Ann Arbor-based Clinc, a leading provider of conversational artificial intelligence (CAI) technology, announced a suite of patented CAI products for banks and credit unions.
The platform, Clinc Public Banking Agent, is built for pre-authenticated interactions, meaning no password or security is required from the customer. Nearly 30 prebuilt requests are already built into the system, allowing for quick and seamless deployment.
It is integrated with both the front and back-end systems at an institution, which allows customers to access balance inquiries, account transfers, bill payment, budget advice, and other tasks tied directly to the accounts information.
“We spent the winter talking with banks and credit unions of all sizes and the message was clear: they need to deliver a better customer experience, at an affordable price point, with a clear ROI — and they need it fast,” says Kyle Hellsten, vice president of product at Clinc. “The critical importance of digital Virtual Assistants was already there, but COVID exacerbated the stress on contact centers and cost containment, forcing the financial services industry to scramble for solutions.”
The Clinc Public Banking Agent also features a library of frequently asked question in its pre-built functions. It can answer card error questions, product information inquires, troubles with overdraft protection, direct deposit, automatic payments, and much more.
The platform is already being used by Minnesota-based U.S. Bank for its Smart Assistant. Customers can send money with a simple voice command using Zelle — a third-party digital payment network — instead of clicking through multiple screens to perform the same task.
Clinc’s robust CAI is unique due to its ability to recognize conversational context. This is useful for many common situations encountered when dealing with CAI, including making corrections if a customer misspeaks while using U.S. Bank Smart Assistant.
“Send Dave $20 this Monday,” will schedule a Zelle transaction for that amount at that time. If the customer meant to send $25, they can say “Actually, make that $25,” to instantly update the scheduled payment.
Another context recognition feature available with the Smart Assistant is feedback. If the request or question is spoken, the CAI will respond verbally; if it is typed, the assistant will produce linked text results only.
“Clinc’s initial success was driven through the incredible user experiences of our large, enterprise customers. This allowed us to leverage all our learnings and experience to build easy to implement, out-of-the box products for financial institutions that may not have large internal IT departments or budgets to build customized solutions,” Hellsten says. “And to continue this success, we are still 100 percent committed and invested in our flagship platform, which will constantly drive the innovation for all our customers, regardless of size.”