Axo Group, an actor with a strong position in loan mediation, wanted to take action to meet these challenges. Although they already have a solid application process, it is resource-intensive and manual, which both limits scalability and leads to high costs. At the same time, customer expectations are increasingly higher: simpler, faster, and more digital solutions.
As a leader at Axo Group, I describe:
"We saw that even small barriers in the process could cause customers to drop off. We needed a solution that could create a simpler and more seamless journey."
The main challenges Axo Group wants to solve are:
- Dropout during the application process that reduces the conversion rate.
- Resource-intensive manual customer support that increases costs.
- Need to combine efficiency with compliance in a regulated industry.
The solution – Voice AI from Threll.ai
To address these challenges, Axo Group has partnered with Threll.ai and is now conducting a pilot project based on Voice AI agents. The goal is to test how AI-driven voice assistants can streamline the application process and simultaneously improve the customer experience.
Functionality being tested:
- Natural language – customers can talk to AI just like they would with a human.
- Availability 24/7 – customers receive immediate responses without wait times.
- Automation – AI handles data collection and validation.
- Scalability – unlimited number of customers can be served simultaneously without increased staffing costs.
"We see enormous potential in how AI can combine efficiency and customer experience. Collaborating with Axo Group is an important step to demonstrate how artificial intelligence can create business value."
- Sveinung Totland, CEO of Threll.ai
Status so far
The pilot project is now underway, and Axo Group is testing the Voice AI solution in parts of its application process. Currently, they are evaluating, among other things:
- How customers perceive the dialogue with AI agents.
- Whether AI can reduce manual workload in customer service.
- How the solution affects the application process flow and dropout rates.
- To what extent compliance requirements are maintained in an automated process.
The results from the pilot project will provide valuable insights into how Voice AI can be scaled up in use. If the experiences are positive, Axo Group plans to consider rolling out the solution to additional areas, including customer service and debt collection.
As Axo Group expresses it:
"We look forward to testing how the technology works in practice. The pilot project will show us both the possibilities and any limitations before we make a decision about further rollout."
Axo Group and Threll.ai are collaborating on an ongoing pilot project to explore the potential of AI-powered voice assistants. The project aims to test how the technology can contribute to increased efficiency, lower costs, and a better customer experience – with the goal of creating a more future-proof and scalable loan application process.