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What You Need to Know About Contact Center AI

InMoment XI

Virtual Agents and Chatbots: Virtual agents or chatbots, powered by AI, interact with customers in real-time. These agents can engage in text-based or voice-based conversations that provide assistance, answer queries, and guide users through processes.

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Consumer demand driving advancements in financial services

PK

Post-recession demand from consumers for greater transparency, mobility and digital connectivity has driven advancements, but risk management, compliance and cost optimization remain top concerns for today’s banks. Legacy financial companies are finally starting to realize the value of investing in fintech.

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Consumer Behavior is Changing, and it’s AI’s time to Shine

Interactions

From conducting more business over video meetings, to doing more shopping via apps and over the phone, people’s behavior and perspective of virtual interactions has changed for good over the past few months. Changing Consumer Behavior. This month, we investigated just how much consumer behavior has changed since the pandemic.

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Thriving Amidst Rapid Change: Conversational AI and Collections

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. 2020 has brought on a perfect storm for the collections space with more debt and high delinquency rates due to the pressure put on consumers from the economic effects of COVID-19. In fact, consumer debt has risen to record-breaking heights, at over $14 Trillion by mid-2020. Is digital transformation the answer?

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Four Key Considerations for Adopting AI for Debt Collection

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Automation and artificial intelligence (AI) are making significant changes to the way the financial services industry handles consumer credit. And sometimes it can be just a lack of experience with financial planning. Likewise, collection agents have the unique challenge of bearing the emotional burden of collection calls.

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Thriving Amidst Rapid Change: Conversational AI and Collections

Interactions

. 2020 has brought on a perfect storm for the collections space with more debt and high delinquency rates due to the pressure put on consumers from the economic effects of COVID-19. In fact, consumer debt has risen to record-breaking heights, at over $14 Trillion by mid-2020. Is digital transformation the answer?

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The Consequences for Collections Post Pandemic Relief

Interactions

As a result, many consumers are now worried about falling further behind in their bills and payments, without the safety net of extended payment moratoriums. The signals that many individual consumers and households were in for a rough time were strong. The Current Challenge. “These periods of forbearance will eventually end.