What if we informed you that the key to distinctive customer support in banking doesn’t lie in simply having extra brokers or quicker expertise—however within the good steadiness between the 2?
Enter RCBC Credit score, a number one monetary establishment within the Philippines that’s rewriting the playbook on customer support by mixing AI-powered chatbots with human empathy.
In a world the place the competitors for buyer loyalty is fierce, RCBC Credit score’s strategy is a game-changer. Quite than merely counting on expertise to unravel all issues or people to do all of the heavy lifting, they’ve discovered a option to make each work collectively seamlessly. And the outcomes? A mannequin for contemporary banking companies that others within the trade 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 normal 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 realized, and the way others can comply with their lead.
Why RCBC Wanted a Change
RCBC’s bank card enterprise was rising they usually needed to create a brand new channel for customer support and engagement through Fb (because the Philippines was the second-largest Fb market within the Southeast Asian area on the time). Erica (brief for “Digital RCBC Interactive Buyer Assistant”) was, due to this fact, launched in July 2021.
Erica was designed to deal with the highest 4 buyer requests like steadiness inquiries, promo inquiries, card activation and card software. She was a wise resolution – one that would deal with massive volumes of inquiries rapidly and effectively with out elevating prices.
Meet Erica: RCBC’s AI Celebrity
Quick ahead to as we speak, Erica manages 5 use circumstances (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 formidable 22 million pesos (i.e.approx $400k) a 12 months in touch middle prices.
Erica’s actual superpower? She frees up human brokers. Whereas Erica handles the routine stuff, brokers deal with high-value duties like serving to clients with mortgage choices or monetary recommendation—areas that want empathy and problem-solving.
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The Excellent Stability: People and AI Working Collectively
RCBC is aware of that AI alone isn’t sufficient. Right here’s how they’ve struck the best 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 remedy an issue, clients get seamlessly transferred to a human agent. Quickly, RCBC plans to introduce reside 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 clients.
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 Title
Introducing a chatbot is one factor. Getting individuals to make use of it? That’s one other story. RCBC made positive clients knew about Erica via sensible methods:
- In every single place You Look: Erica’s presence is tough to overlook—she’s featured in Fb posts, contact middle scripts, and extra.
- Brokers Unfold the Phrase: RCBC’s brokers promote Erica, telling callers how the chatbot can rapidly deal with duties like rewards redemptions.
- Gradual and Regular: RCBC eased clients 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):
Clients discover Erica’s interface clean and straightforward to make use of. - Price Financial savings:
By automating over 600,000 interactions, RCBC saves hundreds of thousands in operational prices. - Name Deflection:
With extra clients utilizing Erica, human brokers can now deal with strategic duties.
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What’s Subsequent for RCBC and Erica?
RCBC is simply getting began. Right here’s what’s coming subsequent:
- Stay Chat Integration: Seamless transitions from Erica to reside chat brokers for extra complicated queries.
- Extra Use Instances: Addition of rising high name sorts like payment reversal, card software standing and card supply standing to deflect calls from the hotline or e-mail.
- AI-Pushed CRM Summaries: Mechanically 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, Assume Huge
Deal with automating these easy, repetitive duties which have a huge impact. It’s a wise option to dip your toes in with out overwhelming your workforce or assets. - Assist Everybody Get on Board
Educate your clients and staff on how AI could make their lives simpler. When everybody’s within the loop, they’re extra prone to belief and embrace the change. - AI + People = The Dream Group
Use AI to deal with the grunt work, however go away the non-public contact and complicated points to your human workforce. One of the best outcomes come from letting each do what they do finest. - Measure, Regulate, Repeat
Don’t simply set it and overlook it. Hold monitor of how issues are going, get suggestions, and make enhancements as wanted. This manner, your AI evolves with your small business and your clients’ wants.
Mixing AI and Human Experience for Future-Prepared Assist
RCBC’s success story highlights the ability of mixing AI and human abilities to create a contemporary, environment friendly buyer assist system. By letting AI deal with routine duties and empowering brokers to deal with extra significant interactions, RCBC has constructed a system that isn’t solely environment friendly however empathetic—ready for the long run.
For banks and companies seeking to evolve, RCBC’s strategy 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 in depth system overhauls.
The trail ahead begins with decisive management. Financial institution leaders should pinpoint high-impact use circumstances, modernize outdated methods, 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 probabilities are limitless.
For these able to fast-track their transformation, options like Kore.ai AI for Service present a sturdy basis. With pre-configured use circumstances and seamless integration, these instruments enable banks to rapidly capitalize on AI’s capabilities. Step into the way forward for banking, embrace daring improvements and prepared the ground on this digital period.
The AI revolution isn’t on the horizon—it’s right here.
Are you ready to grab the chance?
