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Teaming Up to Deliver AI to the Financial Services Industry

Published on
August 31, 2017

What do most consumers and industry analysts think about financial services customer experience? When thinking of their online experiences with financial services companies, customers mostly recall disappointing service. But advances in artificial intelligence (AI) and machine learning can turn this perception on its head. Firms looking for ways to stand out from competitors and provide a world class financial services customer experience are investing in AI-based technologies, and are starting to reap the benefits.Flamingo – an enterprise technology company based in New York City and Sydney – is committed to helping financial services companies deliver leading edge customer experiences through machine learning and conversational commerce technologies. Flamingo provides a suite of AI powered virtual customer assistants that help businesses improve their online customer experiences, increase online sales conversion rates and reduce service costs. Powered by Flamingo’s AI ‘Rosie’, its virtual assistants seamlessly combine chat, smart workflow, natural language processing and machine learning to automatically guide customers through their online sales or service journey. The result is a faster, more convenient, and more personalized online experience.Making a complex journey simpler with RosieBuying financial services products online can be complex and cumbersome. Flamingo’s Rosie counteracts this experience by guiding customers through the purchasing decision. The AI-based platform learns how customers interact with the financial services site and provides tailored recommendations on products as well as next steps to accelerate the path to purchase. With every customer interaction, Rosie becomes smarter and better able to respond to customer queries.But how does Rosie know where to start? For Rosie to get trained so that her first day on the job is a success she requires training data, which is where Appen comes in.The role of high-quality dataFlamingo knows that Rosie’s initial job performance depends on training her “brain” with high-quality, natural language questions that customers would ask as they advance in their journey on the financial services website. Flamingo turned to Appen based on our reputation for delivering high-quality training data for leading technology firms around the world.Appen conducted a data collection project to train Rosie for Flamingo’s Australian financial services client where a group of native Australian English speakers was asked to provide either a question, comment or response based on the specific step in the customer journey. The natural language data prepares Rosie for some of the initial interactions she might hear in the real world. According to Flamingo CEO, Dr. Catriona Wallace, “The Appen team was a joy to work with. They demonstrated clear expertise in developing our training data, and delivered it ahead of schedule and under budget. Collaborating with Appen ensures that Rosie can deliver on the value proposition of improved customer service and accelerated sales for our clients from day one.”The Australia connectionFlamingo is excited to continue the development of its innovative virtual assistants with the help of Appen, another local firm. And the Appen team is delighted to support them in the financial services market, where machine learning and AI have the potential to revolutionize the industry. “We are thrilled to support Flamingo in its efforts to enhance the customer experience with AI,” said Appen CEO Mark Brayan. “As AI-based solutions branch out into a multitude of industries, Appen will continue to provide the high-quality training data needed to make them successful”.Learn more about how Flamingo and Rosie are changing customer experience for financial services here.Learn more about Appen’s expertise in developing high-quality training data for machine learning here.About FlamingoBased in NYC and Sydney, Flamingo is an enterprise technology (SaaS) company in the emerging fields of Machine Learning and Conversational Commerce that helps businesses to automate online customer experiences for financial services. Flamingo provides a suite of AI powered Virtual Customer Assistants helping businesses to improve customer experiences, increase online sales conversion rates and reduce service costs. Our Virtual Customer Assistants, powered by Flamingo’s AI ‘ROSIE’, seamlessly combine chat, smart workflow, natural language processing and machine learning to automatically guide your customers through their online sales or service journey and help them to achieve what they set out to do. This means convenient, more personalized and faster online customer experiences. Learn more at flamingo.ai.About AppenAppen is a global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence. Appen brings over 20 years of experience capturing and enriching a wide variety of data types including speech, text, images and video. With deep expertise in more than 180 languages and access to a global crowd of over 400,000 skilled contractors, Appen partners with companies and governments worldwide to help them develop, enhance and use products that rely on natural languages and machine learning.

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