In a world the place the competitors for buyer loyalty is fierce, RCBC Credit score’s strategy 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 strategy 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 publish, 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 realized, and the way others can comply with their lead.
Why RCBC Wanted a Change
RCBC’s bank card enterprise was rising they usually wished to create a brand new channel for customer support and engagement by way of 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, subsequently, launched in July 2021.
Erica was designed to deal with the highest 4 buyer requests like stability inquiries, promo inquiries, card activation and card software. She was a sensible resolution – one that would deal with massive volumes of inquiries rapidly and effectively with out elevating prices.
Meet Erica: RCBC’s AI Famous person
Quick ahead to in the present day, 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 top of 2023. That’s saving RCBC Credit score a powerful 22 million pesos (i.e.approx $400k) a 12 months in touch heart prices.
Erica’s actual superpower? She frees up human brokers. Whereas Erica handles the routine stuff, brokers give attention to high-value duties like serving to prospects 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 stability:
- Let AI Deal with the Fundamentals: Erica takes care of repetitive questions like stability inquiries, promo inquiries and card activations—24/7.
- People for Complicated Points: When Erica can’t remedy an issue, prospects 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 fully 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 Title
Introducing a chatbot is one factor. Getting individuals to make use of it? That’s one other story. RCBC made certain prospects knew about Erica via good methods:
- In all places You Look: Erica’s presence is tough 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 rapidly deal with duties like rewards redemptions.
- Gradual 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 Communicate for Themselves
RCBC tracks key metrics to measure Erica’s success:
- Buyer Satisfaction (CSAT):
Duties dealt with by Erica, like card activations, rating larger 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 give attention to 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:
- Dwell Chat Integration: Seamless transitions from Erica to reside chat brokers for extra complicated queries.
- Extra Use Circumstances: Addition of rising prime name sorts like price 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 stuffed with insights for anybody able to dive into AI. Right here’s what you’ll be able to be taught:
- Begin Small, Assume Large
Deal with automating these easy, repetitive duties which have a big effect. It’s a sensible strategy to dip your toes in with out overwhelming your staff or assets. - Assist Everybody Get on Board
Educate your prospects and workers 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 Staff
Use AI to deal with the grunt work, however go away the non-public contact and sophisticated points to your human staff. The very best outcomes come from letting each do what they do greatest. - Measure, Alter, 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 corporation 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 give attention to extra significant interactions, RCBC has constructed a system that’s not solely environment friendly however empathetic—ready for the long run.
For banks and companies seeking to evolve, RCBC’s strategy gives a confirmed roadmap for fulfillment. 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 rework 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, personalised companies—with out requiring in depth 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 threat administration and scaling personalised 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 rapidly capitalize on AI’s capabilities. Step into the way forward for banking, embrace daring improvements and paved the way on this digital period.
The AI revolution isn’t on the horizon—it’s right here.
Are you ready to grab the chance?
