• Unified Conversations Platform company Eltropy has introduced a range of new enhancements to its offering.
• The enhancements include Skill-Based Routing, new Lobby Management features, and a voice and contact center solution, Voice+
• A Finovate alum for more than seven years, Eltropy most recently demoed its technology at FinovateFall 2022.

Unified Conversations platform provider Eltropy recently unveiled a set of new enhancements to its offering. The upgrades include Skill-Based Routing (SBR 2.0), new Lobby Management features, and a modern voice and contact center solution, Voice+.

“These enhancements reaffirm our commitment to quality and mark one of our most significant engineering efforts to date,” Eltropy CEO and Co-founder Ashish Garg said. “We’re excited about the opportunities these improvements will create for credit unions and community banks to elevate their overall member, customer, and employee experience in banking.”

Eltropy Voice+ brings voice functionality to digital channels such as text, video, and chat. Enhanced by an AI layer, Voice+ provides a unified contact center solution for voice, digital, and AI interactions, and gives agents a single interface to support greater efficiency. Skill-Based Routing (SBR 2.0) provides users with several features including the ability to prioritize high-value interactions, match agent proficiency based on language skills, and identify simultaneous channel handling via cross-channel concurrency. Lobby Management, first introduced earlier this year, now combines the best of digital banking with traditional branch services with efficient check-ins, queue management, branch traffic analytics, and resource planning tools.

Howie Meller, President and CEO of People First Federal Credit Union — which was among the early adopters of Eltropy’s Voice+ — praised the enhancements as a benefit for members and credit union employees alike. “Voice+ will make a big difference in how we serve our members,” Meller said. “Our agents can now use voice alongside text, video, co-browsing, and AI help. This means we can solve problems faster and better, all in one place. It’s a real improvement for our members.”

Eltropy made its first Finovate appearance in 2017, and most recently demoed its technology on the Finovate stage at FinovateFall 2022. In the years since then, the company has partnered with several community financial institutions such as Cyprus Credit Union, InRoads Credit Union, and Magnifi Financial, as well as fellow Finovate alums Jack Henry, Fiserv, and Alkami. In fact, Eltropy began the year celebrating its 600 customer milestone. The company opened the doors to its new headquarters in Santa Clara, California, in May.

Photo by Alex Andrews

• Digital conversations platform Eltropy has unveiled its Lobby Management solution.
• The offering will help community financial institutions (CFIs) create better branch lobby experiences for customers and members.
• Eltropy made its Finovate debut in 2017. The company most recently demoed at FinovateFall in 2022.

Digital conversations platform Eltropy launched its Lobby Management solution last week. The new capability will enable community financial institutions (CFIs) to offer a better branch lobby experience for their customers.

“The branch remains an essential member and customer touchpoint in community banks and credit unions, yet inefficient queues and resource allocation often undermine the experience for both visitors and employees,” Eltropy co-founder and CEO Ashish Garg said. “With Lobby Management, we can make every visit effortless while unlocking many operational efficiencies and equipping staff to serve members better.”

Lobby Management is a part of Eltropy’s Branch Management solution portfolio within its Unified Digital Conversations Platform. The new offering gives branch managers the ability to manage walk-in customer flow, and to enhance convenience with tools such as virtual queuing. Integrated with Eltropy’s Appointment Management, Lobby Management also enables members and customers to use a check-in kiosk to check-in for scheduled appointments or to book new ones. Lobby Management also provides lobby traffic analytics to help branch managers best allocate staff and service offerings.

“Lobby Management, powered by the Eltropy Unified Platform, allows CFIs to tie their branch operations with digital operations, thereby holistically serving their members and customers in physical and digital channels seamlessly and simultaneously,” Eltropy VP of Products Jack Chawla said. “With our unique approach to resource management in physical and digital channels, we can help CFIs efficiently service the members in the channel of their choice, including the branch lobby.”

Eltropy made its Finovate debut at FinovateSpring in 2017. In its most recent appearance on the Finovate stage two years ago, the company demoed its Eltropy One solution. Eltropy One is the company’s all-in-one omni-channel solution that enables FIs to manage both in- and outbound communications from a universal console. With Eltropy One, FIs can leverage text, secure chat, video, audio, cobrowsing, and conversational bots to handle both simple and complex customer communication.

Founded in 2014, Eltropy is headquartered in Milpitas, California. The company began the year surpassing the 600th customer milestone. In a statement, Eltropy noted that it was the fastest CFI-focused fintech to achieve this accomplishment. The new milestone announcement came with news that the company was increasing its investment in Generative AI and product R&D by 36% this year.

Photo by micheile henderson on Unsplash

• Digital conversations platform Eltropy announced a partnership with Magnifi Financial.
• The two companies will work to build and launch Generative AI-based solutions for employees, customers, and members of community financial institutions.
• Eltropy most recently demoed its technology at FinovateFall 2022 in New York.

Digital conversations platform Eltropy and Magnifi Financial are working together to launch Generative AI solutions to enhance employee training and improve the customer/member experience. Eltropy’s Generative AI tools are powered by large language models (LLMs) that are specifically designed for community financial institutions (CFIs). These tools have enabled CFIs to bring new efficiency to their operations and greater personalization to the products and services they offer. Speaking about the partnership in a statement, Magnifi Financial SVP for IT and Digital Brad Shafton highlighted the fact that Eltropy’s technology is especially geared toward the needs of community financial institutions.

“What sets Eltropy apart is not just their technology but also their dedication to understanding the credit union industry and their commitment to community financial institutions like ours,” Shafton said. “They continue to evolve, and that’s why we consider them a long-term partner, including for AI.”

Magnifi will deploy Eltropy’s technology in a number of ways, including enhancing the firm’s mortgage and lending operations. Additionally, Eltropy’s ChatGRT-style Employee Assistants enable customer-facing financial services workers – from contact center agents to tellers – to access vetted, verified customer data. The technology also automates tasks like e-mail response generation, using natural conversational language.

To this end, Eltropy co-founder and CEO Ashish Garg said that solutions based on Generative AI have the potential to provide credit unions and community banks with new “innovative ways to thrive.” Garg added, “Eltrophy’s generative AI tools are empowering forward-thinking CFIs to achieve this by accelerating and enhancing employee knowledge training, improving the member experience and ultimately fueling growth.”

Eltropy made its most recent Finovate appearance last year at FinovateFall 2022. The company’s partnership with Magnifi Financial follows news of a collaboration with fellow Finovate alum Jack Henry from earlier this month, and an integration with Fiserv’s full-service account processing platform Portico in November. In August, Eltropy teamed up with yet another Finovate alum, Alkami, to enhance digital conversations for financial institutions.

Headquartered in Milpitas, California, Eltropy has raised $25 million in funding. The company includes K1 Investment Management and Curql among its investors.

Photo by Shane Aldendorff

• Digital communications platform Eltropy and collections platform provider AKUVO announced a new partnership, integrating Eltropy’s texting functionality into AKUVO’s Aperture solution.
• The integration will enhance the collections process for community financial institutions (CFIs).
• Eltropy made its Finovate debut in 2017 and returned to the Finovate stage last year for FinovateFall in New York.

A newly-announced partnership between digital communications platform Eltropy and cloud-based collections platform provider AKUVO will enable credit unions to leverage the texting capabilities of Eltropy’s platform to enhance collections operations. Now, credit unions, community banks, and other community financial institutions (CFIs) will be able to access Eltropy’s texting communications platform from AKUVO’s Aperture solution.

“Integration between Eltropy and AKUVO’s Aperture will provide collectors with a powerful texting platform to guide their account holders through a proactive, effective collections experience,” AKUVO Chief Revenue and Operating Officer Steve Castagna said.

Headquartered in California and founded in 2014, Eltropy made its Finovate debut in 2017 and most recently demoed its technology at FinovateFall 2022 last September. At the conference, Eltropy demoed its Eltropy One offering, an all-in-one omni channel solution that lets financial institutions manage both inbound and outbound member and customer communications from a single console. Text, secure chat, video, voice, co-browse, chatbot, and secure file exchange are among the functionalities Eltropy provides – all in a secure and compliant fashion.

In addition to facilitating the delivering of seamless omnichannel customer experiences, Eltropy’s platform leverages AI to help CFIs better resolve issues and consumer inquiries. The technology detects both subjective conditions like consumer sentiment and mood as well as objective data like specific relevant keywords and phrases to provide real-time guidance and personalized recommendations. The company’s partnership with AKUVO, according to Castagna, underscores a shared “visionary approach” to using both data and analytics to help enhance the financial wellness of members and customers.

“One of our primary goals in 2023 is to build stronger integrations with vendors who have strengths in areas of need from our CFI customers, so we look forward to partnering with AKUVO who is making waves in the collection industry with their Aperture platform,” Eltropy VP of Strategic Partnerships Jason Smith said.

With $25 million in funding, Eltropy closed out 2022 with new partnership announcements with digital banking solutions provider Tyfone and credit union lending technology company Origence. Also last year, Eltropy acquired both video banking company POPi/o and AI conversational intelligence platform Marsview.ai. Ashish Garg is Eltropy’s founder and CEO.

Learn more about Eltropy in its upcoming Finovate webinar, 7 trends for community financial services in 2023.

Photo by Lukas