Cavendish Online, part of Lloyds Banking Group, is aiming to help improve customer experience via artificial intelligence (AI) technology through an agreement with AI fintech Aveni.ai.
Aveni’s generative AI and natural language processing (NLP)-based technology platform will listen to and learn from all customer calls, enabling Cavendish Online to speed up improvements in the quality of advice and service, as well as helping to detect customer vulnerabilities during a call.
While calls will always be led by an adviser, the Aveni system can quickly analyse a full day’s worth of calls, highlighting ways in which service can be enhanced and enabling targeted skills development for advisers, delivering on Cavendish Online’s Consumer Duty commitments.
Rose St Louis, protection director at Lloyds Banking Group and CEO of Cavendish Online, (pictured) said: “Now we can incorporate Aveni’s generative AI into our processes to provide insight which will help us learn and consistently deliver high quality advice and service to our customers.”
Andy Johnston, board adviser at Aveni, said: “We have been selected as an AI-partner because of the solutions-based approach of the Aveni platform, combining financial services know-how, with deep expertise in generative AI and natural language processing.
“The power of generative AI will be a game changer in this sector. We look forward to working together in partnership to explore further solutions.”