How can AI help the average banking customer?
It cuts wait times and call lengths by helping Scotiabank employees in branches and contact centres answer client queries faster and more efficiently.
Last year, the Bank launched an internal chatbot called AskAI. It can understand and respond to queries without needing specific keywords. The generative-AI powered platform can answer questions about banking and services quicker than contact centre agents and staff at the Bank’s Client Experience Centre can look up the answers themselves.
“It allows our advisors to put in a question and get a response in the moment while they’re supporting their clients,” said Leslie MacDonald, Scotiabank’s Vice President, Operational Excellence and Retail Channel Performance.
They no longer need to sift through knowledge articles or policies to get answers to uncommon questions or operational answers, she added. For example, AskAI can handle complex questions such as “How do I move a business account from sole proprietorship to corporation?” in seconds, rather than minutes.
With AskAI, clients are served more efficiently, and feedback from employees has been positive as well.
“The advisor, all they really need to do now is to concentrate on the client and the moment,” said MacDonald. “Overall, a much better experience for them and the client.”
