RIVERWOODS, Ill.--(BUSINESS WIRE)--
For the second year in a row, Discover has been named a Digital Edge 50 award winner. The company was recognized this year for creating a strategy that leverages artificial intelligence (AI) to improve the customer experience and offer tailored services and programs to help customers manage their finances and make it easier to maintain or improve their credit standing.
With the help of AI, Discover developed a program that used flexible and self-teaching software to more accurately identify and prioritize cardholders who need special assistance with their financial situation. The new program has transformed Discover’s approach to customer service by being able to create customized and timely payment plan options along with reducing the amount of time it takes customers to return to good standing. The program has resulted in a reduction of loan losses, a decrease of outbound calls to customers for late payments and has helped thousands of customers stay on track with their payments.
“Discover is constantly looking to the latest technologies for solutions that will enhance the customer experience,” said Glenn Schneider, chief information officer at Discover. “We are proud of our efforts to leverage distinctive analytics and machine learning capabilities to help customers better manage their financial situation.”
The Digital Edge 50 Award recognizes a select group of organizations that have made strides toward being a digital-centric business. Fifty winners were selected this year. The program is judged by a panel of executive peers, including past winners, who evaluate nominated projects on complexity, scale, business outcomes and innovation. Winning entries are digital transformation initiatives with significant, measurable business impact.
“This year’s class of Digital Edge 50 winners showed a wide range of sophisticated projects. Some involved complete process changes for agile development and innovation, while others empowered new types of customers or employees,” said Anne McCrory, group vice president, customer experience and operations, events, and the Digital Edge and AGENDA19 conference chair. “We also saw companies taking advantage of facial recognition, blockchain and bots, and many uses of AI. And results were just outstanding.”
Discover will formally accept the award at the AGENDA19 Conference held March 18 – 20 in Ponte Vedra Beach, Florida.
Discover Financial Services (DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 190 countries and territories. For more information, visit www.discover.com/company.