Analyze data and learn from customer interactions
In this episode of the Tekpon SaaS Podcast, host Cristian Dina interviews Jennifer Durishin, the Head of Marketing at Prodigal, an artificial intelligence SaaS startup. Prodigal focuses on improving operations for servicing and loan operations, bringing much-needed innovation to old industries that have lacked technological advancements for over 30 years.
Jennifer explains that Prodigal’s primary goal is to make loan operations more efficient by bringing software innovation and intelligence to industries dealing with issues such as auto loans, medical debt, and overdue credit card bills. By utilizing their AI-powered software, Prodigal helps these companies with tasks like quality assurance and compliance, automated speech recognition, and even agent coaching to ensure more empathetic customer interactions. This results in significant improvements in operations, increased revenue, reduced costs, and lower risk.
The conversation then shifts to pricing, with Jennifer explaining that Prodigal offers custom pricing based on the specific needs of each customer. Factors such as the number of agents, hours of usage, and the combination of Prodigal’s three different applications determine the pricing structure.
Regarding Prodigal’s AI capabilities, Jennifer shares that they have been utilizing AI as an integral part of their system even before it became a popular industry trend. Their AI intent engine has been trained by analyzing over 300 million customer conversations and interactions specific to financial services. This focus on vertical markets enables Prodigal to continually improve its AI’s understanding of conversations related to bankruptcy, hardship, and other financial topics, giving it a unique advantage in the market.
When asked about a customer success story, Jennifer highlights the significant impact Prodigal has had in helping companies comply with regulations and improve quality assurance. Previously, manual processes meant firms could only listen to approximately 2% of their calls. With Prodigal’s software, companies can review 100% of their calls, ensuring compliance and facilitating more efficient operations. This not only alleviates the pressure of regulatory fines but also allows companies to reallocate resources and streamline processes.
Jennifer then shares the origin story of Prodigal, stating that the company’s founder recognized an opportunity in the market. While many startups focused on loan origination, there was a lack of attention given to the crucial aspect of loan repayment. Prodigal aims to bridge this gap by providing data-driven insights to help companies make smarter decisions based on real-time information. With a vision to bring intelligent solutions to loan operations, Prodigal plans to revolutionize the industry.
In conclusion, this episode of the Tekpon SaaS Podcast provides valuable insights into the work Prodigal is doing to improve loan operations and lend servicing through AI-powered solutions. Jennifer Durishin’s expertise sheds light on Prodigal’s mission, customer successes, pricing approach, competitive landscape, and vision for the future. Listeners gain a deeper understanding of the transformative power of AI in the financial services industry and its potential to drive more efficient, empathetic, and data-driven customer interactions.
