Betting Against The Traditional Chatbot Players is DigitalChameleon

“Six months into the Pandemic and we are still not sure what to expect next! Like every business and individual in the world, we were impacted as well, but being an entrepreneur, you generally find your way, perhaps that’s why you become an entrepreneur in the first place.”

Ritesh Srivastava, the CEO of DigitalChameleon shares his thoughts on what led him to establish the Sydney based Fintech Unicorn DigitalChameleon.

Ritesh has been involved in the Conversational-AI Space since its infancy in the Financial Services Industry. He is also the Founder of an Australian Fintech — Epictenet, that has been running for over a decade now and has naturally evolved from a consulting organisation to a self-funded Fintech providing Conversational-AI Platform ‘Joey’.

Joey rapidly matured to become the most holistic Conversational-AI platform in the world. This success played an important part in laying the foundation to conceiving a new platform, DigitalChameleon, that could camouflage and weave itself into wherever the situation it was placed in, with the ability to have quality, emotion based, context driven conversations with customers.

“New technologies come and go event streaming & AI technologies are currently the prime players to be a foundation in the architecture of modern digital organisations. Looking at the current market gap and massive opportunity ahead, we established DigitalChameleon late last year with a mission to humanise conversations for Financial Institutions building a well architected future-proof platform leveraging technological breakthroughs happened in the last couple of years. We have created Digital Humans ‘Camie’ (the Beauty) and ‘Leaon’ (the Brain) working in tandem to act as a Concierge for the customers of Financial Services Institutions, providing human-like experience.”

Chatbots, Virtual Assistants and Conversational AI, have become popular over the past few years and a gamut of companies across the globe are offering similar solutions. Despite all the hype around AI and NLP, most of the platforms provide scripted chatbots with simple FAQs and lead-gen and combination of live chat at best while some focus on creating human-like avatars/clones rather than actually solving customer’s problems.

The limited scripted engagement forces customers to resort to other channels available and has not helped organisations to increase conversion and drive cost down to the promise and potential. Digital Chameleon uses a reliable and battle-tested suite of technologies resulting in an efficient, extremely secure and fault-tolerant platform that adapts to circumstances, sentiments, moods and behaviours of customers in real time, providing personalised engagement.

The backbone of the DigitalChameleon is developed on the powerful Apache Kafka, developed by LinkedIn and open sourced later, is known for its resilience, extreme-scale, and throughput. Kafka is used by organisations like Netflix and Uber to provide seamless connectivity and continuity even in the most patchy internet conditions.

It leverages a powerful combination of relational and NoSQL databases providing sophisticated analytics experience combined with really fast and efficient elastic searching capabilities allowing us to run complex algorithms handling the abundance of unstructured conversations in real time. The unique design of this chat platform coalescing chat sessions and Kafka platform together set us apart from all other products in the market as this innovative approach gives us unmatched resume-ability and recoverability of ongoing sessions ensuring no data is ever lost.

It’s the all in one digital experience combining chatbot, live chat, telephony and workflows capabilities providing continuous cross channel and device engagement adapting to customer’s mood.

With the best technologies under the hood, Chameleon is all set to compete head-on with the existing players, and at the same time its fluid and pluggable backend makes it ready to collaborate with other tools with open arms.

Ready Use Cases with Zero UI + No-Code

We not only have invested in making the platform behave like humans but have also made it easier and cheaper to be adopted by a range of financial institutions.

Leveraging our deep domain expertise and experience, we have created ready-to-use concierges for financial services industry along with real world integrations such as KYC | Credit Decisioning | Calculators | 2FA | Multilingual | Image/Voice Recognition | Open Banking | E-Signature | Enterprise Systems.

The Zero UI + No-Code builder provides organisations the flexibility to change and create journeys on the go making it the fastest adoption of such a sophisticated technology in the world providing human-like conversations.

Unique machine learning capabilities removes the hassle of machine training while still providing control of how the conversations are responded to.

Organisations also get one powerful AI-driven conversation management system to monitor, control, analyse and optimise customer conversations across multiple channels in real time.

Buy it by Sip

The platform is a beautiful piece of software engineering, the micro service-based architecture, fully encrypted, cloud native platform with hosting options and completely automated DevOps process provides the speed, scalability, and robustness we needed to onboard institutions of different tiers.

We have 3 models to choose from depending on the digital maturity and size of the organisation:

  • Elevator is for the small organisation to engage with customers and generate leads and solve their queries.
  • Innovator is for the organisations who are either using chatbots and want to extend the customer journeys further or they are looking to create new digital experiences.
  • Transformer model is for the organisations who understand the future of conversational experience has to offer and ready to go big creating amazing fully integrated experiences for their customers to do all things digital.

Powering FIs Post-Pandemic

We conceptualised DigitalChameleon long before words like ‘COVID-19’, ‘Pandemic’, ‘Lockdown’, ‘Work from Home’ ‘New Normal’ were being touted around in everyday conversations.

Little did we know, the upcoming months would carve out a perfect opportunity for DigitalChameleon, converting the current crisis into an opportunity for businesses across the globe.

Despite the uncertainty in the world, we plan to accelerate our efforts, and I believe in the next 12–18 months we’ll be rolling out further exciting features and functionalities, the best of what anyone has ever produced.

The coronavirus outbreak has rattled the market and consumer sentiments, putting enormous strain on financial institutions to better serve customers in distress by enhancing support using digital tools. DigitalChameleon is the platform for FIs to engage and support their customers at this critical time while allowing them to unlock legacy data and integrate data silos and personalise digital conversations leveraging the power of Emotion-AI.

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DigitalChameleon Ritesh Srivastava

Author: Lauren Towner

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