Northland adviser launches next-gen chatbot

Northland mortgage adviser Quantum Financial has launched an artificial intelligence “chatbot” to handle customer enquiries, becoming one of the first Kiwi advisers to use AI.

Tuesday, May 22nd 2018, 4:20PM

by Dan Dunkley

Quantum has introduced a chat system on its website that links to Facebook Messenger, engaging with customers and gathering information. The chat system helps to collect information and documents to begin the loan application process.

The AI system, launched with help from Australian software company Mana Social, was rolled out over the past three weeks. Quantum has also launched a social media campaign to encourage potential customers to apply online.

Quantum’s Malcolm Shepherd described the campaign as one of the first in the New Zealand adviser market.  He said the chat system had “revolutionised” the way it did business, and had already increased conversion rates: “This is the way the industry is moving. Because of social media and the technology we are using we are able to service everyone in New Zealand. About 70% of the deals we do now, we haven’t even met the client.”

Shepherd adds: “It is like having another sales person who works after hours. It is pretty cool, you can go home for the evening, come in, and there are leads in your inbox. It is a whole lot better than just getting a name and number.”

Shepherd says the new system has cut the number of wasted meetings: “We want to use this technology before we commit to an appointment time. With the technology in place, we can work out if a customer is wasting our time or shopping around. We are able to process a hell of a lot more. We can have a small team and produce some very high numbers. The leads are coming to us without us having to leave the office.”

Quantum's move comes as advisers look beyond face-to-face meetings and use new technology to bring in customers. In December, Squirrel Mortgages launched a bot to tackle questions that would have previously been put through a mortgage calculator.

Tags: technology

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