LivePerson's Multi-channel, Scalable Conversational AI Solution for the Financial Services Market Commended by Frost & Sullivan

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Mar 12, 2019, 08:06 ET

The platform allows companies to deliver branded experiences to users with the convenience of a social platform

SANTA CLARA, Calif., March 12, 2019 /PRNewswire/ -- Based on its recent analysis of the global market for conversational artificial intelligence (AI) in financial services, Frost & Sullivan recognizes LivePerson, Inc. with the 2018 Global Customer Value Leadership Award. LivePerson enables financial service institutions to communicate with consumers through a conversational interface that works on popular messaging apps such as SMS, Apple Business Chat, Facebook Messenger, WhatsApp, Line, as well as a brand's website and mobile app. The solution substantially improves the consumer experience by eliminating the need to make calls to contact centers or try and answer questions or make purchases through e-commerce sites and self-service portals.

2018 Global Conversational AI in Financial Services Customer Value Leadership Award

"With presence across multiple channels and at a scale that goes beyond virtual assistants or frequently asked question (FAQ) bots, LivePerson offers a differentiated visual context and experience for users," said Deepali Sathe, Senior Industry Analyst, ICT. "Its AI algorithms and capacity management tools can greatly reduce consumer inconvenience caused by call transfer among multiple agents, while its open platform can connect back-end systems. Besides, its automation tools such as Conversation Builder can be easily used by even non-technical staff to build and manage automation."

One of its highly appreciated features is a console that allows contact center agents to function as bot managers. They can supervise discussions with the help of solutions such as the Conversation Manager, which automatically flags a bad experience and aids proactive intervention by the agent. Customers also benefit from the flexibility presented by asynchronous messaging and the ability to integrate their own natural language understanding (NLU) software or bots. Its provision of a variety of pricing models, such as revenue sharing models, traditional usage-based models, and enterprise-wide agreements, further strengthen its value proposition.

LivePerson provides a tool set that enables banks to run bots across diverse endpoints. Its extensive back tooling supports effective workforce management in the context of automation. LivePerson especially excels when it comes to scaling deployments that require the integration of contact centers with broader operations and the enablement of bot managers who can design, edit, and manage automated interactions. LivePerson's focus on improving net promoter scores (NPS) and improving consumer experience appeals to clients, as as they are critical areas of concern for many banks.

"LivePerson has been an early mover in the market, and has developed several novel products that create a seamless consumer experience," noted Sathe. "Its innovation efforts include integration with other bot technologies & NLUs, constant learning from existing and new interactions, operating bots at both front-end and back-end, and having multiple bots supporting a single conversation. Its emphasis on automation and messaging has created a very customer-centric platform that adds value across consumer engagement and communication."

Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognizes the company's unique focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention and customer base expansion.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About LivePerson, Inc.

LivePerson makes life easier by transforming how people communicate with brands. Our 18,000 customers, including leading brands like Citibank, HSBC, Orange, and The Home Depot, use our conversational commerce solutions to orchestrate humans and AI, at scale, and create a convenient, deeply personal relationship — a conversational relationship — with their millions of consumers. For more information about LivePerson (NASDAQ: LPSN), please visit www.liveperson.com.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.

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SOURCE Frost & Sullivan