eGain AI Coach™ for Banking
Consumers are struggling financially
- 36% of Americans would struggle to pay for an unexpected expense of $400 (Source: Federal Reserve)
- 43% of households report that someone lost a job or took a pay-cut because of virus outbreak (Source: Pew Research)
- Millennials, the biggest demographic group, have a net worth that is 40% less than what Gen X had at the same age (Source: Federal Reserve)
Consumers want financial advice but can’t get it
- 78% of US consumers want financial advice (Source: J.D. Power)
- 83% are not able to get such advice (Source: CNBC)
- Financial counseling is expensive and difficult to find
Your customers are crying out for financial advice. Improving their financial health is good for them and good for you. But how do you deliver quality financial advice cost-effectively and at scale, while complying with regulations and not coming across as a product pusher?
What is eGain AI Coach?
eGain AI Coach is powered by award-winning AI and Machine Learning and leverages decades of eGain innovation in digital and knowledge technologies. Infused with your customer’s TransUnion credit data plus counseling best practices from GreenPath, a non-profit leader in financial advice, the automated service provides conversational guidance on strengthening credit, paying down debt, and increasing savings. It engages customers with proactive nudges and continuous coaching. This personalized “coaching” enables financial institutions to provide precise advice and also keep consumers on their wellness track through behavioral nudges and encouragement over time.
Best of all, the service is turnkey. And when we say turnkey, we mean it. You can activate the service in a matter of minutes!
Benefits for the customer
- Discreet, personalized, trusted advice to improve financial health through digital conversations
- Reduces financial stress by 35%, based on user feedback
- Keeps consumers on track through ongoing coaching and motivation
Benefits for the institution
- Boost top line by coaching customers to better financial health
- Deliver quality financial advice cost-effectively and at scale
- Reinforce brand loyalty and differentiate
eGain AI Coach increases access to critical credit education, day or night. Plus, it allows members a safe and private approach to a conversation about credit.
Vice President of Strategic Operations, Denver Community Credit Union
Northland is thrilled to be able to provide the new Virtual Coach to our members. We know our members have a pressing need for financial advice and recognize the value of engaging with them where they are, through technology. The Virtual Coach is a fun, personal, and motivating way to help our members save more money, improve their credit score, make that big purchase, and improve their financial health.
Marketing Director, Northland Area Federal Credit Union
What is eGain AI Coach?
The customized guidance and action plans are rated as achievable by 80%+ of coach users
Leverages GreenPath’s financial counseling expertise and TransUnion’s credit insights
Free of intimidating financial jargon, while ensuring compliance
Uses behavioral techniques to encourage and celebrate progress
Ensures customers stay on the wellness track with messaging reminders