About Customer
Tricolor Holdings established in 2007 is a technology-driven financial services company specializing in providing credit to underserved Hispanic consumers in the United States. Through a vertically integrated model, the company offers affordable financing options for certified vehicles, aiming to enhance the quality of life for its clients. Tricolor operates its retail auto sales and lending platform to assist credit-invisible consumers in building credit histories. Headquartered in Dallas, Texas, Tricolor, along with its affiliate Ganas Auto Group, operates 55 retail centers across over 20 markets in Texas, California, Nevada, Arizona, and New Mexico.
Customer Objectives
- High Call Volume: The Loan Servicing team handles a large number of inbound and outbound calls related to payments and queries, leading to long wait times and operational inefficiencies.
- Manual Payment Collection: Agents manually process payments, increasing the risk of errors, delays, and security concerns
- Limited Agent Availability: Customer queries often go unanswered during peak hours or outside business hours, impacting customer satisfaction
- Integration Needs: The payment collection process requires secure and seamless API integration with existing payment gateways.
- Language Barriers: A significant portion of Tricolor’s customer base consists of Spanish-speaking individuals, necessitating bilingual support.
Our Solutions
Floatbot.AI successfully deployed Cloud-based Voicebot for Tricolor Holdings. This Voice AI based solution was integrated with their Payment Systems & Five9, supporting quick Payment Collection & Customer Support for General Queries.
- AI-Powered Calls for Payment Collection with User Authentication
Floatbot’s Voicebot helps Customers with payment processing of due payments by enabling them to complete transactions via a secure API integration with Tricolor’s payment systems. Users are authenticated using Security Questions.
- 24/7 Self-Service Assistance for User Queries
The Voicebot handles common inquiries such as payment due dates, loan balance, and account status without agent intervention. It provides instant assistance, reducing call wait times and improving service efficiency.
- Bilingual Support
By supporting English & Spanish, Floatbot.AI caters to and ensures a better user experience for all customers.
- Live Agent Transfer
If the Voice AI detects a complex issue, it will intelligently route the call to a live agent, ensuring a seamless customer experience.
Technical Challenges
- ASR Issues especially with respect to Spanish
- Continuous changes in Date of Birth & Number Format requirements from Client
- Initial API Failures resulting in Unsuccessful Payment
The Results
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$680K + Payments Collected within 1.5 Months of Launch
The Voice AI helped process & collect more than $0.68 Million within just 1.5 months of launch
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70% + Calls Completed Successfully without Human Intervention
More than 70% calls transferred to Floatbot were handled successfully, which includes Payment Processing as well as Customer Support
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24*7 Availability
enhancing Customer Satisfaction
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