Riverty Partners with Parloa to Enhance Customer Experience with AI Voice Assistant

Riverty Partners with Parloa to Enhance Customer Experience with AI Voice Assistant

(IN BRIEF) Riverty has partnered with Parloa to deploy a 24/7, multilingual AI Voice Assistant for its debt collection services. The AI system is currently handling over 30% of inbound calls, with 15% of them resolved autonomously, reducing call handling times by 10% and wait times by 50%. Using the GPT-4 Generative AI Language Model, the assistant manages financial inquiries and payment arrangements, allowing expert agents to focus on more complex cases. Following the success of a pilot program, Riverty plans to expand the AI solution across its entire German operation in 2025, with international growth to follow.

(PRESS RELEASE) BERLIN, 17-Dec-2024 — /EuropaWire/ — Riverty has formed a strategic alliance with Parloa, a pioneer in AI-driven automation for customer service, to enhance its debt collection services. The partnership introduces the 24/7, multilingual Riverty AI Voice Assistant, designed to handle routine inquiries and direct more complex cases to Riverty’s expert agents. By integrating AI into its operations, Riverty aims to streamline processes and improve the consumer experience, helping individuals regain control over their finances.

Currently, the AI Voice Assistant is handling over 30% of inbound calls, with 15% of these calls fully resolved through automation. The solution reduces call handling times by 10%, enabling Riverty’s experts to dedicate more time to offering personalized advice. Early data shows a remarkable 50% decrease in consumer wait times, underscoring the efficiency of this AI-powered system.

The AI Voice Assistant, which leverages the GPT-4 Generative AI Language Model and advanced intent recognition, is capable of processing financial inquiries, explaining terms, and managing entire payment arrangements via conversational dialogue. It ensures that Riverty’s highly skilled agents can focus on more sensitive, complex debt collection cases, providing tailored support where it’s most needed.

The partnership builds on the success of a pilot program in Germany, with support from KINOVA, a service provider that helps Parloa’s clients implement AI solutions effectively. The trial achieved a 10% reduction in call handling times over just four months, as well as a 50% drop in call waiting times. With over 15% of inquiries being resolved autonomously, Riverty now plans to extend the deployment across its entire German debt collection operations by early 2025, with an international expansion to follow.

Hendrik Finke, Operational Process Excellence Lead at Riverty, commented on the company’s AI approach:
“At Riverty, our strategy revolves around human-centric AI. In an industry as highly regulated as ours, we leverage decades of expertise, cutting-edge technology, and data to ensure compliance while enhancing customer service. Our AI Voice Assistant is an ideal solution for handling financial inquiries, as it combines the empathetic nature of voice interaction with the efficiency of automation, allowing our agents to focus on complex cases requiring personalized care.”

Parloa’s AI voice platform creates natural, human-like conversations, offering a superior customer experience compared to traditional interactive voice response (IVR) systems. According to Malte Kosub, CEO of Parloa, the financial industry’s need for discretion, privacy, and empathy makes AI a powerful tool in meeting customer expectations:
“Riverty’s adoption of our platform highlights their commitment to utilizing innovative technology to address customer needs while ensuring compliance. By using GenAI, we’re able to deliver personalized interactions that meet individual customer requirements, allowing human agents to focus on meaningful, strategic engagements.”

This partnership marks a significant step in the evolution of AI-driven customer service within the financial sector, with Riverty continuing to prioritize human-centric AI solutions for an improved consumer experience.

About Parloa 

Parloa is a leading AI company for the automation of consumer service. Parloa’s platform unites humans and AI in one team to take companies’ service quality to a new level through AI-based consumer service, natural-sounding conversations, and outstanding service experiences on the phone and all communication channels. The Parloa platform resolves the majority of consumer queries quickly and automatically, allowing contact center agents to focus on complex issues. Parloa was founded in 2018 by Malte Kosub and Stefan Ostwald and today employs about 250 people in Berlin, Munich, and New York.

www.parloa.com

About Riverty

Riverty, the fintech arm of Bertelsmann, supports thousands of merchants and over 28 million consumers by processing more than 80 million transactions monthly. Offering flexible payments, debt collection, and smart accounting solutions, Riverty empowers businesses and consumers with cutting-edge financial services. With a dedicated team of over 4,000 employees across 11 countries in Europe and North America, Riverty is a leader in delivering comprehensive financial solutions.

Media Contact:

Kristina Hunter Nilsson
Global
Corporate Communications Lead & Spokesperson
press@riverty.com

SOURCE: Riverty