Leveraging Artificial Intelligence Technology to Improve the Bill Payment Experience - CS Forms
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Leveraging Artificial Intelligence
Technology to Improve the Bill
Payment Experience
Leveraging AI Technology to Improve the Bill Payment Experience Luke Stowe Chief Information Officer City of Evanston, IL Max Bisschop Strategic Partnerships and Direct Sales Alacriti
AI-powered conversational interfaces are transforming how consumers engage with businesses.
Around 39 million people, or 1 in 6 Americans,
now own a smart speaker – up 128% from
January 2017.
Source: NPR and Edison
Research
Smart devices like the Amazon Echo, Google
Home, and Sonos One will be installed in a
majority – that is, 55 percent – of U.S.
households by the year 2022.
Source: Juniper
Research
More than one Google Home device was sold
every second since the Google Home Mini
started shipping in October 2017.
Source:
TechCrunch
The global chatbot market will reach $1.25
billion by 2025.
Source: Gartner
Changes in Consumer Behavior
Changing Nature of User Engagement Websites Mobile Apps Chatbots Changing Nature of Commerce eCommerce mCommerce Conversational Commerce
2009
61% of consumers preferred assistance over the phone.
Source: eConsultancy
2014
The percentage of customers who used live chat for
assistance increased to 58%, up from 38% in 2009.
Source: Forrester
2017
65% of millennials and 55% of consumers overall welcome
chatbots in customer service.
Source: HelpShiftBy 2020, 85% of customer interactions will be
managed without a human.
Source: GartnerAbout half (49%) of smartphone
owners in the US use a voice
assistant at least once a week.
Source: MindShare Futures, 2017
Nearly 50% of people are now using
voice search when researching
products.
Source: Social Media Today, 2017
By 2020, 50% of all searches will
be voice searches.
Source: ComScore, 2017Facebook Messenger Highlights from F8
Businesses are integrating
services directly into the
digital channels
consumers use the most.Book Uber via Facebook Messenger
Representative Clients
Get Fitbit Updates via Amazon’s Alexa
Connect to American Express via Amazon’s Alexa
Shop at Walmart via Google Assistant
What does this mean for payments?
Consumers expect a conversational bill
payment experience:
Anywhere
Real-time
Personalized
Context-awareAI for Bill Payments: Messaging Apps
“What is my payment due date?”
“Your payment is due on July 20, 2017”
“How much do I owe?’
“The amount due is $286”
“I want to make a payment’
“How much would you like to pay?”AI for Bill Payments: Voice Assistants
“Alexa, Open Access Finance”
“Welcome to Access Finance. How can I help you?”
“When is my bill due?”
“Your bill is due on July 15th”
“Make a payment for the entire balance due right now.”
“Please confirm your payment of $150 using
account ending in 2345 scheduled for today.”AI for Bill Payments: Customer Service
Benefits
Increase Customer Engagement Gain Customer Insights
Connect with customers on their Leverage data for greater
preferred digital platforms. personalization.
Enhance Customer Experience Improve Customer Service
Make it personalized, simple, and Seamless responses in real-time.
convenient.Thank You.
Max Bisschop
Strategic Partnerships and Direct Sales - Alacriti
max.bisschop@alacriti.com | (678)-628-2467
Luke Stowe
Chief Information Officer - City of Evanston, IL
lstowe@cityofevanston.org | (847)-448-8177You can also read
