Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, recently acquired Abe AI which enables Yodlee's new Conversational AI.
Improving the way Financial Service Providers (FSPs) can interact with their consumers, this new offering is now available to be fully integrated with Yodlee's financial wellness APIs and apps, other retail banking solutions, and in the future, Envestnet's wealth management offerings.
Not only do Envestnet | Yodlee's Financial Wellness Solutions allow retail banks and fintechs to provide actionable advice and personalized financial coaching, they now enable these FSPs to capitalize on the rapid mainstream adoption of conversational interfaces enabled by one of the market pioneers and leaders, Abe AI. As a result, these FSPs are able to better engage, support, and assist their consumers leveraging this latest wave of customer-centric capabilities. By delivering a customer-centric experience and greater customer engagement, FSPs can also derive deeper consumer insights that help them become more competitive and profitable.
Using natural language processing specifically tailored to financial services, Envestnet | Yodlee Conversational AI enables FSPs to connect directly with consumers across all major conversational ecosystems, including Amazon Alexa and Google Assistant. The recently acquired Abe AI, and their industry-leading conversational solution will enable consumers to speak naturally and engage in human-like dialogue with their FSP. Consumers will benefit from this state-of-the-art user experience, build better financial relationships with their FSPs, and improve their financial wellness.
"Conversational artificial intelligence will immediately complement our entire Envestnet portfolio, propelling financial data interactions and analytics to the next level," Brandon Rembe, Envestnet | Yodlee Senior Vice President of Product Management, said in a statement. "We believe adding industry-leading intent and entity recognition capabilities to our premiere data aggregation and analytics platform and financial wellness solution will be indispensable to the next generation of consumer financial offerings."
Contributed | what does this mean?