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Finance Digest – 3 Ways Financial Institutions Can Leverage Live Engagement On Social Media

In the call center world, the introduction of interactive voice response technology — which asks callers for basic information about who they are and what they want before routing them to an agent — has already cut down the amount of staff time needed to resolve each inquiry.

Now, smarter bots can interact with customers both online and over the phone, taking care of the simpler questions that companies used to send to workers overseas.

“The chatbots are replacing the offshore contact centers that are pure rote,” said Priya Iyer, the CEO of Vee24, which sells customer engagement software that helps power chatbots and other platforms. “They will always get the answers right.”

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