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New SMS bot soft-launches for brokers

mobile technology

mobile technology
Annie Kane 7 minute read

Broker-oriented fintech firm Effi has launched a new SMS tool that automatically sends broker clients follow-up text messages to schedule in follow-up calls and appointments.

Financial technology company Effi (short for “efficiency”) – an “AI-powered digital concierge” currently in beta testing with selected brokers – has announced the soft launch of a new AI-powered conversational bot that communicates with customers automatically via text or email.

The SMS Campaign Bot tool aims to help reduce lead conversion times and streamline interactions with customers by automatically sending texts to clients to schedule a follow-up call or run a specific marketing campaign. 

Utilising artificial intelligence (AI), the tool acts as a personal assistant and can converse with clients to schedule appointments, learning new behaviours with each customer interaction. However, Effi said that if the bot detects an abnormal customer interaction, it will flag the broker to take over the conversation.

The fintech start-up, founded by former HashChing CEO Mandeep Sodhi, says that the new tool and Effi's broader digital concierge service aim to disrupt the broker CRM space, reduce administrative time for brokers, and help make the customer experience more tech-driven.


This is part of Effi’s mission to “create intelligent tools [that] enable brokers to be productive beyond their human limitations, according to Mr Sodhi.

"Brokers have been burdened with day-to-do administrative struggles for years, all in an effort to ensure comprehensive recordkeeping and to meet their necessary financial and compliance obligations," he said.


"This has led to an industry where real, genuine client engagement is king, and for brokers to be able to do this effortlessly while on the move, having access to an intuitive AI-powered solution that learns with each interaction will have a transformational impact on the sector. 

“It is engagement with ease, delivered efficiently across any channel or touchpoint.”

Speaking of the new tool, broker and founder of Sydney-based brokerage Wealthy You, Collins Mayaki, said that the bot had the “ability to drive an engaging conversation in a natural language, which creates the perception that the broker is actively participating in the dialogue”. 

He added that he hoped the technology would enable the brokerage to increase settlements by two thirds (from $12,000 a month to $20,000 per month) in the coming months.

The SMS Campaign Bot is the latest automation tool aimed at helping reduce the time taken to convert leads and communicate with clients.

In 2017, Brisbane-based broker George Samios co-founded a direct-to-voicemail client management and marketing service, TryCall, to help reduce the time taken to engage with customers. 

The subscription-based service enables users to leave direct-to-voicemail messages or broadcasts, send out voicemails that can transfer back to the office/phone number, and undertake surveys. 

TryCall is now run by managing director Glenn Kunning.

[Related: Brokers embrace going digital during COVID-19]

New SMS bot soft-launches for brokers
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Annie Kane

Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Email Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.



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