Julián Colombo, founder of N5, told how the “butler” and the “coach” act to facilitate the work of employees and improve the customer experience
Technology is advancing by leaps and bounds, improving people’s quality of life and optimizing the operations of large corporations. And banks can’t be left behind in this paradigm shift, which is why they’re starting to rely on startups like N5.
Specifically, N5 is a company that offers software of all kinds to properly manage the different divisions of a bank. However, one of its main attractions is that it also provides a set of truly impactful artificial intelligence (AI) assistants.
AI superassistants
In dialogue with Nuevo Dinero Talk Show, a program broadcast by Ahora Play, the founder and CEO of N5, Julián Colombo, explained that the first of these attendees is Alfred, a “butler” who turns the bank executive into a true “superhero”.
Specifically, it provides support in very routine and necessary tasks such as analyzing and classifying emails, preparing responses for regular customers, scheduling calls with business users, studying consumption patterns and a long etcetera.
On the other hand, there is Pep, who allows workers to achieve “the best version” of themselves. For example, it explains what the different products offered by the bank consist of, with videos, rates, statistics; shows the potential customers most likely to buy based on their consumption history and other metrics; reveals how the best salesperson behaves, including the phrases they use and avoid, what time they contact customers, etc.; and acts as a sparring partner to simulate the sale and for the executive to practice.
“Pep and Alfred merge and the human is a supervisor. This is completely different from a chatbot,” Colombo said. “These are artificial intelligences with human faces, human voices, personalities, style, that copy the top 1% in each of a bank’s disciplines and can grow at scale,” he added.
According to the businessman, the relationship between a financial institution and a customer is of a dual nature, it is transactional and advice: no one wants to talk to a human to make a transfer, but they do want to make an important decision such as the acquisition of a 30-year mortgage.
“What we create today is the democratization of empathy, that every person in the world has a person who can dedicate an hour of conversation to explain what a mortgage is like at three in the morning on a Tuesday. It doesn’t matter how much that person earns. That is the revolution that N5 is going to bring,” Colombo summarized.
Risk and reward
After working for almost two decades at Banco Santander, one of the largest and most important financial groups in the world, Colombo received a job offer from a prestigious software developer. However, she felt that her next step in life was to become an entrepreneur: “It was a stage that had been fulfilled and that had to pass.”
According to the specialist, on average, a large bank of international caliber has 72,000 active softwares, which is why they take so long to innovate compared to a small fintech that starts from scratch.
For this reason, in 2017, after detecting the enormous technological complexity that exists, he chose to create a software company aimed at this sector that would simplify all processes, taking advantage of his enormous experience and level of knowledge.
“I am to an entrepreneur what a shipwreck survivor who swam to shore is to Michael Phelps. Deep down I continue to do the same, it went more or less well, but it was not very by design,” said the businessman.
Today, N5 has among its customers 70 of the most relevant financial corporations today and a waiting list of more than 2,500 potential users. In addition, its investors include JP Morgan Chase & Co., Citigroup, Walmart’s Walton family and Fiat’s Agnelli family.
To see the entire interview with Julián Colombo and the complete program of Nuevo Dinero Talk Show enter this link:
