Enhancing Digital Payments Platforms With Amelia

Banking

In a global economy, the ability to digitally deposit, transfer and track currency is essential. At this point, consumers have abandoned most paper-based, manual processes; some younger demographics have never used physical checks or rarely visit a bank branch. Consumers expect digital transactions to be secure, immediate and instantaneous – all executed on a variety of devices and through multiple channels based on their individual preferences.

A recent survey from ACI and Ovum shows that 89% of merchants expect an enhanced customer experience when they invest in payment platforms, and 79% said omni-channel services are crucial to achieve that goal. Along with these trends, Artificial Intelligence (AI) is emerging as a potential game-changer for payment technology in terms of speed, accuracy and customer service.

  • When will my payment to Jane Smith show up in her account?
  • If you made the payment before 5 pm, it will post today.
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Many banks view payment technology as vital to providing a more advanced customer experience, especially as consumers are now using multiple payments sources in their transactions. Recent regulatory changes allow consumers to provide banks access to all of their financial accounts, even if those accounts are not with that specific bank or financial institution. With payment information spread out across multiple systems, consumers, merchants and retailers have high expectations for seamless omni-channel capabilities – meaning they want services available through websites, mobile apps, platforms like PayPal and Venmo, virtual home agents, and peer-to-peer platforms like Slack and Facebook Messenger.

Amelia works as a digital colleague to deliver a better user experience and improve customer satisfaction in payment services, allowing banks to stand out from the competition with innovative capabilities.

[Amelia’s] emphasis on ‘conversations and empathic responses’ differentiates the software from more transactionally focused cognitive software.

Amelia Enhances its Emotional, Contextual and Process Intelligence to Outwit Chatbots, NelsonHall, August 2017

What Amelia Can Do

Amelia can elevate payment technology with a variety of features that easily scale to handle high transaction volumes. Along with an ability to process information faster than humans, Amelia provides highly personalized service that gives consumers confidence that their transactions are accurate and secure.

Our customers are demanding the ability to handle finances through all their devices.

I'm available 24/7 through phone, web, and mobile. Oh, and smart speakers, too.

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Transfer payments: Using her advanced automation and workflow abilities, Amelia can execute customer wire transfers faster than human agents and more accurately than other automated systems. Amelia’s integration hub allows her to tie into back-end processes at banks and financial institutions, so she can access the most up-to-date data and information. Amelia will receive a customer wire transfer request, submit it for bank authorization and verification, confirm availability of funds and process the transfer (or reject the transfer if funds are insufficient).

Throughout the process, Amelia will keep the customer fully informed. Her self-learning and automated training capabilities give her the capacity to adhere to all necessary laws and regulations, so a customer’s data and privacy are protected and the bank remains in compliance. She also can learn new processes and requirements as needed.

Recurring transfers: Amelia can schedule regularly recurring transfers of a fixed amount, such as monthly mortgage payments, and direct debits for monthly utility payments that fluctuate, such as mobile or electricity bills. With her advanced analytics and contextual awareness, Amelia can prompt a customer on whether they would like to schedule such payments to avoid the hassle of requesting those transactions separately. Through her conversational interface, Amelia can walk a customer through the necessary steps, with all of the needed security requirements to prevent fraud and confirm the customer’s identity. Similarly, she can cancel or set up those payments at a new bank if a customer switches financial institutions.

88.06% Customer service satisfaction
Major gaming company call center

General payment queries: With her integration and context capabilities, Amelia can offer customers information on cancelling checks and payments, ordering new checks, and converting payments into different currencies. Amelia’s emotional intelligence allows her to display human-like understanding, so customers feel the interactions with their financial institutions are important, valued and personal.

Critically, Amelia can deliver her services 24/7 in an omni-channel environment, through whatever platform and device a customer prefers, including mobile phones, Alexa, Google Home, and Slack. She also can cross channels, so interactions commenced on one channel can be continued in another, and Amelia will maintain the conversation throughout the experience. Amelia understands and speaks in multiple languages, so she can communicate in a customer’s natural dialect and understand sentences, phrases and utterances.

Results

Amelia brings new dimensions of customer service and efficiency to payment processing services, delivering real-life business benefits to banks and their customers.

Amelia securely verifies identity and accounts in a few easy steps.

Improved customer experience: As an intelligent and interactive platform, Amelia connects with customers in ways that static chatbots simply can’t, and she consistently drives higher overall customer satisfaction scores. Amelia also learns and improves over time, with accuracy levels as high as 90% on certain transactions and processes, and 92% on general queries.

Decreased wait time: Working faster than humans, Amelia can cut customer wait times in half or more depending on the transaction or query, thanks to her ability to integrate with back-end systems and automate responses. Reducing transaction and support resolution times engenders customer trust and loyalty, and helps build long-term customer relationships. Consumers keep coming back to Amelia because they know the experience will be swift and satisfying.

Positive workforce impact: Amelia is designed to work alongside human colleagues, not replace them. Amelia can handle routine tasks that often bog down human agents, and interfere with their ability to work on more engaging duties. When Amelia is unable to process a request, she passes it to a live agent who can continue the interaction with virtually no disruption, providing a quality service experience end-to-end.

Banking Use Cases

Learn more about Amelia

Amelia is transforming businesses around the world, providing massive ROI at scale and superior customer experiences while reducing risk. She can do the same for yours.

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