AI solutions empowering NBFCs

Sourabh Gupta, Co-founder & CEO, Skit.AI.

Today, NBFCs are confronted with the challenges of escalating costs of maintaining a customer support team and infrastructure, breach of compliances, errors, and their inability to instantly respond to customers. The intensifying competition is compelling companies to think beyond digitisation, RPA, and into the realm of AI to fortify their competitive edge.

Voice AI is one such emerging AI technology NBFCs must explore. It is the most effective way to contact center automation, as Voice AI-enabled virtual agents can speak with customers, striking intelligent human-like conversations that solve customer problems without waiting in lines.


The agents are available 24/7, and can handle any surge in call volumes error-free. There is no need to maintain a large support team for peak season. Also, an intelligent voice agent can automatically switch to every customer’s preferred language and can deliver consistent brand experiences, enhancing CX.

Voice AI is the only technology capable of answering customer queries independent of a human agent. By handling simple calls and only escalating complex ones to human agents, the technology augments agent productivity.

With over billions of customer contacts done by NBFCs, the scope for voice automation is enormous. Voice AI solutions also empower companies to reach out to thousands of their present and prospective customers concurrently, adding new customers and accelerating sales cycles. Thousands of potential customers can be reached out for trading accounts, insurance policies, and more; prompt reminders help engage the existing ones.

There is a difference; unlike many AI applications, voice AI can be deployed as quickly as 2 weeks, while custom applications take up to 6 weeks. Such rapid and easy deployment makes results easily visible. Unlike many digital transformation initiatives, Voice AI does not rock the organisational boat. It can quickly transform your customer support without disrupting any other department.

Also Read | AI solutions as an essential factor for digital transformation for BFSI

Has the technology matured enough for NBFCs to leverage early bird advantage? Yes! Voice AI has evolved, and the proof is in the pudding, in its quick deployment and conspicuous outcomes. And as with any AI application, early birds benefit from continuously training their algorithms that improve their performance. These constant improvements put companies ahead on the learning curve and enjoy sustainable competitive advantages.

Views expressed by: Sourabh Gupta, Co-founder & CEO, Skit.AI.

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