A Scottish fintech company has been selected by global credit reference and reporting agency Equifax as its ‘strategic AI partner’.
Aveni.AI’s ‘detect’ solution will be used by the US-headquartered firm’s UK division to streamline quality assurance processes and reduce the amount of manual checking time whilst increasing coverage across calls.
Aveni’s AI-powered solution uses advanced technology to automate compliance monitoring and identify potential risks, allowing for a more systematic approach to addressing root issues quickly.
It has helped Equifax increase the efficiency of its end-to-end quality assurance checking process since implementation. Additionally, the ability to access and search all recorded information from one central source enables the team to focus on other analytic tasks, including gaining a better understanding of customers.
Elizabeth Chapman, VP Operations, transformation and change at Equifax UK, said: “Ongoing cost of living pressures and an escalating digital threat environment are driving the need for more and more sophistication in customer services to help consumers navigate credit queries and live their financial best.
“Aveni’s AI-powered technology is already helping us to support quality assurance across our customer interactions and helping to identify customer vulnerabilities and enhance our support mode. We look forward to continuing to leverage this technology and draw on this strategic partnership to help boost customer outcomes.”
Joseph Twigg, CEO, Aveni, said: “The AI transformation in financial services is underway. Equifax recognises the technology’s potential to drive both daily operational productivity improvements, whilst helping to meet strategic business goals and compliance requirements.
“Our partnership with Equifax UK showcases the capability of AI-driven technology in redefining not just quality assurance, but wider business automation. The results Equifax has achieved so far highlight the ability of our solutions to drive efficiency and accuracy and ultimately allow scalability across a business. We look forward to continuing to work together to build on this success, broadening the scope of automation and helping to set new innovation benchmarks in the industry.”