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Empathy Meets Efficiency: AI-Driven Conversations for Credit, Collections and Customer Services

Webio is a specialist in collections and customer service conversational messaging and has built its own propriety AI technology trained specifically in the language of the credit, collections and customer service industry.

The Webio platform empowers customer service and engagement with conversational AI, using automated chatbots to deliver conversations in any digital messaging channel, personalised and at scale.  

By offering a multichannel solution, Webio enables organisations to connect with customers in their preferred channels, such as WhatsApp, Webchat, SMS and Messenger, and positively and empathetically engage with vulnerable customers.

Using the power of AI, Natural Language Processing and Machine Learning, Webio’s conversational platform can recognise a person’s intent from their messages (what they are saying and want to do), pick out entities (such as dates and account numbers) and use propensity guidance to direct a conversation down the correct route (for example, the propensity to pay, to default, etc.). The AI can also discern whether a person is vulnerable and then guide them to the best option, which may be a live agent.

The challenges facing organisations that rely on traditional contact channels

Organisations that haven’t yet embraced digital messaging for customer engagement face: high call volumes, high cost of collections, low payments, low response rates, and high agent turnover, especially when it comes to inbound customer calls; long call waiting times cause frustration and high abandoned call rates.

The results of Conversational AI surpass expectations

As experts in Conversational AI, Webio guarantees better collections, service and customer experiences. Customer service teams can do more with fewer resources (e.g. closed conversations can go from 60 to 400 per day). Since messaging is asynchronous, organisations can engage in fewer phone calls but have more conversations and have them immediately, with 24/7 chatbot availability.

Metrics that Webio Clients have achieved:

  • 42% Increase in Agent productivity
  • 90% Reduction in Agent Handling Times
  • 52% Improved customer engagement
  • 71% Increase in positive outcomes
     

Presently, 75%+ of customer conversations can be automated with AI chatbots that take care of routine tasks and queries without the need for agent intervention. This reduces call-waiting times and frees agents to work on more complex queries.
 
Using AI-guided chat or self-service that is linked via API to backend solutions, customers can ask questions, change payment dates, or organise new schedules, all tailored to their circumstances. Furthermore, customers are assured that they have been heard and helped, which increases customer satisfaction.

As an innovative Conversational AI company, Webio is on a mission to rebalance the Credit, Collections and Customer Service ecosystem by reimagining the way organisations engage with customers. 

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