Visa and Intelligence Collaborate on Arabic Conversational AI for MENA Financial Institutions
Visa, a global payments technology company, has joined forces with Intelligence, a manufacturer specializing in artificial intelligence models tailored for Arabic, to co-develop conversational AI solutions specifically designed for the financial sector in the Middle East and North Africa (MENA). This innovative partnership aims to enhance customer interactions and streamline communication processes within corporate contact centers.
Supporting Diverse Arabic Dialects
The collaboration will deliver solutions that cater to over 25 distinct Arab dialects, as announced in a press release on September 23. The rich linguistic variety in the region emphasizes the need for sophisticated AI systems capable of understanding and processing different dialects, thereby providing users with localized experiences.
Transforming Customer Interactions into Valuable Insights
Utilizing Intelligence’s technology, the partnership will analyze customer interactions to convert conversational data into actionable intelligence. This transformation is expected to significantly improve the quality of customer service offered by Visa’s partner banks, as highlighted in the press release.
Empowering Financial Institutions with Data-Driven Insights
Through this collaboration, Visa will access a wealth of insights that will enable financial institutions to enhance compliance, agent performance, and product development. By leveraging data that was previously unstructured, banks can now refine their services to better meet customer needs, setting a new standard in the banking experience.
Unlocking Customer Voices for Strategic Growth
Nour Taher, co-founder and CEO of Intelligence, stated, “We’re not just providing a tool; we’re unlocking the customer’s real voice for the entire regional banking ecosystem.” This collaboration empowers financial leaders to make strategic decisions with unprecedented clarity, driving innovation and growth based on genuine customer feedback.
Comprehensive Solutions for MENA Partners
Basma Berti, Vice President of Visa Consulting & Analytics, emphasized the collaboration’s role in co-developing and enriching conversational AI solutions for partners across the MENA region. This initiative aims to deliver efficient implementation services while ensuring the solutions align with the unique needs of the regional market.
Significant Market Opportunities Ahead
Intelligence recently announced plans to accelerate the deployment of their AI models across the Arabic-speaking world, targeting sectors including finance, telecommunications, and government. Robin Voogd, an investment leader in the Middle East, pointed out the substantial market potential, with over 7,500 companies operating in the region and Arabic being the fifth most spoken language globally.
The collaboration between Visa and Intelligence marks a pivotal step towards revolutionizing customer interactions in the MENA financial sector, setting the stage for enhanced efficiency, growth, and innovation. Financial institutions are poised to leverage these advanced AI solutions to provide superior customer experiences across diverse linguistic landscapes.