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In today’s fast-paced digital world, banking is experiencing a remarkable transformation propelled by the immense potential of artificial intelligence (AI).
For years, banks have struggled with the challenge of effective customer communication.
Traditional methods have often fallen short, being too impersonal and slow to address each customer’s unique needs.
As well as this, employees have been reluctant to chase banking clients for outstanding debts, and it has led to low retention rates.
However, AI redefines how banks communicate with their customers, making interactions more efficient, personalized, and secure.
“Banks have always wanted to improve how they interact with customers, but the tools just weren’t there,” explains Nicolas Diaz, the President and Founder of domu.ai
The platform provides automated communication for banks, insurance companies, and fintech businesses, enabling them to liaise with debtors, clients, and potential customers.
Diaz adds: “With AI, we can now provide a level of personalization and efficiency that was previously impossible.”
Domu.ai uses AI to create a more intuitive and responsive customer service experience.
It has the ability to deliver highly personalized customer interactions. And the platform can also save banks vast amounts of time and money.
“I love saving people time,” states Diaz. “For example, through our client work, we’ve saved over 1.5 million hours of manual labor. This is particularly meaningful to me because wasting time has always been frustrating. Knowing that our solutions save so much time for so many people is extremely gratifying.”
Diaz, who is highly skilled in technical engineering and entrepreneurship, created the system himself.
Since he was a teenager, he has been passionate about coding, designing his own games aged 13.
And his desire to be an entrepreneur was already blossoming – Diaz was selling soccer posters at high school, making around $100 to $150 a week, which was a significant amount for him at the time: “These experiences reflect two main aspects of my early life,” he says.
“A passion for selling to earn money and a deep interest in games and computers, always trying to build something new.”
Fast-forward to today, and domu.ai is valued at $1.8 million. Diaz is considered a leading expert in the innovative field of AI-automated communication.
“I enjoy the challenge of scaling out technologies so millions of people can interact with them,” he says.
“For instance, we started with just 5,000 calls per month a year ago, and now we handle over 6 million calls per month.
“Adapting our technology, infrastructure, and team to this growth has been incredibly challenging and deeply rewarding. I love facing these challenges and am grateful for the opportunities they bring.”
Diaz was inspired to create domu.ai after having multiple negative experiences with banks due to their poor customer service and inefficient claims processes: “These experiences were not user-centric at all,” he says.
“I was determined to make the financial system more customer-friendly, faster, and better at addressing customer needs.”
There is no doubt Diaz has achieved significant success with domu.ai since its launch.
Their client list includes some of the largest operations in the world spanning enterprises in the US, Chile, Colombia, Peru, Mexico, Brazil, and Argentina.
Notably, it provides AI services for major financial institutions, including Skandia, BBVA, BNP Paribas Cardif, and SBS Insurance, which demonstrates Diaz’s impact on the industry.
Typically, each client saves between 5,000 and 10,000 work hours per week, and Diaz and his team manage around 100,000 clients per enterprise each week.
One notable success story is from the first month of implementation, the company recovered $1.5 million for a client.
On average, clients collectively save over $50 million. This demonstrates the substantial impact of Diaz’s solutions on large-scale operations.
Domu.ai uses generative artificial intelligence and advanced machine learning unlike generic automated systems. Each interaction can be tailored to meet the customer’s specific needs.
“Imagine receiving a call from your bank about a missed payment. Instead of a cold, scripted message, you get a friendly, personalized reminder that addresses the issue and offers practical solutions tailored to your financial situation,” says Diaz.
“This is the power of domu.ai. Personalization is key. When customers feel understood and valued, their trust in the bank increases. This not only helps in resolving issues more efficiently but also enhances customer loyalty.”
Another critical factor behind the success of domu.ai is its seamless integration with existing banking systems. Diaz and his team have designed the platform to be easily adaptable, ensuring that banks can implement it without significant disruptions to staff and current systems.
“The aim when I designed the platform was to alleviate the frustrations of repetitive manual tasks in collections, expand globally, and continue to amaze and educate both clients and personal connections with our innovative technology,” he says.
“Offering banks flexibility is crucial, especially in an industry where regulatory requirements and legacy systems often pose significant challenges.”
Domu.ai is also capable of handling a vast number of interactions simultaneously and removing tedious and repetitive tasks,
Diaz says: “Employees find it frustrating to manage multiple Excel sheets, download procedures, and perform repetitive manual tasks like copying and pasting information. This kind of work can be monotonous and frustrating.”
He adds: “For supervisors overseeing these operations, the frustration lies in knowing that their team dislikes their tasks, leading to poor morale and performance. They feel stuck and unable to improve the process or show better results to their bosses as they are unaware of alternative methods. Domu.ai can alleviate those frustrations and bring more positivity into the workplace.”
One of the key areas Diaz’s platform is changing traditional banking is debt collection.
Traditionally, this has been a challenging and often unpleasant aspect of banking. However, with domu.ai, Diaz is turning this process on its head. The platform uses AI to interact empathetically and effectively with customers who owe money.
“Debt collection doesn’t have to be confrontational,” Diaz explains. “With AI, we can better understand the customer’s situation and offer solutions that work for them, such as flexible payment plans or financial counseling. This improves the recovery rate and maintains a positive relationship with the customer.”
Diaz’s vision for domu.ai extends beyond improving customer communication. The platform’s capabilities can be applied to a wide range of banking functions, driving innovation across the financial services sector. For instance, domu.ai can automate calls and the necessary back office required for debt collection.
For example, we keep track of which customers have paid or not, which ones we have already contacted, and which ones still need to be contacted.
Daniel Bilbao is the Co-Founder of Truora, a platform that offers automated support for businesses with their customers.
He has been working with Diaz for the last two years: “Nicolas is an expert in artificial intelligence and also a very rare breed,” Bilbao reveals.
“He’s very strong on the technical side, meaning he has an in-depth coding knowledge. But he’s also very strong from a business standpoint. Nicolas is very strong in business development, sales and operations. “For an individual to have those both of those skill sets is very, very unusual.”
Bilbao adds: “If you compare Nicolas, to a very strong engineer, he would be much stronger than a typical engineer. And when you compare him with a typical business founder, he is also much stronger than them!”
This was reflected in Diaz’s capability when he first started domu.ai. Bilbao recalls: “He closed 10 enterprise customers while they were a three-person company. That is absolutely amazing. Very few companies, let alone a three-person team, do that in their first two years! This just demonstrates Nicolas’s ability. It’s quite impressive.”
Camila Zancanella collaborates with Diaz as the Co-owner of domu.ai. They were introduced by one of the Co-Founders of Rappi, a tech company similar to Doordash and Instacart, dedicated to promoting e-commerce adoption in Latin America. Diaz invited Zancanella to join him at domu.ai.
“When we began our journey to become founders three years ago, one of Nicolas’s primary goals was to impact people’s lives,” she says.
“I know it might sound cliché, but it’s true. He comes from a modest background and has faced significant challenges. Growing up without much money, he learned how to code without family financial support.
“Nicolas has always wanted to provide others with the opportunities he didn’t have. He wants our company to make a real difference in people’s lives. While our current work is focused on corporate clients, limiting our direct impact on individual consumers, our past projects reflect this vision.”
She adds: “For example, we developed technology to help people find jobs and worked on blockchain projects to reduce transaction costs for people living abroad.
“Though our current use case is specific to corporate companies, I believe it’s only a matter of time before Nicolas finds a way to extend these opportunities to more people, empowering them in the same way he wished he had been empowered as a child.”
There is no doubt Diaz’s background as a technical engineer, and entrepreneur has equipped him with the skills and knowledge necessary to develop groundbreaking solutions for the banking industry.
Under his leadership, domu.ai has quickly gained recognition as a leader in AI-driven customer interaction. Diaz’s commitment to excellence and continuous improvement ensures that the platform remains at the forefront of technological advancements, consistently delivering value to banks and their customers.
As AI continues to evolve, the potential for platforms like domu.ai to transform the banking industry is limitless.
Diaz says: “We are constantly exploring new ways to enhance the platform’s capabilities, ensuring that banks can stay ahead of the curve in an increasingly competitive landscape.
“Our primary challenge is global expansion. We are running pilot programs in Africa, Europe, and Asia to establish ourselves as a global company. Our goal is to operate in over 100 countries, providing our services worldwide.”
He adds, “I view every problem as an opportunity to improve the world by saving people’s time. Professionalism, determination, and optimism define my approach to client relationships.
“My main aim is to eliminate the hassle of repetitive manual tasks in collections, expand our reach, and keep impressing and educating our clients and personal networks with our cutting-edge technology.
AI is transforming banking communication, and Diaz’s domu.ai is at the forefront of this revolution. By offering personalized, secure, and efficient solutions, domu.ai is setting new standards for how banks engage with their customers.
About Nicolas Diaz
Nicolas Diaz is a distinguished entrepreneur and technical engineer renowned for his groundbreaking contributions to artificial intelligence in the financial sector. As the founder and CEO of domu.ai, Diaz has revolutionized how banks manage debt and interact with customers through advanced AI solutions.
In 2021, Nicolas was selected from over 600 applicants for the prestigious Makers Fellowship in Bogota, Colombia, marking the start of his rise in the tech world. In 2022, his work with the Mina Protocol earned him multiple grants totaling $25,000, and he won the Eth Global Mexico Hackathon, securing a $4,000 prize for his innovative solutions.
Image credit: Camila Zancanella
Nicolas’s leadership and expertise have been acknowledged by prominent organizations. In 2024, he joined Y Combinator’s Summer Batch, placing him in the top 1% of founders receiving their investment and support. Additionally, Endeavor chose him as a mentor for his knowledge in generative AI and financial applications, cementing his reputation as a thought leader.
His authority in the tech community is further demonstrated by his roles as a judge at events like Stanford’s TreeHacks and Y Combinator’s application process. His company, Domu Technology Inc., has become a core AI services provider for major financial institutions, including Skandia, BBVA, BNP Paribas Cardif, and MetLife, highlighting his impact on the industry.
Nicolas began his career with a high-paying role at Cerebrum LLC as an independent contractor from 2021 to 2023, placing him in the top 1% of professionals in Colombia. In 2024, Y Combinator’s substantial investment valued his company at $1.8 million, of which he owns 50%.
Nicolas Diaz’s journey reflects his relentless pursuit of innovation and excellence. His contributions to AI and financial technology continue to shape the future of banking, making him a pivotal figure in the industry.
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