Conversational AI Startup Marsview Acquired by Fintech Communications Platform Eltropy
Conversational intelligence startup Marsview has been acquired by digital communications provider Eltropy for an undisclosed sum. Eltropy plans to expand its enterprise contact center services for financial institutions with Marsview’s AI to enhance virtual agents and better automate how customer inquiries are handled.
Marsview AI Service
Eltropy already claims to offer an omnichannel customer service platform for its clientele of credit unions and community banks across text, voice and video. Marsview’s technology will augment the AI behind the chatbots and virtual voice to more quickly and accurately understand what the customer wants, how to help them and who to connect them to if the AI can’t. The enhanced model will be on call at all times of the day to answer common questions about the bank and authenticate customers by voice and password for more personalized services. Banks can therefore tell a customer their account balance, reset any passwords and complete related tasks without taking a human agent away from more complicated tasks beyond AI’s capabilities. However, the system will transfer the customer to a human agent if necessary, and at least start the process of bringing in a human agent if the call is outside office hours. AI will also store and analyze interactions so that clients can see how the system works.
“The challenge for financial institutions today is to be able to quickly meet consumer needs across a variety of new digital communication channels without adding additional staff,” said Eltropy CEO Ashish Garg. “This is where the power of AI comes in. By adding Marsview’s AI technology to our platform, credit unions and community banks can use Eltropy to automate much of the manual, repetitive work that agents handle daily, while still escalating calls to a human representative when needed. It’s a win-win for financial institutions and the people they serve.”
Fintech Conversations
Using conversational AI for customer service has exploded in popularity in recent years, and the financial services industry has been a particularly fertile area for startups in the space looking for investment or an acquisition. Demand led to enterprise AI platform Gupshup acquiring Active.ai and its finance-focused portfolio, banking conversational AI startup FinnAI’s acquisition of Glia, and financial AI startup Personetics cashing an $85 million check from investors. Nor is Eltropy alone in focusing on bringing technology to credit unions. Wisconsin’s Landmark Credit Union began working with conversational AI platform Clinc to create a virtual assistant, and Minnesota’s Wings Financial Credit Union is partnering with Nuance to add voice AI and vocal biometric security to its customers.
“The widespread digital transformation taking place in today’s market presents an opportunity for financial institutions to harness the power of AI,” said Marsview CEO Murali Mahalingam. “Combining Eltropy’s digital communications capabilities with AI will help community banks and credit unions level the playing field against mega banks while delivering exceptional consumer experiences and increasing assets under management.”
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