Meet Budgie
The core of Inicio AI's offering is their virtual agent named Budgie, designed to provide consumers with the necessary support to complete financial assessments without the stress of dealing with a human agent.
This AI-driven tool ensures consistent and accurate data collection, enhancing both customer experience and regulatory compliance. Additionally, the platform includes a benefits calculator to help users identify any additional income they might be eligible for, further easing their financial burdens.
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Delivering affordability assessments
Budgie
A friendly conversational AI virtual agent, specially trained for Income & Expenditure assessments, providing consumers with the support and guidance to complete the self-service support this task without the fear, embarrassment, or inconvenience of waiting to speak to a human agent.
Mobile first solution
Consumers can complete the task wherever and whenever it suits them. Multiple data sources are referenced (including CRA, open banking and references to Standard Financial Statement spending guidelines) to pre-populate and validate entries, resulting in over 80% of people completing the form successfully without needing agent support.
Completely configureable
The I&E platform caters to organisations and their clients, enabling easy creation of tailored customer journeys.
Full Audit Trail
Every interaction (consumer and agent) carries a full audit trail, resulting in a detailed and verified income and expenditure position.
FCA Authorised
The first and only I&E solution authorised and regulated by the Financial Conduct Authority to provide passporting of customer data.
Management Information
Inicio’s Campaign Management tracks customer success, agent
activity, conversion KPIs and identifies abandoned journeys. Real-time MI shows customer engagement, form completion rates, time to complete and benefits calculation results at a campaign level.
API’s
From the built-in benefits calculator which seamlessly checks for any additional income to Open Banking and Credit Bureau Data, the available API’s make data easily integrated on a prepopulated or verifying bases.
Why Wavenet and Inicio?
Wavenet is partnering exclusively with Inicio AI to deliver Budgie, an income and expenditure solution that improves affordability assessments, data quality, and operational efficiency. This collaboration helps customers document their income and expenditure in a convenient and user-friendly way, enabling them to understand their current financial position and take control of their finances.
By combining Wavenet's UK-based managed services and customer delivery expertise with Inicio AI's intelligent assessment platform, we help organisations make faster, fairer, and more cost-effective decisions that positively impact individuals and communities.
Key benefits
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Improved customer experience: The user-friendly Interface of Budgie simplifies the financial assessment process, enhancing customer satisfaction and engagement.
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Immediate value with minimum training: Implement a new system that immediately works and adds value, with little agent training.
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Greater efficiency at scale: Inicio AI Budgie has the ability to handle increasing volumes and improve customer outcomes, without increased overheads.
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Regulatory compliance: The platform ensures that all processes comply with regulatory standards.
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Cost savings: Deliver a more consistent and efficient affordability assessment process, which captures deeper and better quality data, whilst saving you up to 90% of your equivalent agent costs.
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Benefits calculator: Helps users identify additional income, adding practical financial assistance.
Together, Wavenet and Inicio AI deliver a powerful, human-centred solution that streamlines decisioning, protects compliance, and unlocks measurable cost and outcome improvements.