Leading Mutual Bank Balances Customer Response Times and Call Centre Satisfaction with AI

Solution Overview

The Client

One of Australia’s leading mutual banks, who manages more than $5B worth of assets for its customers, is dealing with increasing complexity of its operations due to its growth, and a constantly tightening regulatory operating environment.

It began exploring whether Generative Artificial Intelligence (GenAI) would be able to assist.

The Challenge

Over the past 12 months the bank experienced tremendous growth. As a consequence, call volumes to the contact centre were on the rise and becoming more complex.  It wanted to explore how it could improve call handling times, employee satisfaction and create capacity to help staff focus on high value client issues.

After attending a Decision Inc. Australia client event which discussed GenAI applications, they began discussions with the AI and data analytics consultancy about developing a proof of value (POV) for how GenAI might be able to assist its call centre.

“The bank faced a good problem: growth was creating operational pressure to service clients, which naturally leads to increasing complexity dealing with customer queries,” said Heke. “Our GenAI applications can arm contact centre agents with user friendly accurate information.”

The bank and the consultancy sat down and began mapping how a GenAI application could assist.

Decision Inc. Australia identified that a GenAI “KnowledgeBot” would help create a better customer service experience while increasing capacity within the call centre, serving to simplify and improve access to process and procedural documentation from a pre-existing knowledge base used to guide and advise customers.

The consultancy quickly moved to the POV stage to ensure that the GenAI application would be both capable and financially viable. Within four weeks, the POV was delivered.

“The turnaround time to deliver a GenAI POV is shorter than people think,” said Heke. “We’ve seen some instances of POV’s being delivered in between two to eight weeks.”

The Outcome

Decision Inc. Australia determined that the bank would be able to see a material double digit improvement in average handling times, increased contact centre agent satisfaction and an ability to absorb more volume as the bank continues to grow. The solution would also enable less experienced staff to be more productive.

“The additional capacity call centre staff would experience without having to manually search and assess information would prove invaluable,” said Heke. “Staff within the centre would also experience superior engagement between team members.”

Furthermore, the deployment will firmly put the bank on the cutting edge of innovation to the betterment of its customers and staff. The solution will be deployed on an AI Enterprise Platform from Decision Inc. allowing additional solutions to be identified, and deployed rapidly.

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