Specifically, this collaboration introduces advanced generative AI solutions aimed at streamlining traditional support and employee training processes, with the goal of enhancing member and employee experiences.
Using large language models (LLMs) specifically created for CFIs, Eltropy's generative AI tools aim to optimise engagement strategies for community banks and credit unions, a goal shared by Magnifi. According to Magnifi Financial officials, the implementation of Eltropy's AI chat solutions has yielded notable outcomes. Moreover, the efficiency and personalisation brought about by Eltropy's technology were cited as key factors contributing to the success of their digital transformation journey.
Eltropy's ‘Employee Assistants’ play an important part in this transformation, enabling contact centre agents and customer-facing personnel to access verified knowledge and automate tasks seamlessly. The member-facing ChatGPT-style agents were designed to improve service efficiency, reduce wait times, and reduce the workload for credit union call centre agents, allowing for resource allocation to more complex interactions.
Representatives from Eltropy emphasised the alignment of Eltropy's generative AI tools with industry trends and the growing demand for personalised and efficient member interactions. In the context of economic challenges and staff shortages, Eltropy's tools have the potential to help CFIs to accelerate employee knowledge training, improve member experiences, and support growth.
Eltropy's efforts to advance generative AI come in the context of an evolving landscape of credit unions, ensuring their competitiveness in the financial sector. To explore the applications of generative AI for credit unions, the company has put together a series of webinars titled ‘Beyond Limits: Transforming Member Experience with AI,’ which are scheduled to take place between 18 and 20 December 2023. Interested participants can register for the sessions.
Eltropy is a digital conversations platform for CFIs, offering AI-driven communication tools to enhance operations, engagement, and productivity while maintaining high standards of security and compliance. The platform allows CFIs to connect with consumers through various channels, including Text, Video, Secure Chat, co-browsing, screen sharing, and chatbot technology, all integrated into a unified platform.
In November 2023, Eltropy integrated with Portico from Fiserv to enhance engagement and streamline the experience for credit union members and customers. As a result of this collaboration, credit unions gained the option to leverage Portico to access Eltropy's suite of services.
Additionally, the partnership introduced a nightly member sync-up feature exclusively provided by Eltropy. This feature allowed credit unions to import member data into Eltropy's platform, offering comprehensive insights and a unified perspective of member interactions.
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