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Nordic bank DNB has been able to automate over 50% of chat traffic with Boost.ai’s virtual agents. As a result, DNB has seen an increase in customer satisfaction scores, while its employee-facing agent exhibited improved accuracy rates of 80%.
Customers in the UK are increasingly migrating from legacy banking to new market entrants, and this is a trend that is being seen globally. Customer dissatisfaction with clunky and time-consuming processes is an obvious factor in this shift – digital challengers providing sleeker and more convenient experiences are changing modern expectations for customer service. This reflects a shift in the Nordic banking market, where over 90 per cent of customers regularly bank online making it essential for banks like DNB to to take action and seek assistance in transforming customer experience.
By implementing a conversational AI solution powered by Boost.ai, DNB was able to adopt intelligent virtual agents as the first line of support for customers. In doing so, DNB was able to handle the huge volume of incoming customer requests on its website. While many of these chat conversations were easily handled by human agents, they took up valuable time and internal resources.
The benefits of the solution were immediately clear. Within the first six months, DNB’s virtual agent, named Aino, was automating over 50% of all incoming chat traffic, and it now currently automates over 20% of all customer service requests. To date, Aino has interacted with over one million customers, and customer resolution rates continue to improve.
By embracing conversational AI technology, DNB has opened new opportunities for employees too. DNB employs 15 full-time AI Trainers dedicated to training its virtual agents on how best to respond to customers and employees and when to hand over enquiries to a human agent. The new enquiry platform directs customers to Aino in the first instance; if Aino cannot easily resolve the enquiry, customers are handed to a human agent. In this way, the employee can focus on the complex tasks they were trained for rather than more menial administrative work. This seamless connection between humans and machines benefits all involved.
Sanjeev Kumar, VP of EMEA at Boost.ai, said, “DNB is one of many forward-thinking organisations that are reaping the benefits of embracing a conversational AI solution. DNB has shown that conversational AI transforms the customer experience and provides exciting new opportunities for staff to focus their attention and ingenuity on more interesting tasks and to become part of their organisation's conversational AI journey.”
Jan Thomas Lerstein, SVP & Head of IT Emerging Technologies at DNB, said, “Artificial intelligence is an important part of our digital strategy. In leveraging AI, our aim is to revitalise our value chains, creating better service for our customers and, of course, value for the bank.
“This is just the start of our journey too. We are already looking at voice APIs and how we can achieve higher levels of personalisation with this technology, and we will continue to push the boundaries of what can be achieved with conversational AI. In improving efficiency, the sky’s the limit.”
