Unique, End-To-End Approach to Conversational Commerce and AI Creates a “Seamless Experience,” Says Leading Industry Analyst Firm

Following a review of conversational artificial intelligence (AI) in the financial services space, Frost & Sullivan awarded its 2018 Global Customer Value Leadership Award to LivePerson, in recognition of its unique, end-to-end approach to deploying conversational commerce and AI in brand-to-consumer communication.

Some notable conclusions from Frost & Sullivan, which led them to present the award to LivePerson:

• The solution “substantially improves the consumer experience by eliminating the need to access apps, execute multiple actions, or make calls to contact centers.”
• The solution supports a wide variety of messaging channels, including SMS, Facebook Messenger, WhatsApp, Google RCS Business Messaging, Amazon Alexa and other popular messengers and voice assistants.
• The ability of the solution to integrate with enterprise systems, bot and Natural Language Understanding (NLU) technologies.
• An ability to scale automation within large contact centers in part with software tools that transform customer care and sales agents into bot managers who supervise and improve automation.
• Tools that can “easily be used by even non-technical staff” to extend the sophisticated and often substantial investments IT organizations have already made in AI, such as the underlying NLU systems.
• An overall orchestration of these technologies into a single system, “improving net promoter scores (NPS) and consumer experience”

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As a global leader in conversational commerce, LivePerson has built a platform that the largest brands in the world, including Citibank, HSBC and other leading financial institutions, use for messaging.  By switching old-fashioned voice calls or website interactions for conversational experiences – far preferred by consumers – LivePerson has allowed financial services institutions to improve customer satisfaction.

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“We’re delighted to receive this prestigious award for the work we, together with our innovative financial services customers, have done to bring conversational banking to life for consumers,” says Manlio Carrelli, EVP Enterprise Business at LivePerson. “Digital was mostly about self-service, but conversational banking is about a new relationship with the consumer. What are the possibilities when you are connected over an ongoing conversation, right on the consumer’s mobile device and in the messengers and voice assistants they use everyday. Our customers are changing what it means to be a bank, in addition to improving the consumer experience far beyond what is possible over the phone, web or apps.”

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Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.