AI-powered recommendation engine for increased customer engagement & digital customer experiences
ABAKA’s AI-powered Next Best Action is an AI-recommendation engine helping financial institutions deliver hyper-personalized engagements to their customers and build a truly customer centric ecosystem across their range of products and services.
Harnessing the power of machine learning and behavioural persona segmentation, ABAKA’s AI-powered Next Best Action augments customer data with other sources of data to predict and deliver the relevant Next Best Action to the right customer, through the right channel, at the right time.
ABAKA’s library of modular applications helps enterprise clients power hyper-personalised and behavioural nudges, big data insights, conversational AI, financial dashboards and outstanding customer experiences.
Major financial institutions including HSBC and Prudential license ABAKA's technology to 10+ million customers who receive ABAKA's hyper personalized recommendations on products such as credit cards, loans, savings, retirement, life and non-life insurance.
1) Intelligent Behavioural Nudges: machine learning models to identify persona segmentation, power personalized insights and nudges to increase engagement and up-sell opportunities, across digital channels
2) Conversational AI: on retirement, savings and investments, for both fully digital and hybrid advice. The proprietary Natural Language Processing models take vast quantities of user behavioural and financial data to intelligently manage a human like conversation
3) Digital financial dashboards & account consolidation service: a fully supported asset consolidation service (advised and non advised, with advisors support), including data aggregation technology powering Open Banking, Retirement & Saving dashboards, Account Tracing and consolidation services
4) Financial Planning Engine: retirement planning, cash flow modelling, de-cumulation scenarios, suitability assessment, Monte-Carlo simulations for outcome & scenario driven advice
Results and Success Metrics
• Increased engagement by 500%
• 38% increase in Net Promoter Score
• Increased product conversion from 3% to 31%