Fintech companies had an accelerated development in 2020, due to the fact that users turned to them almost immediately due to sanitary conditions, however, a couple of challenges that these financial services must face is customer service and security, which can be solved through Artificial Intelligence.
Although the AI focused on this ecosystem can generate controversies, since its application for the delivery of credits opens the door to discrimination, Alejandro López, co-founder of Vozy, a Colombian company of conversational AI solutions, refers that the implementation of the technology it can represent advantages from the approach of use that is had for it.
In this sense, Gerado Obregón, general director of Prestadero, told Expansión that one of the complexities of this technology in the delivery of loans is that its operation is based on a large amount of data, same to which financial startups do not usually have access.
However, the bet for AI may be different, says López, whose team at Vozy has developed voice technologies, artificial intelligence and understanding of natural language, in order to automate conversations between users and companies.
An example of this work is called Lili, an automated virtual voice assistant, who collaborates in the first levels of customer service, in order to improve the relationship between the customer and the company.
In addition, his training is based on conversational flows with users, so by having more talks, he better understands the expressions of each country. For example, identify that an “aha” is equivalent to an affirmative answer.
“The user who calls a customer service line is because he has a problem that he wants to be solved”, problematizes López, who points out that although the purpose of his assistant is to contribute in simple matters, human participation is not exempt and This will be essential to solve more complex care, in addition to freeing yourself from repetitive tasks.
In this regard, Miguel Ángel Treviño, solutions manager at Atento, mentions that “AI cannot replace agents, since they are essential to provide the understanding and closeness that guarantee an excellent customer experience, but they do provide support and essential support to streamline and optimize this experience by providing key information and analysis to offer the most appropriate response or solution ”.
In this sense, a virtual assistant or other AI resources are highly relevant for fintech companies, since according to the World Retail Banking Report 2021 study , carried out by the consulting firms Capgemini and Efma, eight out of 10 banking clients would change their banking traditional by a fintech, due to their bad experience with care.
Likewise, other fintech companies have implemented systems to improve customer service, based on technologies familiar to users, such as chatbots within financial applications or even through WhatsApp, which is much closer to people.
On the other hand, López highlights, Artificial Intelligence and sound within this ecosystem can also generate security options, since voice recognition, for example, helps to identify the identity of a person and even provides two-factor authentications to avoid financial fraud.
“Unlike biometrics, we do not need any additional hardware factor,” says the specialist, who highlights that from Vozy they cannot have access to the user’s voice, since it remains encrypted, thus generating effective tools for mutations of the fintech industry.
It is worth mentioning that in traditional banking, some banks, such as BBVA, have also decided to use technological resources, such as chatbots, to improve the experience of their customers and not lose ground to fintech companies.
