New Way Now: albo empowers financial inclusion with AI and Google Cloud.
10Featured in this video: Ezequiel Guilleron, CTO, albo
Executive Summary: Mexico-based fintech company albo uses Google Cloud to fulfill their mission to provide financial freedom for everyone, everywhere. Having built their entire company information on the Google platform since its inception, albo leverages Google Cloud's AI capabilities, including Gemini, to serve millions of customers at significantly reduced costs and extend financial inclusion to previously underserved populations. They use AI for all aspects of customer interaction, from onboarding and support to providing financial advisory through a 24/7 chatbot.
Challenge: albo faced the significant challenge of serving millions of customers at very low costs. Many of these individuals previously lacked financial expertise or even a basic bank account, so algo needed to scale up education and serve them effectively beyond what human resources alone could do.
Solution: albo adopted an AI-first strategy, building its operations on Google Cloud's platform. They implemented AI, primarily Google's Gemini, to automate critical processes such as customer onboarding, support, and financial advisory. A key component of their solution is Albot, an AI-powered chatbot that functions as both a 24/7 financial advisor and customer support agent, serving as the first point of contact for users. AI is also vital for analyzing documentation and reports to ensure large-scale regulatory compliance. The existing foundation of their company data on Google Cloud made it easy to integrate these AI solutions.
Results: Through its partnership with Google Cloud and the strategic use of AI, albo has successfully reduced customer service costs while expanding its reach to millions. They have significantly advanced financial inclusion and education for underserved populations, many of whom are opening their first bank account through albo's simple mobile application. Albot provides customers with round-the-clock access to financial advice and support. And AI has enabled efficient and high-scale regulatory compliance, allowing albo to process and utilize data effectively without the need for extensive extraction.
Key Insights from Ezequiel Guilleron, CTO, albo:
→ "The best advice I can give is to think about your customer, then think about your data and then think of your solution."
→ “It’s really challenging to build and scale as a startup. Choosing the right partners is really important. It’s been really helpful having Google as a partner.”
→ "The chatbot is based on Gemini. It's for financial advising and for customer support. We don't have people in the first contact. Always AI first.”
→ "Using Google Cloud and using Gemini was really easy to integrate and to create solutions that create an automation."
Google Cloud products used: Gemini, Vertex AI, Google Workspace