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Jaja Finance launches Gen AI chat assistant

Source: JaJa Finance

Jaja Finance (“Jaja”) has today become one of the first UK fintechs to launch a Generative Artificial Intelligence (Gen AI) chat assistant using Anthropic’s state-of-the-art Claude 3 model family, accelerating the fintech’s journey to becoming the UK’s leading digital lender.

The new service, ‘Airi’, uses Amazon Bedrock, a fully managed service from Amazon Web Services (AWS) that offers a choice of high-performing foundation models (FMs), to access Claude 3 models, offering increased intelligence with near-human levels of responsiveness and improved data accuracy. Jaja projects that 'Airi' will reduce average customer response times by over 65%, allowing customers to get answers to their queries much faster than before, freeing-up Jaja teams to spend time on more complex queries fielded by the chat assistant.

Jaja is using this advanced technology to achieve its commitment of helping customers use credit better by enhancing customer interactions and significantly reducing customer response times through its in-app customer messaging centre. With 'Airi' predicted to handle up to 30% of routine customer enquiries, Jaja's customer service teams are expected to have 30-40% more time available to focus on complex, high-value customer interactions that require human expertise. This is critical as Jaja pursues its ambitious growth plans.

Jaja customers can use ‘Airi’ to access a broad range of self-serve options with 24/7 availability, whether it’s managing general statement queries or discussing payment options. By using Claude’s natural language and summarisation capabilities, ‘Airi’ will also allow customers to reply to conversations at their own convenience, while providing them with a full transcript of their conversation.

Dave Chan, CEO at Jaja Finance, said: “As a digital lender we’re already employing sophisticated data models and advanced technologies to ensure we’re giving our customers the tools they need to manage their credit well. Adding an intelligent generative AI assistant like ‘Airi’ will help us unlock the power of advanced AI for our customers, while ensuring their financial health and wellbeing.

“Our work with AWS and Anthropic is yet another step in our commitment to becoming the UK’s leading digital lender, while making credit simple, accessible and easy to use for our customers.”

Tanuja Randery, VP, EMEA at AWS said: “We are proud to help empower customers like Jaja Finance by offering them a broad choice of industry-leading models, capabilities and enterprise security they need to quickly build and deploy generative AI applications. By building ‘Airi’ on Amazon Bedrock, with the latest large language models from Anthropic, Jaja Finance can leverage the full potential of generative AI to reimagine user experiences, and accelerate their mission to become the UK’s leading digital lender.”

The launch of ‘Airi’ means that Jaja can harness the power of AWS’s Gen AI and machine learning capabilities to further drive unrivalled innovation and build AI-powered solutions that can easily scale to create even more superior customer journeys.

By building with Claude 3 models on Amazon Bedrock, Jaja will be able to utilise the language model’s latest capabilities and provide customers with a superior experience while simultaneously reducing cost, increasing speed and enabling the fintech’s ambitious growth plans. Jaja’s use of Claude 3 Sonnet further enhances the powerful AI and machine learning technologies already deployed within its customer management models, credit decisioning and affordability assessments.

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