What will be the impact of Voice on FinTech

~ Brandon McGee ~ Leave a comment

Photograph by onurdongel
  • “Eight in 10 consumers in PwC’s 2019 Global Consumer Insights Survey said they conducted at least one financial activity through a digital channel in the past year.
  • According to PwC estimates, roughly two-thirds of the inquiries handled by call centers concern basic customer assistance issues,
  • For instance, PwC thinks voice could reduce frontline personnel by 10 to 15 percent. It could also diminish risk for the bank, cutting human error by as much as 15 to 30 percent.”

https://www.strategy-business.com/blog/Banking-on-voice?gko=2b8ce

Disrupting the disruptors: How AI and voice recognition can transform the customer experience

  • “Artificial Intelligence and natural language Machine Learning (ML) are on the verge of transforming the fabric of voice-driven customer experience through pioneering speech recognition technology.
  • Leading voice technologies, in essence, will enable businesses to automatically identify, understand and service their clients. It will help them improve the customer experience and reduce costs. FinTech companies have helped shape the future of banking, now they must embrace the future of customer communication.”

https://www.finextra.com/blogposting/17266/disrupting-the-disruptors-how-ai-and-voice-recognition-can-transform-the-customer-experience

Senso and RBC taking Canadian FinTech by storm

~ Brandon McGee ~ Leave a comment

  • “Fintech AI Platform Senso.ai Raises $1.5M CAD in Seed Funding
  • Senso.ai brings next generation artificial intelligence to the financial services industry
  • Senso.ai provides financial institutions with a cloud-based infrastructure to generate predictive insights about consumer portfolios which continuously improve over time. Their technology is being leveraged by financial institutions across the Canadian market, including RBC.”

https://www.newswire.ca/news-releases/fintech-ai-platform-senso-ai-raises-1-5m-cad-in-seed-funding-829807148.html

Senso.ai – https://senso.ai

Saroop Bharwani – CoFounder and CEO

http://linkedin.com/in/saroopbharwani

Case Study

50 Retail Innovation Stats That Prove The Power Of Customer Experience – Forbes

~ Brandon McGee ~ Leave a comment

Let me begin by acknowledging that I’m a full-fledged data geek. With that in mind, these are my favorite articles. Forbes has just published a consolidated list of 50 Retail/CX stats. Plus, the data is from top-tier sources. This is literally gold when it comes to developing a business case for capital funding.

Check out the Forbes site for the full list, but here are a few of my favorites:

  • “In 2018, 51% of e-commerce brands offered same-day delivery, up from 16% in 2017. Experts predict that within the next two years, 65% of retailers will offer same-day delivery. – BRP Consulting
  • 87% of consumers begin their shopping journey with digital, a jump from 71% in 2017. – Salesforce
  • 48% of shoppers have left a brand’s website and made a purchase from a competitor because of a poorly personalized experience. – Marketing Dive
  • 87% of customers will abandon their online carts if the checkout process is too difficult. – PRWeb
  • 82% of consumers consult their phones while they’re in a store deciding what product to buy. One in 10 of those people end up buying a different product than they had planned. – Think With Google
  • By 2020, more than 40% of data analytics projects will relate to customer experience. – Gartner”

https://www.google.com/amp/s/www.forbes.com/sites/blakemorgan/2019/05/21/50-retail-innovation-stats-power-customer-experience/amp/

Clinc on the move

~ Brandon McGee ~ Leave a comment

Clinc raises over $50 million to bring conversational AI to cars, banks, and kiosks

  • “Clinc, a four-year-old AI startup based in Ann Arbor, Michigan, today announced that it’s secured $52 million in series B financing
  • Last year, the firm saw a 300% uptick in revenue and expects to more than triple business this year.
  • “We’ve had phenomenal growth and built unbelievable momentum in a very short period of time,” said CEO Jason Mars
  • Clinc’s tech, like Apple’s Siri or Google Assistant, leverages a combination of natural language processing (NLP) engines, machine learning, and deep neural networks to make sense of human speech.”

https://www.google.com/amp/s/venturebeat.com/2019/05/20/clinc-raises-50-million-to-bring-conversational-ai-to-cars-banks-and-kiosks/amp/

  • Jason Mars – CEO

    • http://linkedin.com/in/jason-mars-74041037

    Clinc- https://clinc.com

    Customer Story

    Clinc and Isbank are revolutionizing Turkish banking with the creation of Maxi, a personal financial assistant that is currently being used by 6 million Turkish-speaking, mobile banking customers, today.

    Consumer Goods, eCommerce Sales and Groupon

    ~ Brandon McGee ~ Leave a comment

    Sunil Rao, Global Head of Consumer Goods, Salesforce

    Three ways consumer goods leaders are investing in the future

    • “Amazon’s reach has swept the industry: 68% of CG leaders think that consumers are more loyal to Amazon’s Marketplace than individual brands.
    • Retailers and brands are losing the battle for replenishment: Shoppers are choosing online marketplaces 47% for repeat purchases, ahead of retailers (34%) and brands themselves (20%).
    • Powerful private-label brands from the likes of Tesco, Hema, Costco, Amazon, and Walmart are soaring to new heights: In 2018, Costco’s Kirkland brand earned nearly $40 billion — an 11% increase from 2017 (and more sales than Campbell Soup, Kellogg’s, and Hershey combined).”

    https://www.google.com/amp/s/www.zdnet.com/google-amp/article/three-ways-consumer-goods-leaders-are-investing-in-the-future/

    Commerce Dept: eCommerce Sales Jump 12.4 Pct In Q1

    • “The Commerce Department reported Friday (May 17) that eCommerce sales were up 12.4 percent from last year to $127.3 billion, measured in terms of non-seasonally-adjusted data.
    • And eCommerce sales have doubled through the past five years, noted Seeking Alpha, reaching a recent threshold last year of more than $500 billion.
    • Walmart stated that its eCommerce sales grew by 37 percent. Management said on the earnings call”

    https://www.google.com/amp/s/www.pymnts.com/news/retail/2019/us-commerce-department-online-sales/amp/

    Groupon Celebrates 200 Million App Downloads

    • “Planned mobile improvements in 2019 include using Groupon’s proprietary data, machine learning and AI to improve discovery, relevance and service on the platform. Mobile is also a key enabler of Groupon’s booking and voucherless initiatives that make it easier for people to use their Groupons.”

    http://new.whatmobile.net/groupon-celebrates-200-million-app-downloads/