Artificial Intelligence

FinVolution Group Reports Second Quarter 2021 Unaudited Financial Results

Published

3 years ago

August 23, 2021

FinVolution Group (“FinVolution,” or the “Company”) (NYSE: FINV), a leading fintech platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2021.

	For the Three Months Ended		YoY Change
	June 30, 2020	June 30, 2021	YoY Change
Total No. of New Individual Borrowers^[3] (‘000)	197	1,183	500.5%
New Individual Borrowers China’s Mainland (‘000)	169	812	380.5%
New Individual Borrowers International (‘000)	28	371	1,225.0%
No. of Small Business Owners served in China’s Mainland (‘000)	31	408	1,216.1%

Total Transaction Volume^[4]	13.2	33.4	153.0%
Transaction Volume China’s Mainland (RMB in billion)	13.1	32.5	148.1%
Transaction Volume International (RMB in billion)	0.05	0.94	1,780.0%

Second Quarter 2021 Operational Highlights

Growing global user base with total no. of new borrowers reaching record high

Total cumulative registered users^[1] reached 130.8 million as of June 30, 2021.
Total number of unique borrowers^[2] was 3.7 million as of June 30, 2021.
Total number of new borrowers^[3] was 1.18 million, an increase of 500.5% compared to the same period of 2020.

Total transaction volume and outstanding loan balances both reaching new record highs

Total transaction volume reached RMB33.4 billion, an increase of 153.0% compared to the same period of 2020.
Transaction volume facilitated for total new borrowers^[5] was RMB7.1 billion, an increase of 610.0% compared to the same period of 2020.
Total outstanding principal of loans reached RMB39.4 billion, an increase of 86.7% compared to the same period of 2020.

Small business owner’s loans scaling up with steady growth

Transaction volume facilitated for small business owners was RMB6.2 billion, representing 18.6% of total transaction volume.
Numbers of small business owners served in the quarter exceeded 408.0 thousand, an increase of 1,216.1% compared to the same period of 2020.

International expansion continues to accelerate with new geographic presence

Number of new borrowers acquired in the international markets reached 371.0 thousands, an increase of 1,225.0% compared to the same period of 2020.
Transaction volume facilitated for the international markets was RMB940.0 million, an increase of 1,780.0% compared to the same period of 2020.
Pilot testing operations took off in Vietnam.

More operational highlights

90 day+ delinquency ratio^[6] reached a new historical low to 1.01% as of June 30, 2021, compared to 7.13% in the same period of 2020.
Average loan size^[7] was RMB4,403 for the second quarter of 2021, compared to RMB3,867 in the same period of 2020.
Average loan tenor^[8] was 8.1 months for the second quarter of 2021.

Second Quarter 2021 Financial Highlights

Sustainable growth with progressive improvement

Net revenue was RMB2,384.1 million (US$369.3 million) for the second quarter of 2021, an increase of 31.7% from RMB1,810.5 million compared to the same period of 2020.
Operating profit was RMB704.7 million (US$109.1million) for the second quarter of 2021, an increase of 24.2% from the same period of 2020.
Non-GAAP adjusted operating income^[9], which excludes share-based compensation expenses before tax, was RMB726.1 million (US$112.5million) for the second quarter of 2021, an increase of 26.1% from the same period of 2020.
Diluted net profit per ADS was RMB2.11 (US$0.33) and diluted net profit per share was RMB0.42 (US$0.07), an increase of 40.7% in the same period of 2020. Non-GAAP diluted net profit per ADS was RMB2.17 (US$0.34) and Non-GAAP diluted net profit per share was RMB0.43 (US$0.07), an increase of 42.8% in the same period of 2020.

^[1] On a cumulative basis, total number of users registered on the Company’s platforms as of June 30, 2021.

^[2]Represents the total number of borrowers whose transactions were facilitated on the Company’s platforms during the period presented.

^[3]Represents the total number of new borrowers on the Company’s platforms during the period presented.

^[4] Represents total transaction volume facilitated on the Company’s platforms during the period presented.

^[5] Represents transaction volume facilitated for total number of new borrowers on the Company’s platforms during the period presented.

^[6] “90 day+ delinquency ratio” refers to the outstanding principal balance of on- and-off balance sheet loans that were 90 to 179 calendar past due as a percentage of the total outstanding principal balance of on-off balance sheet loans on the Company’s platform as of a specific date. Loans that originated outside China’s Mainland is not included in the calculation.

^[7]Represents the average loan size on the Company’s platform in China’s Mainland during the period presented.

^[8]Represents the average loan tenor period on the Company’s platform in China’s Mainland during the period presented.

^[9]Please refer to “UNAUDITED Reconciliation of GAAP And Non-GAAP Results” for reconciliation between GAAP and Non-GAAP adjusted operating income.

Mr. Feng Zhang, the Chief Executive Officer of FinVolution, commented, “We are thrilled to be reporting another set of record-breaking operational and financial results in the second quarter. As we harness our technological capabilities effectively to acquire new better quality borrowers and constantly increase our acquisition channels, our total number of new better quality borrowers acquired globally once again crossed the one million mark to a new record high of 1.18 million this quarter, an increase of 500.5% year over year and 17.7% quarter over quarter.”

“Another clear indication that we are resuming high quality growth is our total transaction volume for the quarter reached a new record high to RMB33.4 billion , a 153.0% jump year over year and a sequential increase of 24.6%.”

“Growth momentum for our small business owners segment remained robust with transaction volume increasing 40.9% sequentially to RMB6.2 billion in the second quarter. Notably, the total number of small business owners served in the second quarter of 2021 exceeded 408 thousand, compared to just 220 thousand in total for the full year 2020.”

“Our pilot testing operations in Vietnam, marks the fourth country in our global roadmap in addition to our international presence in Indonesia, Philippines, and Singapore. Leveraging our technologies and digitization capabilities to create long term value for our stakeholders, we are confident in our ability to maintain our position as the leading fintech platform in China while capturing tremendous growth opportunities globally,” concluded Mr. Zhang.

Mr. Jiayuan Xu, the Chief Financial Officer of FinVolution, commented, “With continued improvement across multiple operating metrics in the second quarter, we delivered a non-GAAP operating profit of RMB726.1 million, an increase of 26.1% year-over-year and a sequential increase of 8.2%, further validating the viability of our business model. Our robust balance sheet with RMB4.9 billion in unrestricted cash and short term investments, coupled with strong technology capabilities positions us well to explore opportunities both in domestic and international markets,” concluded Mr. Xu.

Second Quarter 2021 Financial Results

Net revenue for the second quarter of 2021 increased by 31.7% to RMB2,384.1 million (US$369.3 million) from RMB1,810.5 million in the same period of 2020, primarily due to the increase in transaction volume and partially offset by the decrease in guarantee income as a result of improved asset quality.

Loan facilitation service fees increased by 135.3% to RMB952.4 million (US$147.5 million) for the second quarter of 2021 from RMB404.7 million in the same period of 2020, primarily due to the increase in transaction volume which was partially offset by the decrease in average rate of transaction fees.

Post-facilitation service fees increased by 95.6 % to RMB299.6 million (US$46.4 million) for the second quarter of 2021 from RMB153.2 million in the same period of 2020, primarily due to the increase in outstanding loans serviced by the Company and the rolling impact of deferred transaction fees.

Guarantee income was RMB665.7 million (US$103.1 million) for the second quarter of 2021 compared to RMB821.2 million in the same period of 2020, as a result of improved asset quality. The fair value of quality assurance commitment upon loan origination is released as guarantee income systematically over the term of the loans subject to quality assurance commitment. As we transitioned our business towards quality borrowers, the fair value of quality assurance commitment upon loan origination decreased due to better asset quality which results in the decrease in guarantee income.

Net interest income decreased by 7.4% to RMB308.5 million (US$47.8 million) for the second quarter of 2021, from RMB333.2 million in the same period of 2020, primarily due to the reduction in the outstanding loan balances of consolidated trusts partially offset by the higher transaction volume originated in the international markets.

Other revenue increased by 60.8% to RMB157.9 million (US$24.5 million) for the second quarter of 2021 from RMB98.2 million in the same period of 2020, primarily due to increase in customer referral fees to other third-party platforms.

Origination and servicing expenses increased by 67.1% to RMB455.0 million (US$70.5 million) for the second quarter of 2021 from RMB272.3 million in the same period of 2020, primarily due to the increase in employees expenditures and fees paid to third party service providers.

Sales and marketing expenses increased by 609.4% to RMB473.2 million (US$73.3 million) for the second quarter of 2021 from RMB66.7 million in the same period of 2020, primarily due to the increase in online customer acquisition expenses as a result of increased efforts in acquiring new borrowers on the Company’s platform.

Research and development expenses increased by 25.4% to RMB104.6 million (US$16.2 million) for the second quarter of 2021, compared to RMB83.4 million in the same period of 2020, due to increased investments in technology development.

General and administrative expenses increased by 23.6% to RMB126.1 million (US$19.5 million) for the second quarter of 2021 compared to RMB102.0 million in the same period of 2020, due to increased expenditures in employees benefits.

Provision for accounts receivables and other receivables increased by 104.3% to RMB47.4 million (US$7.3 million) for the second quarter of 2021, compared with RMB23.2 million in the same period of 2020 as a result of increase in outstanding loan balances partially offset by improved credit quality.

Provision for loans receivables was RMB81.9 million (US$12.7 million) for the second quarter of 2021, compared with RMB119.8 million in the same period of 2020, primarily due to improved asset quality as well as the decrease in loan receivables during the quarter.

Credit losses for quality assurance commitment were RMB391.1 million (US$60.6 million) for the second quarter of 2021 compared to RMB575.8 million in the same period of 2020, primarily due to improved asset quality partially offset by the increase in outstanding loan balances.

Operating profit increased by 24.2% to RMB704.7 million (US$109.1 million) for the second quarter of 2021 from RMB567.2 million in the same period of 2020.

Non-GAAP adjusted operating income, which excludes share-based compensation expenses before tax, was RMB726.1 million (US$112.5 million) for the second quarter of 2021, representing an increase of 26.1% from RMB575.9 million in the same period of 2020.

Other income decreased by 24.8% to RMB25.8 million (US$4.0 million) for the second quarter of 2021 from RMB34.3 million in the same period of 2020, mainly due to the decrease in government subsidies.

Income tax expenses were RMB110.1 million (US$17.0 million) for the second quarter of 2021, compared with RMB147.5 million in the same period of 2020, mainly due to change in preferential tax rate for certain qualified subsidiaries which is partially offset by the increase in pre-tax profit.

Net profit was RMB620.4 million (US$96.1 million) for the second quarter of 2021, compared with RMB454.0 million in the same period of 2020.

Net profit attributable to ordinary shareholders of the Company was RMB626.4 million (US$97.0 million) for the second quarter of 2021, compared with RMB456.7 million in the same period of 2020.

Diluted net profit per ADS was RMB2.11 (US$0.33) and diluted net profit per share was RMB0.42 (US$0.07), an increase of 40.7% year over year. Non-GAAP diluted net profit per ADS was RMB2.17 (US$0.34) and Non-GAAP diluted net profit per share was RMB0.43 (US$0.07), an increase of 42.8% year over year. Each ADS represents five ordinary shares of the Company.

As of June 30, 2021, the Company had cash and cash equivalents of RMB2,801.8 million (US$434.0 million) and short-term investments mainly in wealth management products of RMB2,056.0 million (US$318.4 million).

The following table provides the delinquency rates for all outstanding loans on the Company’s platform in China’s Mainland as of the respective dates indicated.

As of	15-29 days	30-59 days	60-89 days	90-119 days	120-149 days	150-179 days
March 31, 2019	0.80%	1.61%	1.45%	1.29%	1.31%	1.20%
June 30, 2019	0.86%	1.42%	1.37%	1.19%	1.26%	1.21%
September 30, 2019	0.90%	1.50%	1.35%	1.31%	1.17%	1.20%
December 31, 2019	1.34%	2.40%	1.86%	1.76%	1.62%	1.53%
March 31, 2020	1.34%	3.03%	2.33%	2.44%	2.64%	2.17%
June 30, 2020	0.71%	1.36%	1.70%	2.00%	2.75%	2.38%
September 30,2020	0.46%	0.72%	0.74%	0.90%	1.07%	1.43%
December 31, 2020	0.35%	0.55%	0.48%	0.52%	0.49%	0.55%
March 31, 2021	0.29%	0.52%	0.43%	0.39%	0.38%	0.36%
June 30, 2021	0.30%	0.45%	0.39%	0.32%	0.36%	0.33%

The following chart and table display the historical cumulative 30-day plus past due delinquency rates by loan origination vintage in China’s Mainland for all loan products facilitated through the Company’s online platform as of June 30, 2021:

Click here to view the chart.

Business Outlook

With the COVID-19 recent resurgence in China and other regions around the world, the Company will continue to closely monitor the situation of the pandemic and remain vigilant in its business operations. As such, the Company holds a cautious view on its operations and anticipates steady growth in its transaction volume for the third quarter of 2021, which is expected to be in the range of RMB35.0 billion to RMB37.0 billion.

The above forecast is based on the current market conditions and reflects the Company’s current preliminary views and expectations on market and operational conditions, the regulatory and operating environment, as well as customer and institutional investor demands, all of which are subject to change.

Conference Call

The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 23, 2021 (8:00 PM Beijing/Hong Kong time on August 23, 2021).

Dial-in details for the earnings conference call are as follows:

United States (toll free):	1-888-346-8982
Canada (toll free):	1-855-669-9657
International:	1-412-902-4272
Hong Kong, China (toll free):	800-905-945
Hong Kong, China:	852-3018-4992
Mainland, China:	400-120-1203

Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for “FinVolution Group.”

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.finvgroup.com.

A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until August 30, 2021, by dialing the following telephone numbers:

United States (toll free):	1-877-344-7529
Canada (toll free):	1-855-669-9658
International:	1-412-317-0088
Replay Access Code:	10159520

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Artificial Intelligence

Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch

Published

4 hours ago

April 26, 2024

CISION (PR Newswire)

PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.

“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
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“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
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Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearchMr. Ketan Rohom360iResearch Private Limited,Office No. 519, Nyati Empress,Opposite Phoenix Market City,Vimannagar, Pune, Maharashtra,India – 411014.Email: [email protected]: +1-530-264-8485India: +91-922-607-7550
To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.
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Artificial Intelligence

Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms

Published

10 hours ago

April 25, 2024

CISION (PR Newswire)

MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.

SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]

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Artificial Intelligence

Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

Published

16 hours ago

April 25, 2024

CISION (PR Newswire)

Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
Logo – https://mma.prnewswire.com/media/2318845/3CLogic_logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/global-insurance-provider-selects-3clogic-to-streamline-ai-and-contact-center-capabilities-with-servicenow-302127739.html