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Consumer demand driving advancements in financial services

PK

Modern fintech initiatives are challenged to balance innovation with security and costs while delivering high-performance products and services. Experts project that the financial services sector will spend over $300 billion on IT products and services through 2020 as firms invest in technology to advance their digital transformation efforts.

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How AI Can Help Overcome Hurdles and Help Brand Reputation in Collections

Interactions

The technology allows consumers to communicate on their terms, in their words, without the fear and apprehension associated with talking with a live agent. And in a recent survey conducted by Interactions, 64% of consumers said that they felt uncomfortable when contacted by a live agent regarding an overdue debt.

Brands 125
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How AI Can Help Overcome Hurdles and Help Brand Reputation in Collections

Interactions

The technology allows consumers to communicate on their terms, in their words, without the fear and apprehension associated with talking with a live agent. And in a recent survey conducted by Interactions, 64% of consumers said that they felt uncomfortable when contacted by a live agent regarding an overdue debt.

Brands 118
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Four Key Considerations for Adopting AI for Debt Collection

Interactions

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

In the latest Financial Hardship report, TransUnion cites that over 58% of US consumers have been financially impacted by COVID-19. People are worried about their financial future, and their reaction will likely result in even more debt and delinquency. . Collections agents will feel the effects of this increase in volume.

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Thriving Amidst Rapid Change: Conversational AI and Collections

Interactions

In the latest Financial Hardship report, TransUnion cites that over 58% of US consumers have been financially impacted by COVID-19. People are worried about their financial future, and their reaction will likely result in even more debt and delinquency. . Collections agents will feel the effects of this increase in volume.

article thumbnail

Four Key Considerations for Adopting AI for Debt Collection

Interactions

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.