Key has partnered with speech analytics platform Aveni.ai to add artificial intelligence to its customer service function.

The strategic partnership embeds Aveni.ai at the centre of Key’s customer interactions – monitoring conversations with AI to improve the later life lending specialist’s ability to identify and support vulnerable customers in a cost effective and intelligent manner.

Key is the first later life lending company in the UK to adopt Aveni.ai to support vulnerable customers.

From a business efficiency perspective, Key is also working with Aveni.ai to support improved adviser training and oversight processes, as well as boost quality assurance processes.

The first phase of the rollout saw Key’s quality assessors able to conduct call assessments in less than half the time due to the platform’s “intuitive” search options.

Will Hale, CEO of Key, said: “We embrace innovation at Key and our partnership with Aveni.ai demonstrates our commitment to using technology to consistently improve the quality of our advice, and ensure we continue to lead the market in how we support our clients.

“Beyond efficiency, this partnership will allow us to drive greater transparency and oversight, and help us to better identify vulnerable and other high risk customers, all of which contribute towards ensuring the best possible outcomes for our customers.”

“Every company is unique, and off-the-shelf speech analytics tools often deliver less than optimal results, so we start by understanding the specific problems our customers are trying to solve,” said added Twigg, CEO of Aveni.

“It’s great to work with a company like Key that truly cares about its clients and recognises that innovative solutions can help improve customer service and ultimately unlock a wealth of new intelligence and insight.”