Banks are leveraging Conversational AI and analytics to revolutionize the banking landscape in many ways. By enabling banks to automate routine processes, improve customer service, and enhance security, Conversational banking is transforming the way that banks interact with customers and conduct business.  As per an OpenText survey of financial services professionals, 80% of the banks are highly aware of the…

Today's banking industry is characterized by increased competition, digital transformation, and a focus on customer experience. With the rise of fintech startups, banks are facing pressure to innovate and stay relevant in a rapidly changing landscape. Conversational Analytics is one-way banks can drive digital transformation into their operations.  Conversational Analytics is a tool that can assist banks in analyzing customer-agent…

Conversational AI and analytics platforms have become increasingly popular tools for the banking sector as they strive to improve customer engagement and streamline operations. With the rise of AI chatbots and voicebots, banks are using conversational AI to offer a seamless and personalized customer experience.  According to a study by Analytics Insight, the global artificial intelligence market for the banking…

In today's fast-paced and competitive banking industry, banks are always looking for ways to stay ahead of the curve. One of the key ways to achieve this is through the use of predictive analytics. Predictive analytics in banking is a powerful tool that can help banks gain insights into customer behavior, anticipate their needs, and offer personalized solutions that meet…

Consumer preferences are evolving fast. Equipped with new digital innovations and technologies, financial institutions are finding new ways to deliver a positive customer experience. When it comes to customer experience, conversational AI has emerged as a game-changing technology. Conversational AI in customer experience is a concept where artificial intelligence (AI) technologies such as natural language processing (NLP) and machine learning…

AI in banking: The Covid-19 epidemic has increased the tendency of people using a smartphone app instead of visiting their local branch. Market research firm Juniper Research estimates that in 2026, around 3.6 billion bank customers worldwide will prefer to communicate with their providers digitally, up from 2.4 billion in 2020. Conversational AI in banking refers to AI-based technology that…

Debt recovery can be a challenging process for both organizations and customers. Organizations often face difficulties collecting debts, while customers may struggle with the burden of high-interest rates and the need to repay their debts. During debt collection, many accounts fall in the category of delinquency. These accounts need to be dealt with a structured plan to recover debts. Lenders…

Debt collection can be challenging, especially when dealing with write-offs. A write-off refers to a situation where a lender determines that a debt is uncollectible and removes it from their record as a loss. It means that the creditor has given up on attempting to collect the amount owed and has decided to take a financial loss rather than continue…

We all know how fussy it is to get money from people, even when it is yours. Debt collection is never easy; it is even more tiresome with daunting manual procedures and cumbersome documentation. However, with the advent of technology, debt collection can be digitized and made more convenient. With Rezo’s Collection product, digital debt collection is now considerably more…

Debt collection is a critical process for businesses and financial institutions worldwide. However, traditional debt collection methods are often ineffective and time-consuming, resulting in low collection rates. This is where Rezo's AI-driven debt collection product comes in, offering a more efficient solution for early delinquent customers. By leveraging advanced algorithms and machine learning models, the collection product can analyze customer…