This week’s version of Finovate World takes a take a look at one of many revolutionary fintech firms headquartered in Estonia: Ender Turing. The agency, which makes a speciality of voice dialog intelligence and automation, made its Finovate debut earlier this 12 months 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 heart software program. Collectively, the crew fashioned Ender Turing and have since launched Ender Turing AI Speech Analytics. The brand new resolution robotically analyzes and assesses the communication content material between monetary establishments and their clients. This helps FIs improve the client 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. Under are her responses to our questions.
Learn extra about fintech in Estonia on this Finovate World column from earlier this 12 months.
What drawback does Ender Turing remedy and who does it remedy it for?
Olena Iosifova: Eight hundred million voice conversations are recorded day by day in Europe and plenty 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 day by day enterprise customers are customer support, gross sales, and assortment departments. However advertising and product groups additionally get worth from making shopper’s analysis proper on our platform.
How does Ender Turing remedy this drawback higher than different firms?
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 shopper to realize the best accuracy. Our machine studying pipelines are very environment friendly, and we will fine-tune speech recognition at no cost.
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 main clients? How do you attain them?
Iosifova: Our main clients come from monetary business. These are banks, debt assortment companies, and different monetary companies firms. However we even have shoppers within the public sector and in healthcare.
Direct outreach is our primary channel of getting observed by potential clients – in addition to our partnership community. We cooperate with system integrators and name heart software program distributors and provide added worth to their buyer base.
Participation in conferences serves as an ideal supporting contact.
Ender Turing CEO Olena Iosifova demoing Ender Turing AI Speech Analytics at FinovateEurope 2023.
Are you able to inform us a few favourite implementation or deployment of your know-how?
Iosifova: We’ve two nice examples of our know-how implementation. One is OTP Financial institution, and one other is Creamfinance Group.
In OTP Financial institution it began with the decision heart 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 take pleasure in.
With Creamfinance Group, the perfect indicator of nice enterprise outcomes is that after implementation of their headquarters in Poland, we now serve additionally their workplaces in Spain, Mexico, and the Czech Republic.
What in your background gave you the boldness to answer this problem?
Iosifova: Three founders in Ender Turing have optimistic expertise and abilities in synthetic Iitelligence R&D, enterprise administration, and a ardour for constructing extremely performing groups. We take pleasure in analyzing our potential clients’ methods and market tendencies to foresee the challenges they may face within the subsequent three to 5 years. With fixed improvements inside our R&D, we construct our product to ship worth for right now and the long run.
What’s the fintech business like in Estonia? How do conventional monetary establishments deal with Estonian fintechs?
Iosifova: Other than the massive title in fintech, Sensible, coming from Estonia, different thrilling fintechs are rising right here. To call a number of – Grunfin, Scrambleup, Tuum, Salv, Montonio.
They associate with conventional monetary establishments actively. For instance, LHV Financial institution is the perfect shopper of Tuum. And Salv is the AML resolution that works precisely in a conventional monetary companies market.
You lately demoed your know-how at FinovateEurope in London. What was that have like?
Iosifova: That is actually a global occasion the place we met firms from all around the world. This was a nice shock. We’ll take part once more.
What are your objectives for Ender Turing?
Iosifova: Our objective is to turn out to be a number-one selection platform for banks and monetary companies firms concerning dialog intelligence and automation, offering the very best quality of service, gross sales dialog price, and restoration price.
What can we count on from Ender Turing over the stability 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 convey 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.
Photograph by Marlene Leppänen