Depending on the size of your financial institution, you likely employ a team of folks in your contact center that you rely on to address a wide array of customer and member questions. While this team offers the advantage of resolving problems with a keen knowledge of your business and relative swiftness, they can quickly become overwhelmed by the volume of incoming queries. That’s where an intelligent digital assistant, or IDA, steps in. An IDA can reduce contact handling volume by answering detailed questions and decreasing the number of inbound requests that need to be handled by your customer and member care agents. This lets your human team focus on the most critical issues and highest-value interactions. Utilizing an intelligent digital assistant gives you tangible benefits and valuable results in your consumer-facing digital experiences.
Why Use an IDA in Your Contact Center?
A digital assistant significantly reduces the number of requests that need to be managed by your contact center, which helps you to reduce costs, set your staff up for success, and provide constant communication between your customers and contact center employees. Let’s investigate these benefits to learn why an IDA might be perfect for your financial institution’s contact center.
Recent McKinsey research suggests that the average 500-agent contact center in North America allocates around $2 million of staff time to coaching activities every year. Even if your contact center is only a fraction of that size, you’re likely spending valuable dollars and time continuously educating your team and developing their skills.
While you’ll still need some form of high-level human oversight, IDAs are intelligent enough to provide answers and education to your customers on most issues. Kasisto’s KAI can help you to reduce servicing costs by 10% or more by handling at least 88% of customer interactions without handing them off to a human agent.Intelligent digital assistants are automated right out of the box and, when pre-integrated with one of our digital banking partners, require no IT support to introduce. With the right team and focus, you can introduce your new digital teammate, and in just a few short weeks, you’ll have everything you need to reduce costs and realize more strategic value from your contact center.
Set Your Staff Up for Success
An intelligent digital assistant handles most customer and member inquiries across digital entry points, such as web, mobile, online banking, and chat. This omni-channel approach acts as a retention wall to keep common banking questions from even entering your contact center.
In its 2018 Future of Work report, consulting firm Korn Ferry predicted a worldwide talent crunch by 2030, with the effects of a labor shortage being felt as early as 2020. Compounded by the Great Resignation, banking staff shortages are rising, and financial institutions are looking for other solutions to address their immediate needs.
With IDAs powered by KAI, not only are 88% of conversations managed by the platform with no human interaction but should a question require contact center assistance, KAI ensures a seamless handoff to your live agents. This allows your staff to focus on things only they can do, and in turn, can raise employee satisfaction.
Provide Consistent Communication
The digital literacy level of consumers continues to rise, and the general population is more aware of how their finances operate. The average consumer is no longer satisfied or impressed with simple, robotic chatbots. They need something that replicates and exceeds a human agent’s service and conversational approach. Recent research has shown that consumers are more open to receiving “bad news” from artificial intelligence than humans. Whenever you need to communicate some less-than-pleasant news, IDAs can provide a layer of pre-determined insulation for your brand experience. An IDA can also guide your customers and members to long-term financial health. By acting as your best-branded banker, IDAs powered by KAI will not only resolve consumer issues but also provide personalized and thoughtful follow-up solutions uniquely tailored to each individual.
Get to Know KAI
Intelligent digital assistants are better than a traditional service chatbot in every way – they have a more comprehensive knowledge base, can provide personalized financial suggestions, and will drive increased customer and member satisfaction.
You can enable your employees to continue providing best-in-class care while taking the load off their shoulders, reducing high service costs, and providing consistent communication between your consumers and contact center agents.
KAI, our bank-smart conversational AI platform, makes all of this possible. KAI provides intuitive, financially-backed recommendations for all of your consumers. Comprising three unique domains of banking expertise, our AI-powered digital assistants consistently deliver significant value to your organization’s digital experience.
Do digital banking differently by partnering with Kasisto.