Edinburgh fintech partners equity release provider

Edinburgh-based fintech firm Aveni has partnered with equity release provider Key to monitor conversations with artificial intelligence technology for improved customer service.

The work is designed to support improved advisor training and oversight, as well as boost quality assurance processes.

The first phase of the rollout has already seen Key’s quality assessors being able to conduct call assessments in less than half the time due to the platform’s intuitive search options.

Will Hale, chief executive of Key, explained: “Beyond efficiency, this partnership will allow us to drive greater transparency and oversight, and help us to better identify vulnerable and other high risk customers, all of which contribute towards ensuring the best possible outcomes for our customers.”

Key is continuing to work with Aveni to build its customer vulnerability processes, with the goal of using this guidance to make its vulnerability framework as transparent as possible.

Historically, identifying customer vulnerability or those who are at high risk has been the role of an agent, requiring them to flag a potential issue for further investigation. By using Aveni to monitor all its conversations with customers, specific keywords and phrases can be automatically flagged and routed to the compliance team at Key for review.

For example, certain topics mentioned in conversations with an agent, such as a bereavement or illness, may be indications that a customer is potentially vulnerable and requires support.

Leveraging natural language processing technology, Aveni takes a unique approach to customising its platform for its clients – drawing on information about their customers, culture, products and processes to deliver more accurate results.

For example, in the banking sector, a customer is generally considered potentially vulnerable when over the age of 65. However, given Key’s focus on retirement finance, this would pertain to a majority of its customers, so it has configured Aveni to monitor for different criteria.

“Every company is unique, and off-the-shelf speech analytics tools often deliver less than optimal results, so we start by understanding the specific problems our customers are trying to solve,” said Joseph Twigg, chief executive of Aveni. “It’s great to work with a company like Key that truly cares about its clients and recognises that innovative solutions can help improve customer service and ultimately unlock a wealth of new intelligence and insight.”

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