A great customer experience is at the heart of customer loyalty and support – and we all want OUR customers to have that “Wow!” experience. As technology improves there are more and more ways to deliver experiences customers remember and tell others about… even in industries as long-standing and conservative as lending. Bernie’s guest on this episode of Social Business Engine is Basile Senesi, head of sales and support at Fundbox.

As you listen, you’ll hear how Fundbox has taken an innovative approach to providing a solution to a long-standing need in most businesses – access to credit. They do it with both data automation AND the human touch. It’s a winning combination and you’ll hear all the details from Basile on this episode.

The Lending Business Hasn’t Changed Much Over The Years, Until Now

If you’ve ever completed a loan application – personally or for business purposes – you know there are a great many points of data collected about you and your financial situation. The problem is that the lending industry hasn’t evolved much since the 1950s, which means there is a great deal of data about your financial situation that loan applications simply can’t capture.

Bernie’s guest, Basile Senesi highlights how Fundbox challenges traditional underwriting standards by looking carefully at the new sources of info available rather than just credit history and collateral. They do it through AI integration with accounting software, bank accounts, and more. Harnessing the power of AI enables Fundbox to serve clients who may have previously been “unqualified” for funding and provide a tailored customer experience that is nothing short of “great.” Find out more from this podcast conversation.

Getting Into The Middle Of A Business Owner’s Workflow

Much of what businesses need when it comes to cash flow is determined by their daily workflow and procedures. But the evaluation of risk associated with small business lending doesn’t typically take workflow and operational patterns into account at all. That’s why Fundbox is so unique. Through the smart use of AI, the company is able to get into the middle of a customer’s day to day workflow to discover data points about the WAY that customer does their business that will support modern lending decisions.

But there’s more AI can do besides help you get qualified for funding. Imagine what it would be like for your customers to have such a great experience with your company – because the solution you provide is a perfect fit for their needs – that they become an enthusiastic ambassador for your company. AI can make it a reality. Listen to learn how Fundbox is making it happen, and use their experience to stir up ideas for how you can use AI to enhance the customer experience you are delivering.

The Real Power of AI Comes By Pairing It With The Human Touch

Much of the noise you hear about the coming AI revolution in business has to do with the fear that machine learning and artificial intelligence will replace jobs now done by humans. Basile says that while that may be a concern in some sectors, he believes that the smart integration of AI alongside the human characteristic of intuition is a winning combination that will always be of benefit.

In this podcast, you’ll hear Basile describe how that approach works for Fundbox as they provide financing solutions for small business. They are not only able to better analyze credit risks using this AI/Human partnership, they are also able to create better solutions for their customers, equip their team members to use human intuition more effectively because of the data AI provides, and provide a customer experience that is tailor-made to each situation. It’s amazing how well it works, be sure you listen.

AI Is Here To Stay: Learn How To Use It To Enhance What You Do Best

In his closing comments, Basile points out how the growth and development of AI is not going to slow down. His suggestion: Rather than fear the advent of AI, those of us in the business world need to learn how to harness its power to our advantage, to make our human interactions even better because of the efficiency and insight AI can provide.

AI enables us to make better decisions – in Basile’s case, in terms of credit risks and customer needs. AI helps us understand customer needs better so we can create solutions to move their businesses forward. AI empowers product development, marketing, and customer support in deeper, more meaningful ways – especially when coupled with the human touch. Overall, AI makes for great customer experiences, which will fuel success in any industry.

Outline of This Episode

  • [1:51] Small business funding: Fundbox does it in a unique way
  • [2:43] The innovative way Fundbox has approached the lending industry for small business
  • [7:16] Leveraging AI to give Fundbox a competitive edge
  • [13:35] Using the AI available to fuel marketing and product design
  • [20:30] Lessons learned from using AI for marketing and workflow enhancement
  • [23:20] Bernie’s summary of this episode
  • [27:24] AI is here to stay, so use it as a tool to enhance what you do best

Resources & People Mentioned

This episode is sponsored by Conversica, AI software for marketing and sales that fosters real conversations to discover the most qualified sales opportunities. Learn more at http://conversica.com