AI-Powered Virtual Agent for Streamlining Mortgage Valuation
Banking & Financial ServicesBusiness Impacts
~28K
Total Sessions
150K
Total Queries
72
Average Sessions Per Day
95%
Success Rate
Customer Key Facts
- Country : India
- Industry : BFSI
- About : It is one of the biggest Indian multinational bank headquartered in Mumbai. With 6,000 branches and 17,000 ATMs across India, it offers a wide range of financial services globally. Recognized as a Domestic Systemically Important Bank (D-SIB), it plays a pivotal role in India’s financial landscape
Problem Context
The mortgage unit of a major Indian bank faced challenges in managing and responding to repetitive queries, which were time-consuming and labor-intensive. Maintaining updated information from multiple sources on a single platform was difficult, leading to inefficiencies. The team needed an AI-powered virtual agent to streamline query handling, reduce human effort, and ensure quick, accurate responses.
Challenges
- The mortgage team was looking for an AI-powered ChatBot to answer all the frequently asked questions to reduce human effort and save time.
- Team was facing challenges in maintaining the updated information from multiple source system at a single platform and answering the repetitive queries was very time consuming
Technologies Used
Dialog Flow CX
Big Query
Google cloud Platform
Cloud Functions
Cloud Firebase
PowerBI
Solution
- Virtual agent trained on 10,500 FAQs to respond or redirect users based on simple, repetitive queries for quick resolution
- Creation of an Admin Panel to help upload, download & update responses to existing FAQs for different line of business
- Power BI based dashboard to gauge the performance of virtual agent
Results
High Engagement
- ~28K Total Sessions: Significant user interaction with the virtual agent, demonstrating strong adoption.
- 150K Total Queries: High volume of queries handled efficiently, reducing the workload on human agents.
Daily Usage
- 72 Average Sessions Per Day: Consistent daily engagement indicates the virtual agent's reliability and usefulness in day-to-day operations.
Efficiency and Success
- 95% Success Rate: High accuracy in resolving queries, leading to improved customer satisfaction.
- Time Savings: The virtual agent has significantly reduced the time spent on answering repetitive queries, allowing human agents to focus on more complex tasks.
Improved Information Management
- Unified Platform: Centralized information from multiple sources ensures that the virtual agent provides accurate and updated responses.
- Admin Panel: Facilitates easy updating of FAQs and responses, ensuring that the information remains current and relevant.
Performance Monitoring
- Power BI Dashboard: Provides insights into the virtual agent's performance, enabling continuous improvement and optimization.
