Insights and Inspiration

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News on credit and collections and BNPL in UK

Financial Struggles, BNPL and the Future of Lending

Paul Sweeney (Chief Strategy Officer at Webio) looks deeper into: "Financial Struggles, BNPL and the Future of Lending" and what this means for consumers.

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News on credit and collections in UK

FCA Warnings, Fintech Funding, and LLM's Transformative Power

This week in the Credit Shift News Update, Paul Sweeney (Chief Strategy Officer at Webio) and Cormac O'Neill (CEO) discuss: "FCA Warnings, FinTech Funding, and LLMs Transformative Power".

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News on credit and collections in UK

Treasury, Tech, and Trends

This is a Credit Shift News Update, where host Paul Sweeney, Chief Strategy Officer at Webio, navigates the latest stories in the credit industry. This week, Paul looks at "Treasury, Tech, and Trends".

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psychology of credit

The Unserved and The Invisible - The Value Opportunity

Join us on our exploration of the psychological and behavioural aspects of financial services products, with a particular focus on debit and credit cards. Hosts Paul Sweeney and Dan Blagojevic (Optima), together with esteemed guest Sean O’Toole (FinTech & SaaS Advisor), discuss the utility and emotional value of these products.

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Credit News on credit and collections industry UK

Blockchain, Amazon Pay and AI's Impact on Payment Systems

Could the rising fees from Visa and MasterCard be the catalyst that propels blockchain into the mainstream? Join host Paul Sweeney and Webio CEO, Cormac O'Neill, to dissect this possibility and more while navigating the evolving landscape of the credit industry.

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News on credit and collections industry UK

Credit Card Trends, The Future of E-commerce and LLMs

This week the team discusses FICO's latest credit card market report, the future of e-commerce and financial responsibility, the FCA's Duty of Care legislation, challenges that financial institutions face in keeping up with technology advancements, and the impact of AI and Large Language Models on Business Process Outsourcing.

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Has ChatGPT Ushered in the Golden Era of Conversational AI?

CSA CEO Chris Leslie Interviews Webio's Mark Oppermann Ahead of UKCCC 2023

In the run up to the UKCCC 2023, Chris Leslie (the CEO of CSA) spoke with Webio's Mark Oppermann about what to expect at this year's conference and the impact of conversational AI on customer engagement in credit and collections.

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News on credit and collections industry in UK

Rising Costs, Generative AI, and the CEO Perspective

This week in the Credit News Update Paul Sweeney and Cormac O'Neill unpack the impact of record-breaking wage growth in the UK, the surge in rental costs, and the worrying increase in tenants with only a month's worth of savings. They also look at generative AI and Webio's CEO shares a final thought.

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News on credit and collections in UK

The Impact of Mortgage Arrears, Embedded Finance & Ethical AI

This week in the Credit News Update Paul Sweeney and his guest Cormac O'Neill look at "Credit News: Mortgage Arrears, Embedded Finance & Ethical AI".

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News on credit and collections in UK

Unraveling Credit Invisibility, Financial Exclusion, and the Future of FinTech

This week in the Credit News Update Paul Sweeney looks at "Credit Invisibility & Financial Exclusion, Missed Payments and Venture Capital & Financing". Paul also unpacks a recent Lexis Nexus Report.

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AI in credit and collections

The Future of Large Language Models and Their Impact on Enterprises

Paul Sweeney, Chief Strategy Officer at Webio, shares his thoughts on the future of large language models, the impact they could have for enterprises and what Webio is harnessing LLMs for today.

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News on credit and collections in UK

Mortgage Rates, Consumer Debt Trends and Economic Impacts

This is a Credit Shift News Update, where host Paul Sweeney, Chief Strategy Officer at Webio, navigates the latest stories in the credit industry. This week, Paul looks at "Mortgage Rates, Consumer Debt Trends and Economic Impacts".

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The Credit Shift Podcast - What's it All About?

Credit Shift is the podcast for today's credit industry professional. Paul Sweeney, Chief Strategy Officer at Webio, will be discussing with leaders in the credit and collections industry about some of the issues of this space.

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AI in credit and collections

AI Adoption and the Future of the Credit and Collections Industry

Are we on the brink of a transformative shift in the credit and collections industry? This question sets the stage for our thought-provoking discussion with industry experts, Dan Blagojevic (Optima Partners) and Chris Warburton (ROStrategy).

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Podcast: Revolutionising Contact: AI and Digitalisation Transformation

Revolutionising Contact: AI and Digitalisation Transformation

AI and digitisation are changing customer service by enabling personalised and a high level of support. In a discussion with Paul Sweeney from Webio, Chris Warburton from Ro-Ar explores the impact of AI, and more specifically, conversational AI, on customer service operations and society in general.

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Has ChatGPT Ushered in the Golden Era of Conversational AI?

Has ChatGPT Ushered in the Golden Era of Conversational AI?

In 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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AI in contact centres

How AI Helps Contact Centre Agents Detect and Help Vulnerable Customers

AI technology has shifted how contact centres help customers, offering support to agents in identifying financial vulnerability and providing personalised intelligent assistance.

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financial services and banking

Access to Financial Services - The Unserved and The Invisible

In financial services, creativity and innovation have opened doors to financial opportunities for the once overlooked. Various initiatives and technological advancements have changed the way we manage our money and how we access it.

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The Psychology of Credit Choices

In the credit industry there is an intriguing interplay between psychology and consumer credit behaviour. The reality is that financial services are not just about utility; they also have emotional components.

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conversational AI job losses

Welcoming Conversational AI into Contact Centres – Will it Trigger Job Losses or Job Transformation?

Conversational AI is a powerful tool for contact centres, but will it spell job losses or job transformation? Contact centre agents are anxious about their future, but it could be a bright one.

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AI chatbots in debt collection

Myths About AI Chatbots for Debt Collection

There are myths about conversational AI that may be holding businesses back from adopting it. This article takes a look at these and shows why fears around using AI for credit and collections are often unfounded.

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AI debt collection

AI Debt Collection: Changing the World of Credit and Collections

Debt collection can be a difficult and sensitive process for both customers and collection teams. AI chatbots can help to make the process more empathetic and efficient, leading to better outcomes for everyone involved.

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webchat for debt collection

Webchat: The Rising Star of Digital Debt Collection

Webchat, often overlooked in the credit and collections industry, is now emerging as a powerful tool for elevating customer experience while optimising operational efficiency using conversational AI.

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AI for debt collection

Debt Collection's Journey to AI Adoption

In response to the recent financial crisis and the explosion of AI tech innovation, the credit and collections industry is seeing a shift to businesses using AI and technology to help customers manage their finances.

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financially vulnerable customers

How UK Utility Companies are Helping Vulnerable Customers

Amidst the current cost-of-living crisis, many organisations have implemented customer support measures. Utility companies have proactively reached out to their customers with information on how to get help. We look at four examples of UK utility companies who have set up innovative measures to help their customers.

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WhatsApp Business and SMS Complement Each Other in Collections

How WhatsApp Business and SMS Complement Each Other in Collections: Webinar Summary

Finding the right balance between channels like WhatsApp and SMS is important for effective customer communications in debt collection. We explore the roles of WhatsApp and SMS and how they complement each other in automated collection efforts.

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AI innovation

Building a Strong Foundation for AI and Innovation: How to Herd Genius Cats

Fostering an environment of innovation, particularly in the complex field of AI, is a sophisticated task requiring a well-designed and well-managed blend of people, processes, and technology.

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AI copilot

Evolving Role of AI in Contact Centres: A Copilot for Customer Service Agents

The role of AI as a digital assistant is moving towards a copilot model where it works alongside the customer service agents, supporting and enhancing their work experience.

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debt recovery software

Conversational AI: A Breath of Fresh Air for Debt Recovery Software

Conversational AI is breathing new life into debt recovery solutions today, ushering in an era of enhanced customer engagement and elegant debt recovery strategies.

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live chat for customer service

Webchat for Customer Service: Helping Customers Find Their Way

To stand out from the crowd, companies can’t just provide a good offering, but they have to back it up with exceptional customer service. While traditional customer service channels like the phone and email have their strong points, there's a player in town that's making its mark – webchat.

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how does live chat work

How Does Webchat Work?

We’ve all seen them, those small icons at the bottom of a webpage that you click to open a live chat pop-up. Online webchat is a quick way to get in touch with a company, so you may have enjoyed the ease of webchat, but have you ever wondered how this smart technology works?

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large language models for AI chatbots

Give AI Chatbots the Edge with Custom Trained Language Models

While 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.

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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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Conversational AI Will Help Drive Worldwide Contact Center Market

Gartner: Conversational AI Will Help Drive Worldwide Contact Centre Market to 16% Growth in 2023

According to Gartner, the worldwide contact centre market is projected to experience a 16.2% growth from 2022, with total end-user spending reaching $18.6 billion in 2023.

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How Webchat Designed for Debt Collection Reduces Calls and Improves Collections

How Webchat Designed for Debt Collection Reduces Calls and Improves Collections

The addition of automation and AI into web chat has revitalised the Web Chat channel, infusing it with renewed vitality. Now it is fit for purpose, its a great addition to a digital debt collection strategy. With Webchat built specifically for debt collection see how to use it and how it to enhances customer experience and optimises operational efficiency,

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AI chatbots in WebChat

Explainer: DebtChat | Credit-Focused Customer Engagement Webchat

Webio's DebtChat is custom built around the language of credit and collections. This webchat solution brings all the conversational AI and automation tools to live online chat that power Webio's customer engagement platform.

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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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Self-Service is Letting You Down; Here’s Why

How WhatsApp and SMS Complement Each Other for Digital Debt Collection

Companies 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.

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Spend No More than 35p on Collecting Customer Payments

The 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.

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AI chatbots

Guide: Chatbot Testing Checklist

The 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!

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Conversational AI debt collection

Conversational AI Messaging Delivers in Credit and Collections

Webio'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.

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conversational AI messaging for debt collection

Report: Conversational AI Market Projected to Hit $32.5 Billion by 2030

According to a research report by Market Research Future, the conversational AI market is predicted to thrive.

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How to Increase Agents' Daily Closed Conversations from 60 to 300+

The 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.

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self-service portal

Self-Service Studio: Complete Customer Self-Service Journeys with Help from Conversational AI

Webio’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.

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CONTACT US

DEMO REQUEST

Register for a personalized demo where our team will review how Webio's intelligent customer engagement solutions can positively impact inbound and outbound customer engagement in your business.

METRICS WE’VE ACHIEVED

52%
Uplift in Payment Arrangements
42%
Increase in Agent Productivity
57%
Decrease in Operational Costs
48%
Increase in Customer Engagement

YOUR DETAILS

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