Speech Analytics Platform Aveni Bags Key Deal

Key is located in Preston and will use Aveni for monitoring conversations with AI, to support advisor training and oversight processes, and for quality assurance processes. 

Edinburgh-based speech analytics platform Aveni has started the year brightly thanks to a deal with equity release company Key.

Key is located in Preston and will use Aveni for monitoring conversations with AI, to support advisor training and oversight processes, and for quality assurance processes.

The first phase of the rollout has already delivered results, with Key’s quality assessors able to conduct call assessments in less than half the time due to the platform’s intuitive search options.

Will Hale, CEO of Key, explains: “This partnership will allow us to drive greater transparency and oversight, and help us to better identify vulnerable and other high risk customers, all of which contribute towards ensuring the best possible outcomes for our customers.”

According to Key, recent guidance from the Financial Conduct Authority stipulates that firms must act to understand the needs of vulnerable customers and make sure they are treated fairly.

Key points out that historically, identifying customer vulnerability or those who are at high risk has been the role of an agent, requiring them to flag a potential issue for further investigation.

By using Aveni to monitor all its conversations with customers, specific keywords and phrases can be automatically flagged and routed to the compliance team at Key for review.

For example, certain topics mentioned in conversations with an agent, such as a bereavement or illness, may be indications that a customer is potentially vulnerable and requires support from one of Key’s employees.

Using natural language processing (NLP) technology, Aveni says it can customise its platform for its clients – drawing on information about their customers, culture, products and processes. For instance, in the banking sector, a customer is generally considered potentially vulnerable when over the age of 65. However, given Key’s focus on retirement finance, this would pertain to a majority of its customers, so it has configured Avenii to monitor for different criteria.

Founded in 2018, Aveni offers a range of product features, including automated compliance monitoring, and performance management of call centre agents and advisers. Last month, the firm featured in our ‘Eight Fintech Companies in Edinburgh to Watch’ here.

Key celebrated its 22th anniversary last year, and the group has helped customers release more than £5 billion worth of equity from their properties. It has 600+ staff and is “one of the largest private employers” in Preston.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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