Em Conversa looks to uncover the secrets in Latin America (LatAm) that have caused the fintech market to boom, from being worth less than $50million in 2016, to $2.1billion in 2022.
This week, we spoke to Max Kreimerman, CEO and founder of Alloxentric, the communications platform based on artificial intelligence (AI). In June, Alloxentric expanded to the UK with the support of ProChile Global X, a soft-landing program for Chilean companies willing to expand towards Europe and the UK. Following this, we reached out to Alloxentric to find out why AI and advanced CX analytics are the key to developing the finance, HR, health and retail sectors.
Can you tell me more about the company and your role within it?
We are helping companies to improve the way they interact with their customers. The best way to reach out to customers is through the channels they prefer. The most efficient method is to use artificial intelligence in the process.
Our AI communications and CX analytics platforms integrate voice and text to design and evaluate the best contactability strategies in an automated, multi-channel, and affordable approach.
Alloxentric provides powerful tools for the holistic and continuous improvement of the customer experience via the channels through which they contact your company or institution.
The virtuous cycle begins with the omnichannel communication platform, which integrates voice, text, and artificial intelligence to interact with customers and users in their preferred channels. It does so by consolidating all these interactions on a single screen. After that, the CX platform analyses the effectiveness of those conversations and identifies opportunities for improvement such as quiet times and customer adherence in real or delayed time.
As a founder and CEO, I feel proud about being part of the AI revolution with Alloxentric.
As a customer, I realised there is room for improvement in the interaction with clients or users. Since then, my drive has been working with companies and organisations on assessing their business processes and developing a cost-efficient plan to exponentially improve them.
What are some customer experience trends we’re seeing in Chile?
Chileans are becoming more and more comfortable with interacting with bots through asynchronous communication channels such as WhatsApp or Discord. Older, more traditional channels, such as phones, are increasingly avoided.
They have discovered how convenient it is to contact a company, answer recruiting questions or solve an issue with a bot. Afterall, the bot can still transfer them to an agent if needed.
In addition to being available for their customers when they need them., companies and organisations are bringing in these new technologies to automatise processes. We witnessed something very similar at our Mexican branch and also here in UK.
Interacting with companies through different communication channels, usually the same as those used to chat with friends and family, is definitely a trend which is expected to continue growing.
What is Alloxentric doing to improve the customer experience sector in Chile and LatAm?
Alloxentric is not only providing communication platforms such as chatbots and voice bots, but it is also advising companies on how to automate critical business and communication processes with AI. Repetitive tasks are iconic examples. Voice bots can target thousands of prospects in less than 60 minutes, allowing agents to focus on those interested in doing business.
But our most successful service both in the Mexican and Chilean markets, is CX analytics. We believe a better experience leads to a higher conversion rate and greater profits. With CX Analytics, the automated quality control of communications from agents and bots, these goals can be achieved.
How does Chilean customer experience compare to that of the rest of the world?
Latin American people are known for being social. When somebody receives a good service, the word is quickly spread. But when something goes wrong, spreading the word is even faster. Any company properly managing its social networks will easily become aware of service problems. They have the unique opportunity to improve the experience or solve the problem in a timely manner.
Chile has a remarkable government organisation called SERNAC (Servicio Nacional del Consumidor). It regulates consumer rights and fulfils the ombudsman role. They work with local chambers of commerce to improve customers’ experience and define best practices, having a great impact in this field.
Finally, Chile as well as other LatAm countries, has been releasing new regulations in order to prevent collection harassment and other malpractices conducted by phone calls. Companies are turning to text-based platforms to avoid potential liabilities.
What are some unique challenges associated with Chile and LatAm in the customer experience space?
In Latin America, we all speak Spanish, but that doesn’t mean we understand each other. The same word can have different meanings across countries; different countries say hello using different words, and so on. We all have different accents, local slang, and speaking particularities. As you can infer now, language localisation is a must in this region.
Another challenge is the technology adoption curve. It differs between countries and also between the cities. Latin America follows US and European trends but bringing them to local markets may take two to three years until they reach maturity.
At the moment, one of the fields that’s growing interest is internal customer/employee support. Technology including text summarisation and classification, can help companies to automate processes from end to end.
Plans for the future
Our technical roadmap comprises of three major improvement areas.
- The first one is model improvement. We already have teams working on new and better TTS, STT, text classification and summarisation models.
- In parallel, another task force is working on new and advanced business cases.
- Meanwhile, the third team is focusing on developing the omnichannel communication and CX analytics platforms.
On the sales side, we are exploring Spain and UK for further expansion.
This is a great moment to be alive. AI is opening a wide range of opportunities in almost every field. We, at Alloxentric, are thrilled to pursue those opportunities and continue supporting companies in their business transformation based on process and communication automation.