Goto

Collaborating Authors

Machine learning will scale personalised customer interactions: Flamingo

ZDNet

Following a successful listing on the Australian Securities Exchange (ASX) on November 17 with a market capitalisation of AU$23 million, conversational commerce company Flamingo is now looking at Australia as a key market, with online lending marketplace DirectMoney being announced as its first local client. Born in Australia and based in the US, Flamingo is a software-as-a-service (SaaS) company that provides an "intelligent guided selling platform" to help financial services firms address the problem of low online sales conversion rates. Currently, the average online quote-to-sales conversion rate in the US insurance industry sits between 1 and 3 percent, compared to 20 to 60 percent conversion in call centres. "The reason for this is that buying products online such as financial services is enormously complicated and customers have a large tendency to abandon doing things online and eventually will go to a call centre or to a broker," Flamingo founder and CEO Dr Catriona Wallace said at a media and investor meeting last Wednesday. "One of our large US clients report that within the first 90 days that a new customer comes on board, 80 percent of those customers will call the call centre four to five times because they don't understand what they've bought.


Meet 11 of the Most Interesting Chatbots in Banking

#artificialintelligence

With consumer expectations increasing, the use of artificial intelligence, machine learning and chatbots in banking is also increasing. Banks and credit unions worldwide are testing new applications and deploying new solutions to improve the overall digital customer experience. Subscribe to The Financial Brand via email for FREE!More and more banking organizations are leveraging artificial intelligence to launch chatbot solutions, reducing costs and serving increasingly tech-savvy consumers. In many instances, chatbots are developed to facilitate two-way communication, replacing channels such as phone, email or text. The objective is to provide quick service and transactional support.


Erica, Eno, Aida and 8 More Interesting Chatbots in Banking

#artificialintelligence

With consumer expectations increasing, the use of artificial intelligence, machine learning and chatbots in banking is also increasing. Banks and credit unions worldwide are testing new applications and deploying new solutions to improve the overall digital customer experience. Subscribe to The Financial Brand via email for FREE!More and more banking organizations are leveraging artificial intelligence to launch chatbot solutions, reducing costs and serving increasingly tech-savvy consumers. In many instances, chatbots are developed to facilitate two-way communication, replacing channels such as phone, email or text. The objective is to provide quick service and transactional support.


Chatbots poised to disrupt fintech industry finder.com.au

#artificialintelligence

Research suggests Australians are ready to embrace fintech banking solutions, and the launch of three new London-based chatbot startups may be a sign the rest of the world is gearing up for a revolution too. Artificial intelligence (AI) has been rapidly progressing over the past two decades, with machines reaching and exceeding human performance on an increasing number of tasks. Just this week, the White House released a report entitled Preparing for the future of Artificial Intelligence, which describes the ways in which AI has and continues to yield new opportunities for progress in critical areas such as health, education, energy, and the environment. Another important area of business, ripe for disruption, is finance and banking. In Australia, almost half (47%) the population expect to use financial technology (fintech) services for 50% or more of their financial needs in five years' time.


Australia well placed to leverage Asia's innovation success: Julie Bishop

ZDNet

In addition to the United States being a global economic and strategic leader for the rest of the world, Australia's Minister for Foreign Affairs Julie Bishop believes it is a leader when it comes to ideas and innovation. Speaking at Australia's Asian Future Summit 2017 in Sydney on Friday, Bishop said having an agile, adaptive economy should be the message the rest of the world, including Australia, takes away from the US. "Adapt and thrive, and innovate or die," she said. According to Bishop, Australia has opportunity in the industries it has always thrived in. However, when it comes to new technology-based opportunities, she said Australia is well placed take advantage of the successes of its Asian neighbours to bring something to the table that complements what its allies can do.