Conversational AI Case Studies

Banca Transilvania uses DRUID AI's virtual assistant to boost its productivity

Written by DRUID Conversational AI | Apr 26, 2023 12:59:00 PM

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.

The Challenge

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.

 

The Solution

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.

Learnings

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.