In a world the place the competitors for buyer loyalty is fierce, RCBC Credit score’s method is a game-changer. Slightly than merely counting on expertise to resolve all issues or people to do all of the heavy lifting, they’ve discovered a approach to make each work collectively seamlessly. And the outcomes? A mannequin for contemporary banking companies that others within the business can be taught from.
On this put up, we’ll discover how RCBC Credit score’s daring transfer towards AI and human collaboration is setting a brand new commonplace for customer support in banking, and how one can apply these classes to remain forward in an more and more aggressive panorama.
Let’s dive into how RCBC Credit score makes this magic occur, the teachings they’ve discovered, and the way others can observe their lead.
Why RCBC Wanted a Change
RCBC’s bank card enterprise was rising and so they needed to create a brand new channel for customer support and engagement through Fb (for the reason that Philippines was the second-largest Fb market within the Southeast Asian area on the time). Erica (quick for “Digital RCBC Interactive Buyer Assistant”) was, due to this fact, launched in July 2021.
Erica was designed to sort out the highest 4 buyer requests like steadiness inquiries, promo inquiries, card activation and card utility. She was a wise resolution – one that might deal with massive volumes of inquiries shortly and effectively with out elevating prices.
Meet Erica: RCBC’s AI Famous person
Quick ahead to as we speak, Erica manages 5 use instances (with the addition of rewards redemptions in April 2023) and is anticipated to deal with over 600,000 conversations yearly by the tip of 2023. That’s saving RCBC Credit score a powerful 22 million pesos (i.e.approx $400k) a 12 months involved heart prices.
Erica’s actual superpower? She frees up human brokers. Whereas Erica handles the routine stuff, brokers concentrate on high-value duties like serving to prospects with mortgage choices or monetary recommendation—areas that want empathy and problem-solving.
Recommended Learn: Enhancing Credit score Unions: The Crucial of Conversational Banking
The Excellent Steadiness: People and AI Working Collectively
RCBC is aware of that AI alone isn’t sufficient. Right here’s how they’ve struck the suitable steadiness:
- Let AI Deal with the Fundamentals: Erica takes care of repetitive questions like steadiness inquiries, promo inquiries and card activations—24/7.
- People for Complicated Points: When Erica can’t resolve an issue, prospects get seamlessly transferred to a human agent. Quickly, RCBC plans to introduce dwell chat for these handoffs.
- Empowering Brokers: RCBC is rolling out AI-driven instruments to summarize chats, so brokers don’t waste time on admin work and may focus totally on serving to prospects.
This teamwork between people and AI ensures that effectivity doesn’t come at the price of empathy.
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Making Erica a Family Identify
Introducing a chatbot is one factor. Getting individuals to make use of it? That’s one other story. RCBC made positive prospects knew about Erica via sensible methods:
- In every single place You Look: Erica’s presence is difficult to overlook—she’s featured in Fb posts, contact heart scripts, and extra.
- Brokers Unfold the Phrase: RCBC’s brokers promote Erica, telling callers how the chatbot can shortly deal with duties like rewards redemptions.
- Sluggish and Regular: RCBC eased prospects into utilizing Erica by beginning with easy duties. Over time, they added extra options and constructed buyer belief.
Innovator Highlight with Frances Fausto, Head of CX at RCBC
The Outcomes Converse for Themselves
RCBC tracks key metrics to measure Erica’s success:
- Buyer Satisfaction (CSAT):
Duties dealt with by Erica, like card activations, rating increased in satisfaction in comparison with conventional strategies. - Buyer Effort Rating (CES):
Prospects discover Erica’s interface easy and simple to make use of. - Value Financial savings:
By automating over 600,000 interactions, RCBC saves tens of millions in operational prices. - Name Deflection:
With extra prospects utilizing Erica, human brokers can now concentrate on strategic duties.
Recommended Learn: How Generative AI is Reshaping International Industries
What’s Subsequent for RCBC and Erica?
RCBC is simply getting began. Right here’s what’s coming subsequent:
- Reside Chat Integration: Seamless transitions from Erica to dwell chat brokers for extra complicated queries.
- Extra Use Circumstances: Addition of rising high name sorts like payment reversal, card utility standing and card supply standing to deflect calls from the hotline or e-mail.
- AI-Pushed CRM Summaries: Robotically summarizing chatbot interactions for brokers to entry simply.
Classes for Companies Beginning Their AI Journey
RCBC’s journey is filled with insights for anybody able to dive into AI. Right here’s what you’ll be able to be taught:
- Begin Small, Suppose Huge
Give attention to automating these easy, repetitive duties which have a big effect. It’s a wise approach to dip your toes in with out overwhelming your staff or assets. - Assist Everybody Get on Board
Educate your prospects and staff on how AI could make their lives simpler. When everybody’s within the loop, they’re extra more likely to belief and embrace the change. - AI + People = The Dream Crew
Use AI to deal with the grunt work, however depart the private contact and sophisticated points to your human staff. The most effective outcomes come from letting each do what they do greatest. - Measure, Alter, Repeat
Don’t simply set it and overlook it. Hold observe of how issues are going, get suggestions, and make enhancements as wanted. This manner, your AI evolves with your enterprise and your prospects’ wants.
Mixing AI and Human Experience for Future-Prepared Help
RCBC’s success story highlights the facility of mixing AI and human abilities to create a contemporary, environment friendly buyer help system. By letting AI deal with routine duties and empowering brokers to concentrate on extra significant interactions, RCBC has constructed a system that’s not solely environment friendly however empathetic—ready for the longer term.
For banks and companies seeking to evolve, RCBC’s method affords a confirmed roadmap for achievement. It’s not nearly adopting new expertise—it’s about fostering deeper, extra significant buyer connections at scale.
So, Are You Prepared?
By embracing AI-driven options, banks have the chance to remodel their operations, elevate buyer experiences, and safe a aggressive edge in an ever-changing panorama. Leveraging instruments like conversational AI, predictive analytics, and automatic workflows permits the creation of extra clever, customized companies—with out requiring intensive system overhauls.
The trail ahead begins with decisive management. Financial institution leaders should pinpoint high-impact use instances, modernize outdated programs, and domesticate a tradition of steady innovation to unlock the total potential of AI. From streamlining buyer interactions to enhancing danger administration and scaling customized choices, the chances are limitless.
For these able to fast-track their transformation, options like Kore.ai AI for Service present a strong basis. With pre-configured use instances and seamless integration, these instruments permit banks to shortly capitalize on AI’s capabilities. Step into the way forward for banking, embrace daring improvements and cleared the path on this digital period.
The AI revolution isn’t on the horizon—it’s right here.
Are you ready to grab the chance?
