Verint Open Platform
Our cloud-native open platform with data and artificial intelligence at the core increases CX Automation and delivers AI business outcomes, now.
A Financial Services Company Delivers for Its Customers with Verint IVA
Leading financial services company revolutionizes its customer service with Verint Intelligent Virtual Assistant (IVA) to deliver industry-leading AI-powered CX.
Results
Saved $18 Million
Annual savings due to containing 80% of customer interactions.
Automated 22 Million Interactions
Annual interactions handled by Verint IVA.
Hundreds of Unique End User Groups Supported
Knowledge assistance across external users within the digital space and internal associates helps support efficient and effective customer service and fraud prevention.
About the Financial Services Company
This leading financial services company provides products ranging from online banking to card services for many of today’s leading global brands.
Like many Verint customers, the company has added capabilities of Verint Open Platform across its contact center and customer experience (CX) functions as its needs evolved. This included a large-scale deployment of Verint Intelligent Virtual Assistant (IVA).
Opportunity
The organization added Verint IVA to begin and speed its journey to increase CX automation across its customer service operations. Further, it expanded Verint IVA’s capabilities to support service delivery across many of its clients’ brands.
Initially, the financial services leader deployed Verint IVA in a single conversational flow. This enabled the company to start small, determine and validate proof of concept and ROI potential, and then scale the Verint AI-powered solution to additional digital channels and use cases.
Solution
Today, the organization has deployed Verint IVA across multiple conversational flows to drive and improve customer self-service. This included branding its IVA with a distinct name and personality to enable human-like service, while also improving CX through language tuning driven by conversation analysis. As a result, the financial services leader can achieve quicker, better AI outcomes across multiple digital channels.
In particular, the company has seen a major boost in containment. With Verint IVA supporting more than 30 conversation flows, the company now contains 80 percent of all customer interactions within its digital channels.
The scope of use cases for Verint IVA has also expanded. This includes handling more cardholders’ needs. Plus, internally, supporting associates with knowledge assistance during customer phone interactions to improve accuracy and resolution rates.
Benefits
The financial services leader has seen significant progress, benefits, and outcomes over the course of its Verint IVA journey. And progress and benefits began early, including:
- Increasing the number of IVA use cases to include the handling of card payments.
- Expanding intent coverage to address and resolve a wider range of customers’ needs.
- Implementing knowledge management assistance for associates, considering known customer information and relevant workflow.
Elevate CX and customer satisfaction
Further along in its journey, the next generation of the company’s IVA featured some of the most advanced conversational AI-driven self-service in the consumer financial space. With integration of the IVA across numerous digital channels and departments, the organization eliminated data silos and improved the accuracy of responses. In turn, this helped elevate CX and customer satisfaction. At the same time, agent efficiency and satisfaction improved through the expansion of the IVA to additional internal use cases.
As the financial services leader’s Verint IVA journey continued, so did the advancements and subsequent benefits. These included:
- Adding asynchronous messaging capabilities to the IVA, including third-party channels such as Apple Business Chat.
- With continuously improving AI models, the handling of high-level services that previously required a live agent, such as payment method changes, late fees, card replacement, and account information updates.
- Reducing average handle time by adding agent-facing IVA use cases to cover seven different departments.
- Reducing time spent by agents on manual knowledge library searches through the ingesting of knowledge data into the IVA.
Moving forward
The financial services leader harnessed the unique power of Verint Open Platform by starting small and then, over time, building the CX and contact center ecosystem that works best for both the business and its customers.
Furthermore, as customer needs and the financial industry evolves, Verint Open Platform and Verint IVA provide the company with the flexibility and scalability to adapt and evolve in parallel. As it continues to add new brands to its portfolio and increase the number of self-service and internal use cases, Verint IVA will grow, evolve, and adapt to fit its business and customers’ needs.
Unlike a basic chatbot that becomes less effective over time, Verint IVA has proven to increase its performance and reliability as time goes by. With the Verint Intent Discovery Bot included within Verint IVA, the organization can uncover new customer intents and refine current customer experiences to drive better AI business outcomes.
This means that the IVA continuously learns how to better serve customers by truly understanding the intent of the questions customers are asking and the outcomes they desire. The IVA then learns new answers and solutions to new questions that arise from new products, changes in policy, or anything else the IVA didn’t previously handle.
With this cycle of continuous improvement, the financial services leader can drive and maintain self-service experiences that exceed customer expectations.
Featured solutions
Verint Agent Copilot Bots
Supercharge your contact center by automating manual agent workflows.
Verint Intelligent Virtual Assistant (IVA)
Drive AI outcomes with higher interaction containment rates across your voice and digital channels and improved agent capacity by automating workflows.
Featured case studies
Contact us about Verint IVA today!
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