been a seismic shift in how we communicate and now our go to mode is digital messaging. But why is that? We’ll dive deeper in to see why.
VIEWNow more than ever in the current financial climate it is important to tackle potential payment problems early and a strategy is needed to identify and help vulnerable customers.
VIEWAdvances in digital debt collection technology, especially in the area of multichannel conversational AI messaging, has changed the way businesses engage with their customers about their debt. This blog is a summary of a webinar presented by Webio’s Mark Opperman and Andy Turner. It looks into the why and how of modernising your debt collection practices.
VIEWManaging contact centres can be challenging, especially when it comes to operational efficiency, customer satisfaction and agent retention. Here are some tried and tested strategies to boost agent efficiency.
VIEWCompanies are embracing self-service solutions to replace the phone to manage debt conversations and FAQs. The biggest issue here is these companies are ultimately sacrificing customer intimacy for operational efficiency. This trade-off comes at a cost. The loss of customer intimacy directly impacts customer experience, the ability to handle and manage multi-layered complex issues and ultimately, conversation and business outcomes.
VIEWThe cost of collecting customer payments is a crucial focus for collections teams, with a concerted effort made to drive down the cost per £ collected and deliver a consistent customer experience. Technology has been playing a significant role in doing just that.
VIEWThe quality of a chatbot ultimately depends on your testing process which ensures that it functions as intended and is compliant to the pertinent regulations. In the end, a chatbot that fails to perform will frustrate your customers and hold up your processes. Get your copy of the Chatbot Testing Checklist!
VIEWThe 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.
VIEWWebio's Chief Strategy Officer, Paul Sweeney, gave a talk at the European Chatbot & Conversational AI Summit 2023 where he unpacked how conversational AI can help companies engage with financially vulnerable and indebted customers.
VIEWThe challenges for those managing the debt collections are how to do more with the same agent resources, shift the balance from agent labour intensive to smarter agent customer engagement, and avoid having agents on the dialler when it is ‘not spinning. This webinar takes a look at the actual statistics that clients achieve using automation as part of their debt collection engagement strategy. 300% may seem like a made up figure for effect, but that's the agent efficiency rate that is achievable and we will show how.
VIEWWebio’s Self-Service Studio is the next generation in self-service portals. This customer self-service portal lets customers manage their debts centrally whilst being fully supported by conversational AI messaging to ensure customers complete their journey without unnecessary friction.
VIEWIn this podcast produced by CRM Playaz, three recognized experts in the conversational AI s;phere - Conversational X's Mitch Lieberman, Opus Research's Dan Miller and Webio's Paul Sweeney - discuss if we are entering the AI's golden era and what this means.
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