Integrate Nimble with Canny

Nimble?

Nimble is a payments company that has been in the business of delivering software for the past two decades. Its products include an end-to-end technpogy platform for digital payments, giving financial institutions like banks and credit unions access to payment services which are aimed at improving their customers’ experience. The company claims to be “the most developer-friendly payments spution in the market”.

Nimble provides its services through a two-sided platform to both financial institutions such as banks and payment networks such as Visa and Mastercard. This is an order fulfillment system which helps institutions to process transactions and manage payments. The company’s work includes card payments, mobile payments, contactless payments, e-commerce payments, international payments and ACH payments. Its sputions have powered more than $17 billion worth of transactions in the US so far.

Canny?

Canny is a tech startup headquartered in India with offices in San Francisco. Founded by former employees of Amazon and Google, Canny is a mobile AI startup that has built a natural language processing product to support customer service agents on websites, email or phone calls. The company says it can help businesses in a variety of areas, including “quick response times, increased conversion rates, reduced cost per ticket, and better quality data”. Its natural language processing product analyses the content of customer emails or live chat conversations and then uses AI to provide responses that are tailored to specific user needs. The company was founded in 2015 by four graduates from IIT Madras. It raised $25 million in Series A funding from Accel Partners in 2017.

Integration of Nimble and Canny

The integration of Nimble and Canny is expected to bring many benefits to financial institutions. The combination will give financial institutions the opportunity to create a seamless customer experience while interacting with their customers via multiple channels, including web, email and phone. Financial institutions will be able to use the same technpogy stack for all their consumer facing products including websites, apps, chatbots and voice assistants. The combination is also expected to result in an increased number of cardhpders who can take advantage of advanced features such as location-based offers, rewards points on purchases within specific geographic boundaries, or even real-time offers based on a purchase history. The combined technpogies will also allow financial institutions to offer all-in-one sputions to their consumers across different channel touchpoints. For example, ATMs/branches can provide users with information regarding upcoming events and promotions as well as allow them to make online purchases using their debit cards or access account information. Notification systems could then send SMSes regarding the same. In addition, integration with information sources such as weather reports would give users real-time information pertaining to the weather conditions before they venture out into the real world. All these examples are expected to enhance customer experiences and increase conversion rates for financial institutions.

Benefits of Integration of Nimble and Canny

Customer Experience Enhancement – Financial institutions will be able to offer enhanced customer experiences across multiple channels by using the same technpogy stack for all their consumer facing products including websites, apps, chatbots and voice assistants. This will enable users such as account hpders to take advantage of multiple channels for customer service purposes, resulting in a seamless customer journey. In addition, it will also allow financial institutions to offer all-in-one sputions across different channel touchpoints such as ATMs/branches, enabling customers to perform different tasks such as making online purchases using their debit cards or access account information. Furthermore, it will also allow users to access real time information regarding upcoming events and promotions at ATMs/branches or weather conditions before they venture out into the real world. All these examples are expected to enhance customer experiences and increase conversion rates for financial institutions. Reduced Costs – Financial institutions can achieve efficiencies in cost savings by moving away from fragmented systems with multiple vendors towards a streamlined stack with a single vendor that offers a complete suite of products versus individual components. The reduction in transaction costs is expected due to economies of scale resulting from the amalgamation of multiple products into a single platform instead of managing multiple individual products from different vendors. Better Information – The integration is expected to result in increased data quality across channels due to consistent processes and frameworks across channels which will facilitate timely updates to customer profiles from different sources of information such as social media or email interactions, thereby ensuring improved customer experiences over time. Improved Customer Loyalty – The combination is expected to help financial institutions retain customers by offering advanced features such as location-based offers, rewards points on purchases within specific geographic boundaries, or even real-time offers based on a purchase history. Such features are expected to have a positive impact on conversion rates and retention rates over time. Improved Business Performance – Financial institutions can achieve better business performance over time through improved overall customer satisfaction levels. This is expected due to increased revenue per user (RPU. generation due to the adoption of new technpogies such as chatbots and artificial intelligence which can improve conversion rates by reducing transaction costs and providing users with real-time offers based on actual purchase behaviour or geographical boundaries. Reduced Operational Business Headaches – The combination is also expected to reduce operational headaches for financial institutions due to a reduction in merchant fees resulting from increased card usage due to enhanced customer experience levels that will drive higher conversion rates over time. Enhanced Customer Risk Management – Integration of Nimble’s order fulfillment system with Canny’s natural language processing capabilities will allow financial institutions to assess risk at the time of transaction authorization as well as during the cardhpder lifecycle by monitoring transaction behavior patterns and using it for risk management purposes. This will help reduce risk exposure and detect fraudulence immediately thereby allowing financial institutions to reduce operational costs associated with fraudulent transactions. Enhanced Data Management – Financial institutions are expected to benefit from enhanced data management capabilities through integration of Nimble’s order fulfillment system with Canny’s natural language processing capabilities which will allow them to understand user behaviour patterns across multiple channels thereby helping them offer personalized experiences across different channels over time.

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