NICE Receives “AI Solution of the Year” Award

Technology and AI leadership concept with cute robot holding award

Filed under - Contact Centre News,

NICE has announced that the 2023 National Technology Awards, sponsored by National Technology News, named NICE Enlighten AI for Vulnerable Customers as its “Artificial Intelligence Solution of the Year” award winner.

In its sixth year, the awards program is a comprehensive celebration of leading technology across a range of industries and organized by National Technology News, part of Perspective Publishing, a leading publishing and events company.

The Artificial Intelligence category rewards companies making use of machine learning and algorithms to turn raw data into useful insights and value for customers.

NICE Enlighten AI for Vulnerable Customers is a complete out-of-the-box solution that objectively analyzes every interaction based on the UK’s Financial Conduct Authority (FCA) drivers of vulnerability, as well as complaints, and automates the remediation process. contact centres have traditionally relied on their agents to manually identify vulnerable customers based on training they have received.

But it is difficult to determine the subtle clues of vulnerability because most consumers are not willing to admit or are unaware that they classify as vulnerable.

Enlighten AI for Vulnerable Customers enables contact centres to embed the fair treatment of customers into their business processes by using Enlighten’s purpose-built model for Vulnerable Customers which automatically identifies a vulnerable customer based on customers’ interactions.

This gives front-line staff the visibility and guidance they need to identify and respond to a range of characteristics of the potentially vulnerable.

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 are required by the FCA’s Consumer Duty mandate – which will be enforced starting July 31, 2023 (for existing products and solutions) – to have a special protocol for identifying and interacting with vulnerable customers.

“According to the FCA, estimates are that approximately 47% of UK adults exhibit one or more characteristics of vulnerability.

Enlighten AI for Vulnerable Customers makes it possible for firms to streamline their compliance programs and automate their reporting and coaching processes, cost effectively and at scale,” said Darren Rushworth, President, NICE International.

“NICE has invested significantly in creating a powerful solution that combines the speed of AI with targeted behavioral analytics to provide UK-based contact centres the ability to proactively serve vulnerable customers.”

This blog post has been re-published by kind permission of NICE – View the Original Article

For more information about NICE - visit the NICE Website

About NICE

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: 24th Aug 2023
Read more about - Contact Centre News,

Follow Us on LinkedIn

Recommended Articles

A teddy bear sits in a little wheelchair, with a leg in a bandage and plasters on its head
How To Deal With Vulnerable Customers
Gold trophy with stars on pink background
NICE Enlighten AI Receives Two Product of the Year Awards
Hand holding gold medal on sky background, The winner and success concept
NICE Enlighten XO Receives 2023 “Disruptive Technology of the Year” Award