Inicio AI

The intelligent way to talk about affordability.

Inicio AI is an innovative solution that leverages conversational AI to guide users through a self-serve affordability assessment. This technology aims to simplify the income and expenditure process, making it less intimidating and more efficient for customers.

Wavenet is excited to announce an exclusive partnership with Inicio AI. This collaboration promises to help 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.

A next-generation conversational AI assistant

Powered by cutting-edge conversational AI technology, this powerful solution seamlessly replicates the experience and support of human interaction, all while eliminating the need for individuals to engage in potentially uncomfortable conversations about what they earn and how they spend their money. By automating this process, Inicio AI not only improves customer satisfaction but also significantly reduces operational costs for organisations, potentially saving up to 90% on agent expenses.

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.

Download our eBook using the link below to find out more.

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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.

Business man looking at his mobile phone and smiling.

Why Inicio?

Wavenet are exclusively partnering with Inicio AI, an income and expenditure solution poised to enhance organisation’s efficiency, data quality, and cost-effectiveness in understanding affordability. Together, we can make a significant impact on the lives of individuals and contribute to the overall well-being of communities.

Inicio AI offers many benefits, including:

Improved Customer Experience: The user-friendly Interface of Budgie simplifies the financial assessment process, enhancing customer satisfaction and engagement.
Add Value: Implement a new system that immediately works and adds value, with little agent training.
Improve efficiency: Inicio AI Budgie has the ability to handle increasing volumes and improve customer outcomes, without increased overheads.
Regulatory Compliance: The platform ensures that all processes comply with regulatory standards.
Cost Efficiency: 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.
Benefits Calculator: Helps users identify additional income, adding practical financial assistance.

How can we help?

Wavenet empowers organisations by uniting their technology, networking and data, providing seamless communications and innovative solutions that are supported by the latest security features. We are perfectly placed to deliver a service you can trust. Read our case studies to find out more about our recent work in this area.