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CASE STUDY

Multinational Banking Leader Deploys AI-Powered Smart Call Deflection to Unclog its Contact Centers, Achieves 70% Reduction in Call Waiting Time

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The Customer

The New York-based multinational banking and financial services conglomerate serves over 200 million accounts, 2,500 branches, and operates in 160 countries.

Challenge

The bank’s customer support interactive voice response (IVR) could not contain more than 40% of its callers’ inquiries on lost and stolen cards, balance transfers between credit card companies, order cheques, account statements for loans, and more. Operational cost was rising with an increasing volume of support requests that continued to be routed to human agents instead of settling in the IVR.

Solution

The bank’s IT team along with Kore built a smart call deflection and virtual assistant system that empowered the customer support program with an omnichannel presence. Now, the customers are served 24X7 via voice (IVR) or text (virtual assistant) channel. Customers are given an option to be served by a virtual assistant for their routine queries related to credit card and banking transactions.

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52%

call containment
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70%

reduction in call waiting time
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$9M+

saving in operational costs over two years

 

Banking customer service often involves repetitive queries and transactions which can be automated easily to deliver faster service and save human agent time and cost. Read the case study to find out how you can automate the most common tasks.

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Our Clients

100+

Fortune 500 companies 

Top 4 banks, Top 3 healthcare

70m

Enterprise consumers

interact with Kore tech

500k

Employees use Kore bots

automate 1B+ interactions

15%-75%

Employees use Kore bots

Automation Rates

$500m

In cost reduction

delivered since 2015

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