
Challenge
The gen AI boom became one of the main contributors to the rise of customer demands. End users were starving for more human-like, efficient, and fast communication in mobile banking, especially with chatbots as a leading communication channel. And banks had to shape up or ship out.
Our client – a trailblazing Czech bank – saw it as a golden opportunity and didn’t miss the chance to capitalize on it. They have been pushing the frontiers of local banking since 2015, and when the gen AI spike started, the client’s center of excellence immediately concentrated on quick-win strategies of implementing conversational AI in finance services. Enriching their existing chatbot functionality with natural language processing (NLP) and generative AI capabilities became one of the projects at the top of their priority list.
The gen AI boom became one of the main contributors to the rise of customer demands. End users were starving for more human-like, efficient, and fast communication in mobile banking, especially with chatbots as a leading communication channel. And banks had to shape up or ship out.
Our client – a trailblazing Czech bank – saw it as a golden opportunity and didn’t miss the chance to capitalize on it. They have been pushing the frontiers of local banking since 2015, and when the gen AI spike started, the client’s center of excellence immediately concentrated on quick-win strategies of implementing conversational AI in finance services. Enriching their existing chatbot functionality with natural language processing (NLP) and generative AI capabilities became one of the projects at the top of their priority list.
Solution
The client envisioned a gen AI-powered chatbot with an intelligent Siri-like voice assistant. Such an ambitious solution required in-depth knowledge of large language models (LLMs), pattern and speech recognition, and other frontier technologies.
The client envisioned a gen AI-powered chatbot with an intelligent Siri-like voice assistant. Such an ambitious solution required in-depth knowledge of large language models (LLMs), pattern and speech recognition, and other frontier technologies.
Results
An experimental AI-driven chatbot has been a resounding success with users, resulting in a 7% boost in a 30-day retention rate. After making this feature available for all the users, our client also saw a noticeable increase in customer loyalty and satisfaction, measured in Net Promoter Score (NPS), which went up by 34%.
Business value:
- The first gen AI-driven personal financial advisor in the Czech mobile banking market
- 60% step-up in First Contact Resolution (FCR)
- 75% increase in Query Deflection Rate
- 7% boost in a 30-day retention rate
- 34% rise in Net Promoter Score (NPS)
An experimental AI-driven chatbot has been a resounding success with users, resulting in a 7% boost in a 30-day retention rate. After making this feature available for all the users, our client also saw a noticeable increase in customer loyalty and satisfaction, measured in Net Promoter Score (NPS), which went up by 34%.
Business value:
- The first gen AI-driven personal financial advisor in the Czech mobile banking market
- 60% step-up in First Contact Resolution (FCR)
- 75% increase in Query Deflection Rate
- 7% boost in a 30-day retention rate
- 34% rise in Net Promoter Score (NPS)