Escala 24x7 has made a significant investment in DANAconnect. Together, they unite forces to drive GenAI adoption on AWS, revolutionizing the financial services industry with AI-powered solutions that enhance efficiency and customer experience.
WESTON, Fla., July 14, 2024 /PRNewswire-PRWeb/ -- One of the greatest challenges for financial institutions and insurers is adopting Artificial Intelligence (AI) and intelligent process automation to increase sales and reduce costs. In response to this need, Escala 24x7 and DANAconnect have teamed up to offer clients the ability to implement cutting-edge technologies quickly, with accelerated returns on investment powered by AI on Amazon Web Services (AWS).
To solidify this alliance, Escala 24x7 has made a significant investment in DANAconnect. This investment enables a winning strategy based on Artificial Intelligence that sets them apart as leaders in cloud service offerings for organizations in the financial and insurance industries.
The outlook for 2024 is encouraging, with a predicted 5% growth for the entire IT industry in Latin America. According to the International Data Corporation (IDC), by 2027, the top 5,000 companies in Latin America will allocate more than 25% of their basic IT spending to AI initiatives, leading to a double-digit increase in product and process innovation rates.
Secure, Efficient, and Automated Digital Interactions with AI
Escala 24x7 is AWS's most experienced partner in using AI in technology services for the financial sector, and DANAconnect is the leading software-as-a-service company in Customer Communication Management (CCM) from a business perspective for this industry in Latin America. Understanding the challenges and obstacles for this industry, Escala 24x7 and DANAconnect have designed tailored solutions that help banks and insurers automate processes and securely and efficiently manage digital interactions, while creating exceptional digital experiences for their clients, increasing sales and renewals of financial products, and reducing the costs associated with contacting and processing operations.
"Our platform and Escala 24x7's cloud expertise are the perfect complement. Escala 24x7 brings its deep knowledge of the AI components offered by AWS, and DANAconnect provides its extensive business-oriented AI expertise. This way, we accelerate the development of solutions for specific cases for banks and insurers, which are already being implemented for clients," said Paul Kienholz, CEO of DANAconnect.
This investment from Escala 24x7 in DANAconnect addresses the business needs of financial institutions with a winning formula that combines expertise in cloud services for the banking and insurance industry, business process automation, and GenAI.
Currently, one of the most in-demand solutions in the financial sector is identity validation using Artificial Intelligence (AI). Biometric video signatures and real-time document verification significantly improve operational efficiency. By automating and streamlining the identity validation and document authentication process, the time and costs associated with onboarding, product renewals, and new sales are reduced, facilitating a smoother experience for both clients and financial institutions.
Other solutions include personalized message creation, automatic payment reminders, customer satisfaction surveys, and offering additional products or services to clients based on their profiles, needs, and consumption expectations, thereby enhancing communication, making it more personalized, relevant, timely, and efficient.
"Generative Artificial Intelligence is not something we will see in the future; it is the reality of the moment, a technological turning point, and the gateway to innovation, growth, and business success. The synergy between Escala 24x7 and DANAconnect allows us to build solutions on AWS for our over 400 clients, with solid and proven returns on investment, based on cutting-edge services," said Ignacio Perez, Chief Revenue Officer of Escala 24x7.
"We already have GenAI cases that we are implementing for clients, such as extracting information from documents like insurance policies and account statements to provide support or assistance responses based on the information in the documents. We also create communication pieces for marketing and business intelligence purposes," added Paul Kienholz, CEO of DANAconnect.
The powerful collaboration between Escala 24x7 and DANAconnect enables the offering of practical AI applications for the financial services industry, such as:
- Accelerating client onboarding through document automation.
- User identity authentication using advanced biometric recognition technologies.
- Identity document validation for all countries in the Americas and text validation in documents of various image and PDF formats.
- Remote signing of legal documents and contracts through biometric signatures, complemented by automatic PDF generation and digital document signing.
- Proof of life verification before approving transactions related to retirement funds, pensions, and insurance.
- Natural Language Processing (NLP) that allows clients to query information contained in PDF documents via voice or text commands.
- Enhanced client experience through AI and NLP-powered chatbots, providing immediate and accurate responses to client inquiries and requests.
- Generating highly personalized and relevant content for marketing communications, enhancing cross-selling and upselling opportunities.
All these solutions are integrated into a single low-code automation platform, facilitating omnichannel communication, efficiently managing communications through channels such as email, SMS, WhatsApp, automated calls, among others.
"In addition to promoting the use of GenAI on AWS for the financial services industry, our alliance aims to improve the end-client experience for banks and insurers, increasing their sales and reducing costs. All this while accelerating the digital transformation of this industry with personalized and scalable solutions, ensuring greater operational efficiency, regulatory compliance, and a permanent focus on innovation," concluded Ignacio Perez, Chief Revenue Officer of Escala 24x7.
About DANAconnect
DANAconnect is a Customer Communication Management (CCM) platform designed to automate and streamline customer interactions for banks, insurers, and companies in the financial ecosystem. It addresses clients' needs with AI-powered solutions. Every month, DANAconnect sends at least one communication to 10% of the population of the Americas, showcasing its market leadership and ability to handle large volumes of transactions effectively and efficiently through an omnichannel solution.
About Escala 24x7
Escala 24x7 is a cloud initiative accelerator, Premier Partner of Amazon Web Services (AWS), winners of the AWS Partner of the Year award for two consecutive years (2022 and 2023), with over 12 years of experience, 12 AWS competencies, clients in 19 countries, a team of professionals with over 300 certifications, and more than 1,000 successful implementations in companies across Latin America. Experts in designing, implementing, operating, supporting, and optimizing environments on Amazon Web Services (AWS), guaranteeing agility, security, and cost savings in the services they provide to their clients. More than cloud service providers, they are growth, innovation, and transformation allies for organizations.
Media Contact
Fabiana Arroyo, DANAconnect Corp., 1 5144243782, [email protected], https://www.danaconnect.com
SOURCE DANAconnect Corp.
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