Flaist unveils new analytics tool that foresee the future of customer behavior

By Pavithra R

FinTech startup Flaist has unveiled a new analytics tool powered by the Flaist Digital Experience platform allowing financial organizations to better understand the contexts of their customers’ intentions and sentiments.

The new tool allows banks and financial institutions (FIs) to predict future customer behavior and adapt their responses to customers using analytics. The new analytics is expected to save financial groups time and money, while also allowing them to serve their customers better.

Flaist analytics detects sentiment enabling improved customer service. It can detect customer sentiment in real-time to help FIs recognize any dissatisfaction with services, enabling higher-quality responses to customer complaints.

“These analytics give all financial organizations an advantage with customer service. Banks can now better understand customer insights and identify how to respond to customers before the transaction even occurs,” said Krish Gopalan, Founder and CEO of Flaist.

Flaist analytics also determine the context of a customer’s needs and advise FIs on how to achieve optimal customer satisfaction. 

“Knowing the customer’s context is critical for a financial institution’s success. Collecting data on the customer’s preferences and needs can also help financial organizations understand the context of their demands. If they know why the questions are being asked, they can ensure better responses,” added Gopalan.

The new tool is part of the Flaist Digital Experience platform that offers a wide range of AI-as-a-Services APIs and Microservices that have been purpose-built for Banking use cases. The plug and play solution dwindles the development time for the banks hastening the speed to market to provide an enhanced customer experience across digital platforms.

“The introduction of our new analytics in the banking industry can now help banks understand the intentions and the sentiment of their customers, to provide a very personalized experience to each individual. When most customers call their banks, they’re met with unfriendly and cold automated messages, but with the analytics, the customers would feel at ease and stay confident that their banks understand their needs better. These analytics can reduce customer service IT costs by up to 25 percent, while also increasing loyalty and revenue,” said Eagan, former Managing Director with JP Morgan and Lehman Brothers and now Goto Market Advisor for Flaist.

Founded in 2020, Flaist is a Silicon Valley-based FinTech startup on a mission to democratize the digital transformation process for Banks and Financial Institutions through technology.