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Keyloop has partnered with AI group Kortical to help dealers grow their motor finance business and engage more customers in new contracts.
As part of the five-year agreement, Kortical will embed artificial intelligence (AI) tools into Keyloop's existing customer retention software.
Kortical has been working on automotive finance retention solutions for the past five years
Evaluate customer records, online behavior and market trends to not only identify the latest ones, but also determine the best ways to transform them.
This allows retailer sales teams to prioritize communications and reduce “lead burns.”
Keyloop said real-time performance tracking allows managers to monitor the effectiveness of update campaigns via a digital dashboard that accesses corticial analytics.
Users can use these insights to make their sales campaigns more effective. For example, you are more likely to purchase an EV by automatically selecting a group of customers at a defined location and automatically selecting known selected demographic characteristics in a corticometric analysis.
Keyloop said the first auto retailer to use the corticometric tool achieved an average improvement of 7.1% in overall financial renewal rates.
Adrian Nash, Keyloop's Chief Product Officer, said: “We can work with Kortical to provide new and innovative things to our providers and their retail partners, increasing the efficiency of our sales process and allowing our staff to spend more time on customers with the highest level of purchasing intentions.
“Retailers will help identify people who are most likely to use their data to convert to EVs and meet new targets for plug-in vehicles.”
“We're looking forward to seeing you in the future,” said Andy Gray, co-founder and CEO of Kortical.
“By embedding machine learning into key loop retention tools, we help connect with the right customers and the right customers on the right vehicles. It's exciting to see how financial retention in the UK can change how it works and provide the same impact globally.”
