How AI Voicebots Are Transforming Bank Call Centers for Customers?

Voicebot in banking – An artificial helper on the customer service line

Conversational bots based on artificial intelligence are an integral part of customer service, whether we want to use them in call centers or remote banking channels. They are increasingly entering the world of banking, offering a completely new level of interaction between customers and financial institutions. These advanced systems, powered by artificial intelligence and natural language processing technology, not only streamline daily service but also redefine our expectations of banking services.

21st century technology – what is an AI voice assistant?

Voicebots are advanced IT systems that use natural language processing (NLP) and artificial intelligence (AI) technologies to interact with users via voice. Unlike traditional chatbots, which communicate via text, voicebots understand and respond to questions and commands spoken by customers.

Voicebot in the bank on the helpline – how does it work?

In recent years, voice communication technology has been developing at a rapid pace. A particularly dynamic progress can be observed in the area of ASR (Automatic Speech Recognition), which is used by AI voicebots. A key element of these technologies’ success is the data used to train speech recognition algorithms. The better the quality of the data, the more perfect the technology. In addition to this, voicebots use speech processing (NLP – Natural Language Processing) and response generation (TTS – Text To Speech) technologies, making them even more advanced technological forms.

Modern banking: How do AI voicebots support customers?

AI voicebots, thanks to their functionality, are already touching on many areas in the banking industry. However, they most notably support customers and employees in the following areas:

Customer Service:

• Answers to Frequently Asked Questions: Voicebots can answer basic questions about banking products, opening hours, branch locations and instructions on using online banking.
• Help Navigating Banking Services: They can assist customers in finding the right services and products, such as savings accounts, loans or credit cards.

Automation of Banking Operations:

• Checking Account Balance: Customers can quickly obtain information about their account balance without having to log into their e-account.
• Bank Transfers: Voicebots can assist with making bank transfers by checking data and confirming transactions vocally.

Personalization of Services:

• Financial Advice: They can provide financial advice, suggest savings or investment forms based on customer data.
• Special Offers and Promotions: They can inform customers about current promotions and offers tailored to their profile and financial history.

Security and Authorization:

• Identity Verification: By analyzing voice, they can verify a customer’s identity, increasing transaction security.
• Notifications of Suspicious Activities: They can immediately inform customers about suspicious activities on their accounts, asking for confirmation or denial of these actions’ authenticity.
• Control Over Account and Card Access: If a customer detects unauthorized access to their account, they can change the access password with the help of the voicebot and in case of card loss or theft, block it or request a new one.

Managing Complaints and Claims:

• Logging Complaints: Voicebots can take complaints about technical issues, incorrect transactions or other matters requiring bank intervention.
• Tracking Complaint Status: Customers can obtain information on the status of their complaints or reports without contacting a live consultant.

Assisting Consultants:

• Preparing Preliminary Information: Voicebots can collect preliminary information from customers before redirecting them to the appropriate consultants, reducing service time.

AI automation in banking: Successful voicebot implementations

The latest addition at mBank is the voicebot Marek, which is already answering calls on the mLine. Its implementation process was planned so that it could handle customer issues from start to finish. For cases beyond its competence, bank employees provide support. Ultimately, this professional voice bot on the helpline will handle 20% of incoming voice calls.

Since 2021, Alior Bank has been using a voicebot named InfoNina, which replaced the traditional voice menu. Since May last year, InfoNina has been providing information about the bank’s products and services, handling nearly 30 different informational processes and each day it answers about 8,000 calls, handling 10% of them independently. The average call time reduction of about 10% is due to the abandonment of the traditional voice menu. Looking at more precise statistics, the bot correctly redirects to a consultant in over 90% of cases and recognizes customer intentions with nearly 80% accuracy.

“In PKO Bank Polski, we massively use artificial intelligence for customer contact. And the impressive number of 25 million conversations with our voicebots shows that customers have become accustomed to this form of communication and are eager to use it,” assures Dawid Kin, Director of the Artificial Intelligence Development Office at PKO Bank Polski. This largest Polish bank does not rest on its laurels and also introduces new AI-based solutions to shorten customer service time and relieve employees of some tedious and monotonous tasks. These technologies are also a key element of the bank’s digital transformation.

AI voice assistants are becoming increasingly popular and find applications in various areas of banking operations, from customer service to debt collection and employee support. These technologies help banks adapt to customer needs and streamline service processes.

EasyCall has been creating advanced voicebots for various industries for years. Thanks to our solutions based on the latest artificial intelligence technologies, your company can significantly improve communication with customers. Our voicebots are not only effective in recognizing and processing speech but also in generating natural responses, ensuring smooth and efficient service. EasyCall guarantees professionalism and reliability, allowing you to focus on developing your business while leaving customer service in the hands of our experts. See how our solutions can revolutionize your company!