1. Regulatory Compliance and Reporting

2. High Operational Costs Due to Manual Processes

3. Customer Onboarding Delays and Friction

4. Legacy System Integration Issues

5. Inconsistent Loan Approval Processes

6. Fraud Detection and Risk Management Gaps

7. Data Silos Impacting Customer Insights

8. Cumbersome Payment Reconciliation Processes

9. Compliance with ESG Reporting Standards

10. Limited IT Talent and High Development Costs

Top 10 Common Business Challenges

Result

USD 13 million

Customer containment savings

Continual training of watsonx drives increasing containment rates each year, providing growing cost savings to the organization.

USD 2.4 million

Conversation routing savings

watsonx Assistant routes calls to the appropriate human being, when escalation is required, more effectively, reducing transfers and time-to-resolution

Efficiency from sales agent

The chatbot built with watsonx Assistant provides tailored knowledge and customer context to help agents more quickly address complex questions.

USD 6.7 million

When it comes to digital banking services, consumer expectations are at an all-time high and patience is at an all-time low. Customers expect their financial institution to know them personally, intuitively understand their needs, and accurately provide updates for everything from credit card applications to checking account balances and they don’t want to wait 11 minutes in a queue to get answers. With watsonx Assistant, your customers are empowered to rapidly discover their own answers to a wide range of inquiries.

When a situation does require human intervention, watsonx Assistant uses intelligent human agent handoff capabilities to ensure customers are accurately routed to the right person. With watsonx Assistant, the customers arrive at that human interaction with the relevant customer data necessary to facilitate rapid resolution. That means customers get what they need faster and more effectively, without the frustration of bouncing around phone trees and having to continually repeat the details of their inquiry.

How It Helps You

Deliver human-like interactions

Regardless of where a customer inquiry comes in, and regardless of the language they speak, watsonx Assistant uses natural language processing to elevate customer engagements to a uniquely human level and respond quickly and effectively in real-time.

Minimize the need for developers

Optimize for efficiency and efficacy

Using watsonx Assistant, subject matter experts can build and maintain advanced conversational flows without any programming knowledge just drag and drop. Banking specific templates and documentation on getting started, integrations, and dialog flow get them up and running quickly.

AI chatbots enable you to extract valuable insights and use those learnings to continually optimize performance. Leverage your existing customer support systems to harvest relevant data, enhance self-service capabilities and improve relevancy of answers.

Business Transformation

Transform your banking customer support by implementing AI chatbots for 24/7 instant assistance, integrating all communication channels for a seamless experience, and offering self-service tools through mobile apps and online portals. These strategies will enhance customer satisfaction and efficiency.

Take the next step

Ready to transform your banking customer support experience?