This week’s version of Finovate International takes a take a look at one of many modern fintech corporations headquartered in Estonia: Ender Turing. The agency, which focuses on voice dialog intelligence and automation, made its Finovate debut earlier this yr at FinovateEurope in London.
Headquartered in Tallinn, Ender Turing was based in 2020. The founding crew consisted of two AI researchers with expertise in computerized speech recognition and pure language processing (NLP), in addition to a 3rd member with expertise in enterprise-level name middle software program. Collectively, the crew shaped Ender Turing and have since launched Ender Turing AI Speech Analytics. The brand new answer routinely analyzes and assesses the communication content material between monetary establishments and their clients. This helps FIs improve the shopper expertise, in addition to meet high quality pointers and compliance necessities in areas similar to customer support, gross sales, and debt assortment.
We corresponded with Ender Turing CEO Olena Iosifova through e-mail. Beneath are her responses to our questions.
Learn extra about fintech in Estonia on this Finovate International column from earlier this yr.
What downside does Ender Turing clear up and who does it clear up it for?
Olena Iosifova: Eight hundred million voice conversations are recorded each day in Europe and lots of extra worldwide. A tiny 1% of those conversations are checked for high quality management, worker coaching, and enterprise outcomes enchancment. Ender Turing is a conversations intelligence and automation platform to shut 99% of the dialog hole for enterprise progress.
Our each day enterprise customers are customer support, gross sales, and assortment departments. However advertising and marketing and product groups additionally get worth from making consumer’s analysis proper on our platform.
How does Ender Turing clear up this downside higher than different corporations?
Iosifova: Ender Turing created the fastest-to-value platform that performs in 24 languages. We use a proprietary speech-to-text engine to fine-tune fashions for each consumer to attain the very best accuracy. Our machine studying pipelines are very environment friendly, and we will fine-tune speech recognition totally free.
Additionally, the person interface does all of the system setup for reaching enterprise KPIs. There isn’t a want to attend for the time slot on the IT division to assist a enterprise unit make it.
Who’re Ender Turing’s major clients? How do you attain them?
Iosifova: Our major clients come from monetary trade. These are banks, debt assortment corporations, and different monetary companies corporations. However we even have purchasers within the public sector and in healthcare.
Direct outreach is our major channel of getting observed by potential clients – in addition to our partnership community. We cooperate with system integrators and name middle software program distributors and supply added worth to their buyer base.
Participation in conferences serves as an important supporting contact.
Ender Turing CEO Olena Iosifova demoing Ender Turing AI Speech Analytics at FinovateEurope 2023.
Are you able to inform us a couple of favourite implementation or deployment of your expertise?
Iosifova: Now we have two nice examples of our expertise implementation. One is OTP Financial institution, and one other is Creamfinance Group.
In OTP Financial institution it began with the decision middle customer support division. One month after we began, the debt assortment division joined, seeing nice outcomes. OTP Financial institution noticed tons of of hours of saved time each month for high quality administration, worker coaching, and improved conversion charges – outcomes we mutually get pleasure from.
With Creamfinance Group, the very best indicator of nice enterprise outcomes is that after implementation of their headquarters in Poland, we now serve additionally their places of work in Spain, Mexico, and the Czech Republic.
What in your background gave you the boldness to reply to this problem?
Iosifova: Three founders in Ender Turing have constructive expertise and abilities in synthetic Iitelligence R&D, enterprise administration, and a ardour for constructing extremely performing groups. We get pleasure from analyzing our potential clients’ methods and market developments to foresee the challenges they could face within the subsequent three to 5 years. With fixed improvements inside our R&D, we construct our product to ship worth for as we speak and the long run.
What’s the fintech trade like in Estonia? How do conventional monetary establishments deal with Estonian fintechs?
Iosifova: Aside from the large identify in fintech, Sensible, coming from Estonia, different thrilling fintechs are rising right here. To call a number of – Grunfin, Scrambleup, Tuum, Salv, Montonio.
They companion with conventional monetary establishments actively. For instance, LHV Financial institution is the very best consumer of Tuum. And Salv is the AML answer that works precisely in a conventional monetary companies market.
You latterly demoed your expertise at FinovateEurope in London. What was that have like?
Iosifova: That is actually a global occasion the place we met corporations from everywhere in the world. This was a nice shock. We’ll take part once more.
What are your targets for Ender Turing?
Iosifova: Our purpose is to turn out to be a number-one selection platform for banks and monetary companies corporations relating to dialog intelligence and automation, offering the highest quality of service, gross sales dialog price, and restoration price.
What can we anticipate from Ender Turing over the steadiness of 2023?
Iosifova: Our progress in 2023 will get us to increase to the U.S. and Latin America. However what’s extra fascinating is that we carry real-time agent help to fill the hole between the top-performing brokers and the remainder of the crew and guarantee real-time compliance monitoring in each dialog.
