Banks cuts customer care costs by 50% thanks to AI

In the framework of the 2020 Vietnam Artificial Intelligence Festival (AI4VN)), a workshop on AI in banking-finance was held with the participation of the leaders from the state management, banking and technology industries.

According to the experts at the workshop, Artificial Intelligence (AI) has been strongly applied in banks in operations from providing customer services to process digital transformation.

The speakers participated in the workshop on AI in banking-finance in the framework of AI4VN

Especially in the context of complicated developments of Covid-19 epidemic, the banks are increasingly paying more attention to applying technology to optimize costs and better user experience, such as LiveBank. of TPBank, Vietinbank’s kiosks with face recognition etc. "Thanks to AI, Vietinbank can save 30% of transaction processing time. We plan to develop the app into a finance consulting assistant for customers, not just a one-way interaction channel", said Mr. Tran Cong Quynh Lan, Deputy General Director of VietinBank.: "After eKYC is piloted, customers can complete eKYC and have an account in 5 seconds,” stated the representative of TPBank.

Speaking at the event, FPT Smart Cloud CEO Le Hong Viet gave a practical example of the effective application of AI in the digital bank’s operation process. FPT deployed "virtual agent for call center” based on the comprehensive artificial intelligence platform FPT.AI that can have two-way communication with consumers. In 4 months, "virtual agent" automatically handled 6 million incoming and outgoing calls with dozens of different scenarios such as greeting customers, reminding customers of credit card expiration dates etc., helping the banks cut customer care costs by 50% with a customer satisfaction level of 4/5.

FPT Smart Cloud CEO Le Hong Viet spoke at AI4VN

This is a groundbreaking application that completely changes the way banks carry out traditional customer care operations, thereby providing a seamless and valuable experience on customer interaction channels.

FPT.AI is considered as one of the important keys to help businesses, especially ones in banking-finance, ensure continuous operations, recover and make breakthroughs in the next normal with three outstanding benefits. Firstly, the product is provided in the model of Software as a service (SaaS) so that businesses don’t have to pay the initial investment cost. In addition, the deployment is quick and results can be produced in just 1 to 3 weeks. In particular, FPT.AI platform helps ensure continuous operation, anytime, anywhere with high accuracy. Currently, FPT.AI is providing a free trial to customers. Users can visit the website https://fpt.ai to learn about the service and experience.