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Tuesday, May 30, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

AI and Autonomy

LivePerson brings artificial intelligence to the banking world

Fast Company named LivePerson the #1 Most Innovative AI Company in the world.

Photo by Andre Taissin on Unsplash

South African bank, CapitecBank and customer engagement solution provider, LivePerson (NASDAQ:LPSN) are partnering to get Capitec’s customer experience in line with its stated mission to help its clients “bank better to live better.”

The partnership will give Capitec’s clients an affordable and accessible banking service, while helping spur on the evolution of the client experience towards something that’s more seamless and personalized. LivePerson and its partner iSON Xperiences will use consultancy, implementation and success management services to support the growth and optimization of Capitec’s voice and messaging conversational channels.

“Our clients are at the heart of everything we do. Now we have redefined seamless, personalized experiences and empowered our clients to engage with us on channels they prefer. We are improving our clients’ lives by reducing their need to make costly and time-consuming trips to the branches or phone calls to our sales and support centers. Through this partnership, we will also invest further in our people, including helping them learn how to work with the automation and artificial intelligence tools that are increasingly relevant to their careers,” said Carlos Moodley, head of conversational banking product at Capitec.

LivePerson is involved in the creation of artificial intelligence powered digital experiences. Its customers include leading brands like HSBC, Orange and GM Financial, and have conversations with millions of their customers and consumers using LivePerson’s Our Conversational Cloud platform. The platform is behind nearly a billion conversational interactions every month, giving the company a strong and dense dataset to build connections that reduce costs while increasing revenue. Fast Company named LivePerson the #1 Most Innovative AI Company in the world.

In contrast, Capitec is the biggest digital bank in South Africa with data based on number of clients. It offers simplified, affordable and transparent banking with personalized service, using tech to reduce cost and increase security and accessibility. It’s one of South Africa’s biggest digital banks with over 10 million digital clients.

“We’re thrilled to partner with Capitec to help them build banking experiences on the conversational channels consumers prefer, supported by both iSON Xperiences’ local expertise and presence and LivePerson’s industry-leading technology and platform,” said Rob LoCascio, founder and CEO of LivePerson. “Capitec is known for continually improving banking so their clients can live better lives, and we look forward to supporting this important mission.”

Read more: The Mugglehead technology roundup: artificial intelligence edition

Read more: Minerva Intelligence puts artificial intelligence in the driver’s seat

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