What Customers Want: The AI Concierge Revolution & What’s Next for Fintech CX

Oct 10, 2024

Guest

Corey Besaw

Guest

Aditi Shekar

Guest

Mike Forsyth

Corey Besaw, co-founder of Ubiquity, joins Aditi Shekar, CEO of Zeta, and AI engineer Mike Forsyth to discuss the AI concierge revolution in fintech. They delve into Zeta's unique approach, combining generative AI with human support to enhance customer service and ease financial stress. The conversation highlights how AI can handle substantial customer inquiries, enabling human agents to tackle more complex problems. They also explore the delicate balance between automation and compliance, emphasizing the future of personalized and proactive financial interactions.

Ask episode

Chapters

Transcript

Episode notes

Intro

00:00 • 2min

Revolutionizing Fintech Customer Service

02:21 • 15min

The Evolution of Conversational AI

17:34 • 5min

Integrating AI in Fintech Customer Interactions

22:05 • 16min

Evaluating Customer Experience and AI Integration in FinTech

38:20 • 4min

Balancing Act: AI in the Workplace

41:57 • 3min

Augmenting Customer Service with AI

45:18 • 15min

Welcome back to the grand finale of What Customers Want, a limited 4-part series from the Fintech Takes podcast, hosted by me and Corey Besaw, President of APAC and co-founder of Ubiquity.

In Episode 4, Corey and I are joined by Aditi Shekar and Mike Forsyth at Zeta, a company that’s building a "multiplayer" financial experience for families, offering adaptable joint banking. Their mission, in other words? Exceptional customer service.

We’ve added complexity with each episode, but this time we're diving into the juiciest layer of all: how AI, especially generative AI, is reshaping customer experience and where it’s headed next.

Highlights include:

Exploring Zeta’s concierge model—a compelling blend of generative AI and human support that dials down customer anxiety. Gone are the frustrating “We’re closed until Monday” moments! Here, AI serves not only as a stand-in, but as your savvy financial coach, ready to unravel transaction data and fine-tune your spending strategy.

By leveraging generative AI like ChatGPT, fintechs such as Zeta can handle 30-40% of basic inquiries, freeing human agents to tackle more complex issues. But this balancing act brings challenges; compliance and security are crucial in financial services. How do we find the right mix between constant availability and necessary filtering?

The pivotal role data infrastructure plays in this equation. While LLMs excel in the “last mile” of communication, they rely on robust systems for accuracy. Given the exorbitant computational costs of snapshotting an insane number data points per customer, how can organizations ensure effective AI deployment?

Imagining a future with micro-models that tailor interactions to individual behaviors. Can AI juggle basic requests while knowing when to tap a human agent? Will generative AI step up as your personal financial coach, or will we hit a plateau like the one Tesla faced with its self-driving promises—remember 2015, when they said fully autonomous cars would hit in...two years?

In short, early AI models were a chaotic free-for-all, drawing from the wild west of the internet. Now, we're refining that data for smarter models, but AGI remains an open question.

What's clear is that with innovations like GPT driving the bus, fintech is poised for explosive growth. In customer support, cutting-edge tech could be the silver bullet that transforms how customers get what they want in financial services.

Enjoyed this series? Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/

And for more exclusive insider content, don’t forget to check out my YouTube page.