Financial Giant Transforms Customer Service Enablement with Conversational AI Solution

Our client’s main goal was to reimagine and redefine customer journeys using the power of Conversational AI. EvoluteIQ became their trusted ally in this to drive customer acquisition and elevate servicing to new heights within the financial sector with the impact of Conversational AI.

The Results

Increase profit

40% Increase in share of wallet, driven by improved business metrics such as reduced customer acquisition costs, higher conversion rates, and elevated customer satisfaction scores.

Customer Satisfaction

72% Improvement in customer satisfaction scores

Accuracy

33% Decrease in acquisition costs by effectively reaching customers on their preferred channels, namely mobile and voice.

Quote

McKinsey perspective

Businesses are rapidly adopting conversational AI, proactive nudges, and predictive engines to transform every point of the customer service experience.

EIQ Features Used

The Challenge:
Transforming Customer Journeys for a Mobile-Centric Clientele in the Loan Sector

As a leader in the loan sector, our client boasts an extensive portfolio encompassing personal loans, consumer durables loans, business loans, home loans, and loans against property. Their digital transformation initiative prompted a need to revamp customer journeys for loan application, servicing, and closure, with a specific focus on an increasingly mobile-centric clientele.

Our Solution:
Next Gen Customer Service: The Power of Conversational AI in the Financial Sector

EvoluteIQ Intelligent Business Automation for Next Gen Customer Service Enablement

Our team developed a comprehensive Conversational AI system tailored to this financial giant’s requirements. It addressed a spectrum of needs, from simplifying FAQs to expediting loan application processes and handling servicing requests. This solution harnessed speech recognition, natural language understanding, and text-to-speech technologies for effortless interactions.

From addressing general and product-specific queries to facilitating product discovery and lead generation, the AI seamlessly facilitated the entire loan lifecycle, from application to approval. Additionally, it efficiently managed servicing requests, including critical tasks such as password resets, account balance inquiries, loan repayments, interest certificate issuance, and comprehensive insights into fees, charges, and credit scores.

With our Conversational AI solution, this financial leader empowered customers to access information, initiate loan applications, and seek assistance seamlessly. This transformation enhanced customer satisfaction and positioned the institution as a pioneer in delivering next-gen financial services.

Are you ready to transform how your business operates?

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