The finance industry has long been defined by its bureaucratic processes and being rigid in their relationship with their customers. Ten years ago, the main way customers and banks communicated was face to face at a branch.
But today, due to technological advancements, consumer behavior has evolved big time: customers want quick solutions, personalized answers and to manage their own time.
In this context, providing24/7 service, immediate answers to simple questions and automating processes have become priorities for banks, while maintaining costs and simplifying work for their employees.
Banco Comafi, famous for innovating and adopting new technologies, understood this right away. It decided to go forward with a digitalization process within the Argentine banking industry and implement artificial intelligence for all their processes, including customer service.
And so Sofia was created, their conversational chatbot powered by Aivo’s technology. This is their story.
Sofia, the responsible for an exceptional service
Whenever and wherever, customers can count on Sofia to answer all kinds of questions about products and benefits, among other subjects, and clear up any issues navigating across channels. This way, Banco Comafi offers quality customer service plus improves customer relationships, automates processes and lowers costs.
“Good customer service is fundamental to a company’s success. Customers expect to be treated well and demand rapid solutions at their fingertips that inspire confidence and avoid wasting time.”
Fabián Mealla | Digital Banking Manager
How does Sofia help customers?
Before implementing Sofia on its digital channels, Banco Comafi’s customer service was limited to regular business hours. Now with Sofia, they offer 24/7 high-end support for FAQs and particular queries, which were previously handled by customer service representatives.
Sofia does all this through their website, home banking and WhatsApp. This way, it’s always present on multiple channels, providing different options for customers to communicate through whatever channel’s best for them any time of day, even on weekends.
Up & cross-selling
But beyond being a great customer service agent available at all times, Sofia is also venturing into sales. Currently, she is able to show commercial ads that help maximize opportunities to access benefits and promotions, applying up-selling and cross-selling techniques to improve the overall experience of acquiring and using their products.
Learning & education
In the short term, Sofía will also offer assistance on a new landing page dedicated to digital onboarding. Its purpose? To assist and educate customers and prospects within this new digital experience.
An ally in times of crisis
During the last months, Sofía was not only in charge of excellent customer service, but also became a true ally to face the COVID-19 crisis.
Thanks to her, Banco Comafi's clients can now carry out banking procedures without the need to call, go to the bank or even access home banking. By contacting her through WhatsApp
or any other service channel, customers can launder their PIN and manage the withdrawal of money from an ATM without a debit card.
With these new functionalities of Sofia, users only have to communicate with her, specify the process they want to carry out, and follow her instructions in just a few steps.
In this way, Banco Comafi positions itself as a pioneer in the Argentine banking industry by relying on automation technologies to guarantee service and decentralize the physical branch during quarantine.
Besides introducing customers to a new form of assistance, Sofia has also provided enormous benefits for Banco Comafi’s internal processes.
Since they implemented the bot, the bank launched a new communication channel that is able to provide assistance at times in which representatives are not able to do so, every day of the year. At the same time, it was able to reduce the high amount of questions that reached their customer service department.
“The bot lets us answer immediately 24 hours a day, 365 days a year. It lowered the amount of questions that reaches traditional channels.”
Fabián Mealla | Digital Banking Manager
Sofia is still growing and constantly improving with Banco Comafi’s team, with all the areas that are involved in its development. Since implementation, it’s doubled the number of chat sessions and still managed to improve answer quality by almost 10%. In 2019 the chatbot handled 63,548 total sessions and just 2.5% were transferred to human agents.
On the other hand, regarding Live
’s assistance, the bank launched a new shared support strategy (bot + representative), increasing the number of sessions by over 200%. Wait time was also reduced by 40 seconds, with an average of 30 seconds.
Banco Comafi is now in the first stages of implementing its bot. However, customer acceptance has been impressive. Sofia has a bigger goal ahead: become not just a support channel, but also a transactional one. To join the collections department and directly interact with customers and enable them to check their balance, due dates, make payments and settle debts.