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ComplyChat AI bot for PSP Lab

For PSP Lab, a FinTech consultancy in London, we delivered a digital transformation and AI chatbot that is fine-tuned based on FCA guidance. Our standout contribution, the AI-driven ComplyChat, offers instant FCA-based advice, enhancing client engagement. This, along with a responsive website and strategic SEO, propelled PSP Lab to high Google search rankings, underlining their market prominence in FinTech consultancy.

industry

Consulting, Business Services

client name

PSP Lab

year of completion

2023

country

UK

Project overview

PSP Lab, a prominent UK-based FinTech consulting firm, specialises in guiding clients through the intricacies of licensing, compliance, software, and business development in the UK and beyond. With extensive experience in payment solutions, cryptocurrencies, and banking software, PSP Lab provides comprehensive strategies for market entry, earning its top spot in Google search results for its niche.

Challanges and problems

Originally, PSP Lab, a micro-firm operating in a highly specialised domain, relied heavily on referral sales and personal networks. However, to adapt to changing market dynamics, they recognised the need for a revamped online strategy. The objective was to enhance the user base with a new digital product (AI Compliance Chat), achieve the top position in Google searches, enhance online visibility, and generate more leads.

Our solution

Swaileap partnered with PSP Lab to develop and implement a holistic digital strategy which included a new product development integrating and fine-tuning an AI model and achievement of Google TOP3 positions using content strategies and optimised website. The outcomes of this strategic partnership resulted in dominance in searches across most keywords; acquisition of larger and more significant projects, including high-profile clients like 1Inch and Binance; industry recognition and establishment of promising partnerships with KYC providers, banking software companies, and others.

Key features

  1. A fresh identity design was created to highlight PSP Lab’s unique advantages and appeal to its target audience.
  2. A fast, mobile-first, and easily manageable website was developed, featuring SEO-optimised content.
  3. An innovative AI chatbot “ComplyChat” providing instant FCA-based recommendations to clients.

Increasing sales with online presence

PSP Lab, as a niche FinTech consultance with a focus on regulatory aspects, has to show its prominent expertiese with facts and in-deep knowledge of the sphere. The differentiation had to be understandable from the first touch of the client with the website.

PSP Lab founder, Dmitrijus, had a bias that clietns could only come from industry connections and recommendations. As it appeared, this was not the case. Clients were searching on the web, however, other competitors did not have such in-deep experience and and content about FCA regulations for PI/EMI licensing, crypto and software. With a great looking website, we converted incoming SEO traffic into warm leads using right page structure and automated marketing funnels.

ComplyChat – AI chat finely tuned on FCA guidance 

PSP Lab team had a prominent idea on how to embrace new technologies that could embark more clients and also fasten the delivery process. During the discovery phase, we realised that ComplyChat could be a separate startup, making it possible to serve smaller clients and take its own niche.

We developed a PoC utilising Vercel server, which made it easier to deploy and manage the technical part of the project. It is also very convenient to work with open source AI models, integrating them into web projects.

ComplyChat as a legal advice tool, could give insights and simple answers to complex questions about FCA regulations in real-time.

Versions

MVP Version: The MVP of ComplyChat focuses on core features to validate the concept and gather initial user feedback. This includes single Chatbase or Vercel bot integration, user registration and profile creation, a simple billing functionality linked to a payment service provider (Stripe), essential information pages (Terms of Use & Privacy Policy), a Contact Us form, and a simplified user interface using Material Design. 

Full Version: The full version includes the features from the MVP, plus a range of additional functionalities. This includes the integration of multiple specialised Chatbase bots, a smart routing algorithm, multi-chat functionality, a FAQ bot, and an enhanced user interface. 

API Integration with Multiple Bots

Given the symbol limitation in Chatbase (6M symbols), we have created multiple bots, each specialised in different areas of law. The ComplyChat app can seamlessly integrate with these multiple bots through the provided Chatbase API. Users are able to access and interact with any of these bots from within the app.

Smart Routing Algorithm

We developed a smart routing algorithm to identify and direct the user’s query to the most qualified bot based on the nature of their question. This optimised response accuracy and ensure efficient use of the bots.

Multi-Chat Functionality

Same as with ChatGPT, users have the ability to initiate and maintain multiple chats simultaneously. Each chat is a separate and can maintain its history for easy reference. This allowed users to address different topics or issues without confusion or overlap.

User Registration and Profile Management

The application includes a registration system where new users can accept PSP Lab’s Terms of Use and Privacy Policy. After registration, users are able to create and manage their profiles. 

Billing Functionality

ComplyChat is ot only an internal tool, but also a for profit business, so it required a secure billing system to manage subscriptions, process payments, and handle the transition from a free trial to a premium subscription.

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