eGain Virtual Financial Coach™ Experiences Early Success with Credit Unions

Rhea-AI Summary

eGain (NASDAQ: EGAN) announces increased adoption of its Virtual Financial Coach since launching in March 2021, with 25 credit unions now utilizing the platform. Positive user feedback indicates 85% of users find their personalized coaching plans achievable, while 88% value the coaching experience. This AI-powered solution provides continuous financial advice and enables credit unions to offer tailored, expert support to their members, aiming to enhance financial health.

Positive

• 25 credit unions have deployed the eGain Virtual Financial Coach.
• 85% of users find their personalized coaching plan achievable.
• 88% of users find the coaching experience valuable.
• The solution enables credit unions to provide expert financial advice at scale.

Negative

• None.

85% of users rate their personalized coaching plan achievable

SUNNYVALE, Calif., Aug. 17, 2021 (GLOBE NEWSWIRE) -- eGain (NASDAQ: EGAN), the leading cloud platform for customer engagement automation, today announced that 25 credit unions have deployed the eGain Virtual Financial Coach since its launch in March earlier this year.

Thousands of consumers are already using the Coach for advice and user feedback has been positive. Once the Coach develops a personalized coaching plan for a customer, it engages her in a continuous conversation with proactive, behavioral nudges via messaging and digital channels.

• 85% users say that the personalized plan prescribed by the Coach is achievable.
• 88% users say that the coaching experience is valuable.

Matt Duthler, Marketing Director at Northland Area Federal Credit Union said: “Northland is thrilled to be able to provide the Virtual Coach to our members.  We know our members have a pressing need for financial advice. The Coach is a fun, personal, and a motivating way to help our members save more money, improve their credit score, make that big purchase, and improve their financial health.”

Pre-packaged with financial counseling best practices from GreenPath, eGain Virtual Financial Coach enables credit unions to deliver high-quality, AI-powered financial advice at scale. As a 100% turnkey solution, the Coach can be configured, personalized, and activated within minutes for a credit union or bank.

“This is not your typical chatbot,” explained Rick Bialobrzeski, GreenPath’s Chief Business Development Officer. “It offers users 24/7 access to customized advice about their credit. Users feel like they’re getting expert advice from a seasoned financial counselor.”

“Credit Union executives tell us how they have been looking for an intelligent, turnkey financial coaching solution forever,” said Evan Siegel, VP of eGain Financial Services AI. “We are thrilled to deliver this innovative service, in partnership with GreenPath, to our communities.”

More Information

• eGain Virtual Financial Coach: https://www.egain.com/virtual-financial-coach/
• eGain Virtual Financial Coach in action:
  • Alabama ONE: Mortgage - Alabama ONE
  • Frankenmuth Credit Union: https://frankenmuthcu.org/virtual-coach/

eGain, the eGain logo, and all other eGain product names and slogans are trademarks or registered trademarks of eGain Corp. in the United States and/or other countries. All other company names and products mentioned in this release may be trademarks or registered trademarks of the respective companies.

About eGain
eGain customer engagement platform automates digital-first, omnichannel experiences for global brands. Powered by knowledge, AI and analytics, our top-rated cloud software enables effortless customer journeys with virtual assistance, customer self-service, and modern agent tools. To learn more, visit www.eGain.com.

eGain media contact Michael Messner Email: press@egain.com Phone: 408 636 4514 www.eGain.com

FAQ

What is the eGain Virtual Financial Coach?

The eGain Virtual Financial Coach is an AI-powered platform that provides personalized financial coaching and advice to users, aiming to improve their financial health.

How many credit unions have adopted eGain's Virtual Financial Coach?

As of August 2021, 25 credit unions have deployed the eGain Virtual Financial Coach since its launch in March.

What percentage of users find their coaching plan achievable with the eGain Virtual Financial Coach?

85% of users report that their personalized coaching plan is achievable.

What feedback have users provided about the eGain Virtual Financial Coach?

88% of users say the coaching experience is valuable.

When was the eGain Virtual Financial Coach launched?

The eGain Virtual Financial Coach was launched in March 2021.