Multinational Banking Leader Deploys AI-Powered Smart Call Deflection to Unclog its Contact Centers, Achieves 70% Reduction in Call Waiting Time
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.ai's team 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.
52%
call containment
70%
reduction in call waiting time
$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.
Our Clients
200+
Fortune 2000 companies Top 4 banks Top 3 healthcare
100M+
Enterprise consumers interact with Kore.ai technology
1M+
Employees use Kore IVAs to automate 1 billion plus interactions across 35+ channels
15%-75%
Automate Rates based on use case
$1B+
In cost reduction delivered to consumer operations since 2015
