NICE Launches Enlighten AI for Vulnerable Customers Related Articles How To Deal With Vulnerable Customers How to Serve Vulnerable Customers NICE Announces Enlighten Actions NICE Launches Next Big Leap of Enlighten © ink drop - Adobe Stock - 239342079 132 Filed under - Contact Centre News, NICE NICE has announced the launch of Enlighten AI for Vulnerable Customers to support UK businesses in providing fair treatment to vulnerable consumers and driving compliance with the Financial Conduct Authority (FCA) regulation. By analysing every voice or digital interaction in real time, contact centres can identify and respond to consumers susceptible to detriment. The solution facilitates companies in embedding fair treatment of customers into their business processes by giving front-line staff the visibility and guidance needed to effectively respond to a range of characteristics of vulnerability. The FCA broadly defines a vulnerable customer as anyone who is susceptible to detriment due to personal circumstances. Organizations that provide financial services to consumers in the UK are required by law to have a special protocol for identifying and interacting with vulnerable customers, the failure of which will result in substantial penalties and reputational damage. According to the FCA, more consumers find themselves in vulnerable circumstances due to the pandemic, with 53% of adults displaying a characteristic of vulnerability. Contact centres rely on agents to identify these customers but the process is subjective and prone to errors. Consumers are also not always comfortable in sharing their vulnerability making it ever more difficult to identify them. NICE Enlighten AI for Vulnerable Customers deciphers consumer behaviours and transforms them into objective insights to consistently detect vulnerable customers in real time. Based on NICE Enlighten AI, the first comprehensive AI framework for customer engagement, the solution comprises purpose-built compliance and advisor behaviour models and is based on one of the most expansive interaction databases. By precisely classifying every interaction based on the FCA drivers of vulnerability, including in categories such as health, life events, resilience and capability, the solution allows organizations to take proactive action. Organizations can also assess how front-line staff interact with customers, including on soft skills such as active listening, demonstrating empathy and effective questioning, and if they are following procedures. Pre-built dashboards provide supervisors with immediate visibility into vulnerable customer compliance scores and advisor behaviours needing evaluation and coaching. Barry Cooper, President, NICE Workforce & Customer Experience Group, said, “Fuelled by the pandemic, the need for organizations to treat vulnerable customers fairly is at an all-time high. With Enlighten AI, organizations can leverage a pre-built AI model to objectively and automatically identify vulnerable customers and alter business processes in real time.” For more information about NICE - visit the NICE Website About NICE NICE is a leading global enterprise software provider that enables organizations to improve customer experience and business results, ensure compliance and fight financial crime. Their mission is to help customers build and strengthen their reputation by uncovering customer insight, predicting human intent and taking the right action to improve their business. Read other posts by NICE Call Centre Helper is not responsible for the content of these guest blog posts. The opinions expressed in this article are those of the author, and do not necessarily reflect those of Call Centre Helper. Author: NICE Published On: 29th Oct 2021 - Last modified: 2nd Nov 2021 Read more about - Contact Centre News, NICE Recommended Articles How To Deal With Vulnerable Customers How to Serve Vulnerable Customers NICE Announces Enlighten Actions NICE Launches Next Big Leap of Enlighten Related Reports eBook: Cut Contact Center Costs Without Straining Employees Report: The State of the Market for Workforce Engagement Solutions eBook: Hit Business Goals, Engage Agents, and Delight Customers eBook: Break Outdated WFM Paradigms Contact Centre Reports, Surveys and White Papers Get the latest exciting call centre reports, specialist whitepapers and interesting case-studies. Choose the content that you want to receive. Contact Centre Reports, Surveys and White Papers Invites to exclusive Webinars & Events Weekly Newsletter