Driving Faster Customer Query Resolution for a Leading Indian Bank with Virtual Agent
Discover how Quantiphi helped a leading Indian bank efficiently handle annual call volume of ~50 million
About the Client
The client is one of India’s large private sector banks, serving a high-volume customer base across retail banking products and services. With a large volume of customer interactions to manage, the bank needed a more scalable way to handle routine support requests while maintaining service quality.
Problem Statement
The bank faced a critical need to enhance its customer support operations. With approximately 10 million customer support calls annually, primarily for repetitive queries like loss of card, fund transfers, and statement requests, the existing system was strained. This high volume necessitated a large workforce of around 10,000 call agents, many of whom were engaged in tasks that could be automated, leading to inefficiencies and potential customer dissatisfaction. The bank sought a rapid-response virtual assistant, integrated with their existing Genesys Intelligent Automation (GIA) system, to provide quality, round-the-clock support and improve overall customer experience.
The Challenge
The bank encountered several key challenges:
- Inefficient Resource Allocation: Human agents were frequently tied up with basic queries, diverting their attention from more complex customer needs.
- Suboptimal Customer Experience: Users with basic questions often preferred to wait for a human conversation rather than navigate through the existing Interactive Voice Response (IVR) system, indicating a desire for more natural and effective communication channels.
- Scalability and Availability Gaps: The bank required a solution capable of providing rapid, high-quality, and round-the-clock support to effectively manage the large influx of queries and ensure consistent service.
- Technical Limitations: Specific challenges included the wide variety of customer utterances and limitations in the Genesys Intelligent Automation (GIA) speech-to-text accuracy, particularly for short phrases and its over-sensitivity to small background noise.
Quantiphi’s Solution
Quantiphi partnered with the bank to develop and deploy an advanced, AI-powered virtual agent, seamlessly integrated with Genesys Intelligent Automation (GIA). The solution was designed to validate customer information and resolve common queries related to statements, address changes, and lost cards in multiple languages.
Key Capabilities of the Solution:
- Intelligent Virtual Agent Development: We built a robust virtual agent, initially trained on approximately 15 core use cases, which has since expanded to handle 80 distinct customer use cases across various banking services.
- Multilingual Support: The virtual agent was equipped with comprehensive language support for both English and Hindi, addressing specific use cases such as ‘PL Cross Sell’ in English and ‘EMI Hold Back’ in Hindi, ensuring broad accessibility and catering to the bank’s diverse customer base.
- Seamless System Integrations: To provide a holistic and effective service, the virtual agent was integrated with critical banking systems:
- Salesforce CRM: Integration with the bank’s Salesforce CRM (sandbox environment) enabled the agent to access and validate customer information, facilitating personalized and context-aware responses.
- Voximplant Telephony Gateway: Configuration with Voximplant Telephony Gateway allowed the virtual agent to seamlessly handle voice interactions, providing a natural conversational experience.
- Genesys Intelligent Automation (GIA): Deep integration with GIA was central to validating customer information and automating query resolution workflows.
- Performance Analytics: Leveraging native Dialogflow analytics, we established continuous monitoring and optimization processes to ensure the virtual agent’s ongoing improvement and efficiency.
Technical Architecture
- Dialogflow (Google Cloud Platform): For natural language understanding (NLU) and virtual agent development.
- Genesys Intelligent Automation (GIA): For customer validation and workflow automation.
Dialogflow
Google Cloud
Google Cloud
Genesys Intelligent Automation
Results and Impact Created
The implementation of Quantiphi’s virtual agent solution delivered significant, measurable improvements across the bank’s customer service operations, transforming efficiency and customer satisfaction:
- Enhanced Efficiency & Scope: The virtual agent now effectively handles upto 80 use cases in multiple languages, significantly reducing the workload on human agents and allowing them to focus on more complex customer issues.
- Rapid Query Resolution: The average query resolution time was dramatically reduced to less than 1 minute, providing customers with instant support and a superior experience.
- High Accuracy: An impressive upto 86% of queries are answered correctly by the virtual agent, building customer trust and minimizing the need for human intervention.
- Improved Customer Experience: The provision of rapid, accurate, and 24/7 support led to a substantial improvement in overall customer experience and fostered positive customer sentiment.
- Scalability & Capacity: The solution is designed to manage a significant portion of the bank’s annual call volume, contributing to the efficient handling of approximately 50 million customer interactions.
Conclusion
By leveraging advanced AI and seamless integrations, Quantiphi empowered the leading bank to revolutionize its customer support. This intelligent virtual agent not only optimized operational costs and agent efficiency but also significantly enhanced the overall customer journey, setting a new benchmark for intelligent, multilingual banking services.