With the scale at which businesses in the financial industry are operating nowadays, using AI is no longer a luxury, but a necessity. Today Prodigal, an AI-powered workflow automation platform, has unveiled significant enhancements to its product suite to become more compelling for financial services firms that are increasingly moving to AI-based solutions to increase efficiency and productivity.
Prodigal’s upgraded product suite offers real-time tools that put greater automation and control into the hands of debt collection call center teams than ever before. The suite now offers ProNotes, ProAlerts, and ProAssist as a part of its mission to help businesses to maximize revenue, optimize operations, and minimize risk.
ProNotes is a system of intelligence that listens to live agent conversations with the customer and picks up the crucial information in the form of a crisp and succinct 20 to 50-word summary. The note is generated in less than 3 seconds using powerful state-of-the-art AI and ML algorithms, saving agents over 2 hours of precious time per day in post-call grunt work. This translates to a 22% increase in calling time!
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ProAssist coaches agents in real-time and prompts them with the next-best things to say based on real-time conversational AI models which apply on the conversation between the agent and the customer and acts as an end-to-end smart companion. It helps improve payments, customer experience and compliance by providing agents with dynamic instructions and scripts that pop up on the fly to optimize the value of the time they spend on a call.
ProAlerts is an AI-powered supervisor dashboard that enhances call center managers’ ability to engage with their team to provide support. Managers can monitor agents in real-time & get real-time alerts to assist and support them whenever needed to, thus driving increased payments and compliance vigilance.
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“Prodigal turns interactions into insights. These standardized and structured insights flow between stakeholders like loan originators, capital providers, agencies, and customers. This improves the speed and transparency of decision making; delivering a customer-first experience while decreasing the cost of loan operations,” said Nayrhit Bhattacharya, the product lead at Prodigal. “Lenders lose about a third of their time to routine tasks like filling out paperwork or following up with customers after calls. Prodigal automates many of these processes, freeing up an enormous amount of time for agents to focus on the human side of their interactions with customers,”
Having worked at Blackstone, BCG, AmEx, ZestAI, and Tower Research, the team at Prodigal has a deep understanding of the lending industry. They’re passionate about giving lenders the tools they need to engage with customers in more empathetic ways and are demonstrating how this approach drives profits while also minimizing customer complaints. The three aforementioned tools are expected to be available for early access to all users in Q1Y22.
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