Use Case Overview

Banks now face rising remote service demands while aiming to boost customer loyalty. Challenges include long wait times, falling satisfaction scores, and managing real-time social media feedback.

Kore.ai Bank Assist provides an enterprise virtual assistant to automate accurate, natural conversations. This streamlines critical banking functions like opening accounts, transferring funds, reporting lost cards, and investment guidance.

Seamless integration with digital channels allows Kore.ai Bank Assist to redefine banking interactions. The platform makes customer experiences intuitive, efficient, and satisfying.

Challenges/Pain Points

• Challenging account Opening – Banks face the challenge of guiding customers through the detailed steps required to open a bank account, educating them about account types and compliance formalities.

• Complex Fund Transfers – Multistep fund transfer processes, involving payee selection, balance checks, and transaction initiation, lead to confusion among customers.

• Lost Cards and Disputes – Customers often require urgent help for lost card reporting and transaction disputes, which can cause frustration during these stressful events.

• Limited Digital Engagement – Current web and mobile channels lack interactivity, missing chances for upsell/cross-sell and providing boring customer experiences.

Solution Overview

Kore.ai Bank Assist leverages cutting-edge conversational AI technology to revolutionize banking services. Using natural language interfaces, it guides customers through account opening, fund transfers, and dispute resolutions seamlessly. The platform’s conversational IVR capabilities reduce the need for real agents, ensuring 24/7 assistance.

Kore.ai Bank Assist’s intelligence understands customer needs, credit status, and transaction history, facilitating upsell and cross-sell opportunities. Moreover, it offers global support in over 100 languages, quick localizations, and mid-conversation language switching, ensuring a personalized experience for customers across diverse regions.

Benefits

• Enhanced Efficiency – Kore.ai Bank Assist optimizes workflows, significantly accelerating account opening and simplifying fund transfers, thereby dramatically cutting the time required for transactions.

• Improved Customer Experience – Customers enjoy instant, contextual information without confusing menus or long wait times, ensuring a seamless interaction experience.
• Cost Savings – By automating routine queries, the platform saves significant live agent time, enabling them to focus on more valuable tasks.
• Global Support – Offering support in over 100 languages (including the Arabic Language) and swift localizations, Kore.ai Bank Assist ensures a personalized, global customer experience.
• Security – The platform employs top-tier security protocols and enterprise-level encryption, safeguarding sensitive customer data and transactions.