Transforming Customer Experience in the Largest Bank in Portugal: A Case Study of a Conversational AI-powered Omnichannel Banking at Caixa Geral de Depósitos by grupoGBI.
Abstract
This article presents a case study on the successful implementation of a Conversational AI-powered omnichannel banking solution at Caixa Geral de Depósitos (CGD), the largest bank in Portugal. With a focus on improving the customer journey, this solution leverages natural language recognition technologies to automate banking operations and provide personalized responses across various channels. The project was delivered in record time, meeting the high-security requirements of the banking sector. The results include significant reductions in customer call service time, increased first-call resolution rates, improved customer retention, and high customer satisfaction.
Introduction
Caixa Geral de Depósitos (CGD), the largest bank in Portugal, aimed to transform its banking operations and enhance the customer experience by implementing a Conversational AI-powered omnichannel solution. This article presents a case study that highlights the successful implementation of this solution, focusing on its impact on customer satisfaction, operational efficiency, and security.
Solution Overview
The AI-powered omnichannel banking solution developed for CGD automates banking operations and enhances customer interactions across multiple channels. Leveraging natural language recognition technology, the platform accurately interprets customer needs and provides prompt responses. The solution complies with PCI/DSS standards, ensuring high cybersecurity measures, data anonymization, biometrics, and adherence to GDPR and ECB regulations. It serves all IVR channels and caters to CGD's diverse customer segments, including individuals and businesses.
Project Details
The implementation of the AI-powered omnichannel banking solution at CGD was completed within a remarkably short timeframe, considering the stringent security requirements of the banking industry. The solution seamlessly integrates with CGD's existing IVR channels and serves all customer segments. By enabling natural language conversations, the solution greatly enhances the customer experience across CGD's relationship channels.
Results
The implementation of the AI-powered omnichannel banking solution has yielded significant results, as outlined below:
- Reduced Service Call Time: CGD experienced a 50% reduction in customer service call time, leading to faster query resolution and improved operational efficiency.
- Increased First-Call Resolution (FCR): The solution achieved a remarkable 70% FCR rate, enabling customers to have their inquiries addressed and resolved promptly in a single interaction.
- Improved IVR Retention: The AI-powered solution contributed to a 60% increase in IVR retention, indicating higher customer satisfaction and a preference for self-service options.
- High Customer Satisfaction: CGD achieved an impressive 99% customer satisfaction rate, indicating the success of the AI-powered solution in meeting customer needs and enhancing their banking experience.
Conclusion
The case study of CGD's Conversational AI-powered omnichannel banking solution showcases the transformative impact of artificial intelligence on customer experience, operational efficiency, and security in the banking sector. With significant improvements in service call time, first-call resolution rates, IVR retention, and customer satisfaction, CGD has successfully enhanced the customer journey and achieved operational excellence. By leveraging advanced AI capabilities and complying with industry standards, CGD sets a new benchmark for banking services, providing personalized and efficient experiences for its customers.
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