DRUID helped Auchan, a prominent retailer in CEE and a global industry leader, harness the power of conversational AI to revolutionize the efficiency...
Banca Transilvania uses DRUID AI's virtual assistant to boost its productivity
One of the largest banks in Eastern Europe relies on DRUID’s conversational AI technology to boost internal operational productivity and operational processes.
Internal efficiency, external satisfaction
A seamless customer experience can be worth at least as much as a superior product or efficient process-building customer loyalty, reducing costs, making employees happier, and boosting revenues significantly. In the case of a bank, compelling customer experience transformation must recognize the complexities of the bank’s relationship s with customers and prioritize the elements that matter most: speed, simplicity, seamlessness.
Constant technological progress and contemporary market forces push industries to evolve and adapt continuously. Banking is no exception. It is one of the sectors that is currently most active in adjusting its ways of work to satisfy the exacting needs of the modern, global consumer.
Financial institutions are increasingly forced to dedicate more energy and resources to improving the customer’s experiences. This begins with remapping traditional banking processes to adapt them to modern expectations of speed and simplicity.
Boosting operational and data accuracy with Conversational AI
Instead of being one of the most important cost centres for a bank, future operations must be drivers of innovation. Internal processes must be optimized, with positive effects on both the internal teams (increased productivity) and, consequently, on customers who stand to receive a better service altogether.
As the market leader, Banca Transilvania felt it needed to benchmark how customers and banks interact to create a seamless, frictionless experience on both ends.
- Automate help desk support to increase employee productivity.
- Help with reports, interest calculations, various verifications, and troubleshooting for internal apps.
- Implement automating the process of closing a clients’ account and products to reduce customer waiting time.
123,524 conversations initiated in 2022 with over 6700 employees that actively used David in 2022
DAVID’s implementation was first designed as a pilot project for 1,200 employees. Its success within this environment prompted it to be deployed more fully, on a national level, across the 509 Banca Transilvania offices. As a result, the virtual assistant’s introduction has securely increased employee productivity and concomitantly lowered costs while boosting the end customer’s satisfaction with a better, more streamlined process with the bank of his choice.Key wins for Transilvania Bank:
- The automation of some of the most delicate aspects of internal processes has improved work productivity by allowing employees to focus on more complex tasks.
- 100% accuracy of information used by the operations teams in their daily work and interactions with bank customers
"The goal is David, DRUID’s AI virtual assistant, to become our most important tool in daily operational activities. David will give us the opportunity to be more efficient in providing qualitative services for our customers and colleagues."
With DRUID’s expertise and technology know-how, DAVID came into being in the summer of 2020. DAVID is a fully integrated AI intelligent assistant designed especially for Banca Transilvania’s operations helpdesk team, using DRUID's conversational AI platform. Its main objective is to improve access to information and help troubleshoot any issues for employees while working with any of the apps in the bank’s specific ecosystem.
At the same time, DAVID focuses on reducing the possibility of human errors by automating interest rate calculations, generating reports, automatically completing various notifications for clients, or performing almost instantaneous verifications and checks. It also connects the back office with front office employees through a route to agent solutions for faster interaction.
Operating in one of the most traditional and highly regulated industries globally, banks often rely on standardized, rigid processes to ensure compliance. However, changing customer expectations and louder demands for speed and flexibility push banks to double-check their traditional way of working and seek digital solutions for increased automation.
Intelligent chatbots and conversational AI solutions enable fast results, guaranteed ROI, and minimal disruption in a bank’s internal human resources tableau in this complex context. In the coming ten years, McKinsey estimates that 75% to 80% of transactional operations will be automated (Harnessing automation for a future that works).
Operational staff will be more focused on working closely with clients to offer creative solutions for their needs. Automation and artificial intelligence, already an essential part of consumer banking, will penetrate operations far more deeply in the coming years, delivering benefits not only for a bank’s cost structure but also for its customers.