How Are Voice AI-Driven Payment Reminders Helpful for Businesses and Customers?

April 20, 2022   /   by Marco  / Categories :  Business
Business Legions How Are Voice AI Driven Payment Reminders Helpful for Businesses and Customers

It is common to receive a payment reminder call from your bank or credit card company in Australia. It is a courtesy call to ensure that you are aware of the upcoming payment and are allowed to make changes if needed.

However, recently artificial intelligence (AI) has been used for this purpose. There are platforms that offer AI solutions to allow customers to interact with their financial institutions more conveniently.

Here are the benefits of implementing voice AI driven payment reminders for businesses and customers.

Convenience

The speech and voice recognition market will likely grow from $8.3 billion in 2021 to $22.0 billion by 2026.

Customers appreciate being able to receive reminders regarding upcoming payments in a way that is convenient for them. Businesses can send reminders through popular platforms like Amazon Alexa and Google Assistant using voice AI.

It helps customers get the correct information without much effort. For example, a customer could ask their assistant to “add a payment reminder for my electric bill,” and a reminder would be added to their calendar.

Voice AI is convenient for businesses because it can automate reminders easily. It means that many businesses can save time and resources by not having to send out reminders manually.

Business Legions How Are Voice AI Driven Payment Reminders Helpful for Businesses and Customers content 1

Personalisation

If you have a lot of customers, it can be challenging to send out individual reminders. However, voice AI makes things easier. With this technology, you can record a reminder message once and play it for each customer. You can also include the customer’s name in the message so that they feel like you are speaking to them directly. Personalisation helps build trust and increases the likelihood that they will make their payment on time.

Therefore, AI payment reminders are helpful because you can change the message and include other important information, like the amount owed or when the payment is due. In this manner, your customers will have the information they need to make their payments on time.

Efficient and Cost-Effective Method

Automating reminders with voice AI can help businesses save time and money. It can allow companies to keep their customer data more accurate and up-to-date.

Voice AI can also help businesses become more cost-effective with regard to customer service. With the help of voice AI, companies can provide their customers with accurate and timely reminders. And, businesses can reduce the number of customer service representatives they need to hire for the job.

Accuracy

Accuracy is essential for payments, and voice AI can help businesses become more accurate. When a business uses AI for payment reminders, they can ensure that the reminder is sent at the right time and to the right person. This accuracy can help businesses avoid late payments, saving them money. For example, if a customer has a monthly subscription, the business can set up a voice AI reminder to remind the customer to make their payment on time. By keeping track of their payments, businesses can avoid late fees and interest charges.

Conclusion

Voice AI is still a new technology. Businesses should stay updated on the latest trends to remain competitive, and customers should be aware of the potential benefits that voice AI can offer them.

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