Improving Customer Experience for a Banking Customer Using AI Chatbot

Business Problem

A leading banking institution faced significant challenges in managing customer interactions effectively, which hindered its ability to deliver an exceptional customer experience. The bank’s existing legacy chatbot technology was inefficient in handling customer inquiries, resulting in delayed and inconsistent responses. Customers struggled to access important resources on the bank’s external website, such as FAQs, white papers, and support documentation, leading to frustration and dissatisfaction. Additionally, customer support ticket management was ineffective, causing delays in query resolution and impacting overall service quality. Without a streamlined approach to customer engagement, the bank struggled to meet customer expectations, ultimately affecting customer satisfaction and its ability to scale support operations efficiently.

 

Use Case: A leading banking institution improved customer experience by deploying an AI-powered chatbot using the Kore.ai XO Platform. The solution automated responses to inquiries, streamlined ticket resolution, and enabled self-service capabilities, enhancing overall efficiency and customer satisfaction.

Business Solution

To address these challenges, Pronix Inc. implemented an AI-powered Search Bot that revolutionized the bank’s customer experience management. The solution began by crawling the bank’s entire website to create a robust knowledge base, indexing content such as FAQs, white papers, product catalogs, and support resources. This enabled the chatbot to provide accurate and timely responses to customer inquiries. The AI-powered bot was seamlessly integrated into the bank’s external-facing website, allowing customers to interact with the bot for quick resolutions and access to resources. By empowering customers with self-service capabilities, the solution significantly reduced reliance on support teams while enhancing the overall user experience. This transformation ensured that customer interactions were efficient, engaging, and satisfying, aligning with the bank’s objective of delivering exceptional service.

Technical Solution

The AI-powered Search Bot solution was developed using a Retrieval-Augmented Generation (RAG)-based approach, ensuring high accuracy and relevancy in responses. The technical implementation included:
 
  • Open AI Integration: Leveraging advanced AI models to generate accurate, contextually relevant answers from indexed website data.
 
  • Kore.ai XO Platform: Creating an intelligent conversational interface that could scale with the bank’s growing needs.
 
  • XO Automation: Streamlining workflows for ticket resolution and automating routine support processes.
 
  • Web SDK Integration: Enabling seamless interactions between the chatbot and the bank’s digital platforms.
 
  • AWS Hosting: Providing a secure, scalable, and high-performing environment to support the AI chatbot.

Technologies Used

Technologies Used
Kore.ai XO Platform, Search AI, XO Automation, Web SDK, AWS

Customer Success Outcomes

Customer Success Outcomes
The implementation of the AI-powered chatbot delivered significant improvements, including:
 
Improved Customer Experience: Customer satisfaction increased by 40% due to faster and more accurate responses.
 
Enhanced Customer Support Ticket Management: Efficiency in resolving tickets improved by 30%, leading to quicker resolutions.
 
Increased Self-Service Rates: Self-service rates grew by 50%, enabling customers to resolve issues independently.
 
Efficient Customer Interaction Management: The AI chatbot handled 65% of customer inquiries, reducing the workload on support teams.
 
Transformed Digital Experience: Enhanced interactions on the website improved customer feedback by 25%.
 
Reduced Average Handling Time (AHT): AHT decreased by 40%, allowing agents to focus on complex cases.
 
Improved Employee Productivity: Internal productivity increased by 20%, enabling employees to focus on high-value tasks.
 
Improved Information Accessibility: Customers experienced a 45% improvement in finding and accessing resources on the website.

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