Zviki Ben Ishay, Founder & CEOInstead of filling in endless stacks of papers, coming into bank branches or scanning payment stubs, imagine being able to complete all banking activities with a simple text message from a cell phone. Now any complex transaction-like completing W9 forms, signing docs or proving identity are as easy as taking a selfie. Easy and anywhere.
Empowered by the digital revolution, modern customers expect the convenience in their personal lives to be extended to their financial transactions for faster process completion. However, financial institutions continue to struggle with legacy approaches and are burdened by the relentless regulatory updates. The incoherent communication carried out through different channels (web, email, mobile app, and phone) results in rising costs, poor sales, and agent productivity, and most importantly poor customer experience (CX). They need a technology partner that can help them navigate through the complex administrative and regulatory predicaments to meet customer demands.
New York-based Lightico caters to this need: a company that offers a robust platform for digital customer interactions to orchestrate financial transactions in real-time. Backed by the extensive experience in the domains of contact center and CX, the leadership at Lightico took a visionary approach to fill the CX gaps by facilitating financial transactions and interactions in real time at scale, securely, using cloud technologies. “We have invested heavily in extensive R&D to develop the platform that guarantees a compliant, consistent, fast, and end-to-end customer experience,” states Zviki Ben-Ishay, founder and CEO at Lightico.
Lightico’s innovative platform enables financial institutions to complete any transaction with customers simply, streamlining all customer journeys. Customers instantly connect to the bank’s call center agents and instantly sign documents, complete forms, submit identification particulars, share images and videos, and process payments in a single, secure, interactive session. This session can be quickly initiated via SMS or email while on the call. The streamlined customer-facing workflows and processes help clients to complete each stage of the customer lifecycle in a more nimble and instantaneous fashion.
We have invested heavily in extensive R&D to develop the platform that guarantees a consistent, fast, and end-to-end customer experience
“The faster, end-to-end, and encrypted data collection process, as well as the real-time transactions, reduces fraud risks and improves services that result in satisfied customers and increased conversion rates,” mentions Ben-Ishay. Moreover, “Our cloud-based platform can be deployed instantly as it easily integrates with any technology— IVR, web channel, and mobile app—and system via APIs.”
A case in point, one of US’s top five financing and money lending firms faced challenges in the loan origination process. A complete process used to take four days, which created hassles for customers. The firm approached Lightico, and “after implementing our platform, the transaction period reduced by 85 percent,” extols Ishay. The client can now save time with on-spot data collection, which improves the operational efficiency and business outcomes. Similarly, Lightico helped a telecommunication company enhance its net promoter score (NPS) by assembling the mandated requirements for prompt customer interactions. Lightico’s simplified regulated requirements for disclosures with digital acknowledgments not only made customers happier, but it also boosted the agents’ passion for the job.
Lightico has rampant growth in the last 18 months in the US and UK is thanks to its track record streamlining complex processes among Financial Service clients. Now, the company is expanding globally and with channel partners like Amdocs and local resellers. “At present, we have customers in Germany, Mexico, Brazil, Philippines, and Japan,” mentions Ben-Ishay. To be at the forefront of innovation, Lightico is developing an end-to-end workflow process that streamlines business execution by connecting to a CRM instantly to continue helping Financial Institutions accelerate their customer-facing interactions in a simple and compliant way.