How to Meet Older Customers Where They Are With AI Technology

AI is increasingly relevant in the reverse mortgage industry, offering tailored solutions for senior clients. Bill Packer from Longbridge Financial discusses how adapting AI can overcome biases and improve service for older customers.

Artificial intelligence (AI) is truly everywhere these days, and its presence in the reverse mortgage industry is only growing stronger. In fact, AI is proving to be quite the game-changer. Bill Packer, who serves as the chief operating officer at Longbridge Financial, emphasized the importance of adapting AI technology specifically for older clients.

He argues that by catering these systems to seniors, businesses can effectively address the common perceptions of bias that sometimes surround financial institutions. This, he believes, ultimately leads to improved service and a more personalized experience for older customers.

Furthermore, AI can help bridge the gap by simplifying complex financial products and making them more accessible for seniors. With clearer information and customer service tailored to their needs, older clients might feel more secure and understood, something crucial in today’s market.

As AI technology continues to evolve, the potential for it to positively impact senior services in the financial sector expands. Companies willing to rethink their approach and integrate AI can not only enhance interactions with older customers but also foster a new wave of trust in financial services. Arguably, the reverse mortgage industry stands to benefit immensely from this shift if done correctly.

In summary, AI’s growing role in the reverse mortgage industry holds promise, especially for senior customers. By customizing AI systems to address the unique needs and concerns of older clients, companies can dismantle biases and enhance service quality. Bill Packer’s insights highlight the potential of AI in making financial products more comprehensible and accessible, forging stronger connections between businesses and the older demographic.

Original Source: www.housingwire.com