What if we informed you that the key to distinctive customer support in banking doesn’t lie in simply having extra brokers or sooner know-how—however within the excellent stability between the 2?
Enter RCBC Credit score, a number one monetary establishment within the Philippines that’s rewriting the playbook on customer support by mixing AI-powered chatbots with human empathy.
In a world the place the competitors for buyer loyalty is fierce, RCBC Credit score’s method is a game-changer. Fairly than merely counting on know-how to resolve all issues or people to do all of the heavy lifting, they’ve discovered a option to make each work collectively seamlessly. And the outcomes? A mannequin for contemporary banking companies that others within the trade can study from.
On this put up, we’ll discover how RCBC Credit score’s daring transfer towards AI and human collaboration is setting a brand new normal for customer support in banking, and how one can apply these classes to remain forward in an more and more aggressive panorama.
Let’s dive into how RCBC Credit score makes this magic occur, the teachings they’ve realized, and the way others can observe their lead.
Why RCBC Wanted a Change
RCBC’s bank card enterprise was rising and so they wished to create a brand new channel for customer support and engagement through Fb (for the reason that Philippines was the second-largest Fb market within the Southeast Asian area on the time). Erica (brief for “Digital RCBC Interactive Buyer Assistant”) was, due to this fact, launched in July 2021.
Erica was designed to sort out the highest 4 buyer requests like stability inquiries, promo inquiries, card activation and card software. She was a wise answer – one that would deal with massive volumes of inquiries rapidly and effectively with out elevating prices.
Meet Erica: RCBC’s AI Celebrity
Quick ahead to as we speak, Erica manages 5 use circumstances (with the addition of rewards redemptions in April 2023) and is predicted to deal with over 600,000 conversations yearly by the tip of 2023. That’s saving RCBC Credit score a formidable 22 million pesos (i.e.approx $400k) a 12 months involved heart prices.
Erica’s actual superpower? She frees up human brokers. Whereas Erica handles the routine stuff, brokers concentrate on high-value duties like serving to clients with mortgage choices or monetary recommendation—areas that want empathy and problem-solving.
Recommended Learn: Enhancing Credit score Unions: The Crucial of Conversational Banking
The Excellent Stability: People and AI Working Collectively
RCBC is aware of that AI alone isn’t sufficient. Right here’s how they’ve struck the best stability:
Let AI Deal with the Fundamentals: Erica takes care of repetitive questions like stability inquiries, promo inquiries and card activations—24/7.
People for Complicated Points: When Erica can’t clear up an issue, clients get seamlessly transferred to a human agent. Quickly, RCBC plans to introduce reside chat for these handoffs.
Empowering Brokers: RCBC is rolling out AI-driven instruments to summarize chats, so brokers don’t waste time on admin work and may focus fully on serving to clients.
This teamwork between people and AI ensures that effectivity doesn’t come at the price of empathy.
Really useful Learn: This Conversational AI Bundle Helps Credit score Unions Improve Member Expertise and Develop Income
Making Erica a Family Title
Introducing a chatbot is one factor. Getting individuals to make use of it? That’s one other story. RCBC made positive clients knew about Erica by sensible methods:
All over the place You Look: Erica’s presence is difficult to overlook—she’s featured in Fb posts, contact heart scripts, and extra.
Brokers Unfold the Phrase: RCBC’s brokers promote Erica, telling callers how the chatbot can rapidly deal with duties like rewards redemptions.
Sluggish and Regular: RCBC eased clients into utilizing Erica by beginning with easy duties. Over time, they added extra options and constructed buyer belief.
Innovator Highlight with Frances Fausto, Head of CX at RCBC
The Outcomes Communicate for Themselves
RCBC tracks key metrics to measure Erica’s success:
Buyer Satisfaction (CSAT): Duties dealt with by Erica, like card activations, rating greater in satisfaction in comparison with conventional strategies.
Buyer Effort Rating (CES): Clients discover Erica’s interface clean and straightforward to make use of.
Value Financial savings: By automating over 600,000 interactions, RCBC saves thousands and thousands in operational prices.
Name Deflection: With extra clients utilizing Erica, human brokers can now concentrate on strategic duties.
Recommended Learn: How Generative AI is Reshaping International Industries
What’s Subsequent for RCBC and Erica?
RCBC is simply getting began. Right here’s what’s coming subsequent:
Dwell Chat Integration: Seamless transitions from Erica to reside chat brokers for extra complicated queries.
Extra Use Instances: Addition of rising high name sorts like charge reversal, card software standing and card supply standing to deflect calls from the hotline or e mail.
AI-Pushed CRM Summaries: Robotically summarizing chatbot interactions for brokers to entry simply.
Classes for Companies Beginning Their AI Journey
RCBC’s journey is stuffed with insights for anybody able to dive into AI. Right here’s what you’ll be able to study:
Begin Small, Suppose LargeDeal with automating these easy, repetitive duties which have a big effect. It’s a wise option to dip your toes in with out overwhelming your group or sources.
Assist Everybody Get on BoardEducate your clients and staff on how AI could make their lives simpler. When everybody’s within the loop, they’re extra more likely to belief and embrace the change.
AI + People = The Dream StaffUse AI to deal with the grunt work, however go away the private contact and sophisticated points to your human group. The most effective outcomes come from letting each do what they do greatest.
Measure, Modify, RepeatDon’t simply set it and neglect it. Maintain observe of how issues are going, get suggestions, and make enhancements as wanted. This manner, your AI evolves with your corporation and your clients’ wants.
Mixing AI and Human Experience for Future-Prepared Help
RCBC’s success story highlights the facility of mixing AI and human abilities to create a contemporary, environment friendly buyer assist system. By letting AI deal with routine duties and empowering brokers to concentrate on extra significant interactions, RCBC has constructed a system that isn’t solely environment friendly however empathetic—ready for the longer term.
For banks and companies seeking to evolve, RCBC’s method presents a confirmed roadmap for fulfillment. It’s not nearly adopting new know-how—it’s about fostering deeper, extra significant buyer connections at scale.
So, Are You Prepared?
By embracing AI-driven options, banks have the chance to remodel their operations, elevate buyer experiences, and safe a aggressive edge in an ever-changing panorama. Leveraging instruments like conversational AI, predictive analytics, and automatic workflows allows the creation of extra clever, personalised companies—with out requiring intensive system overhauls.
The trail ahead begins with decisive management. Financial institution leaders should pinpoint high-impact use circumstances, modernize outdated methods, and domesticate a tradition of steady innovation to unlock the total potential of AI. From streamlining buyer interactions to enhancing danger administration and scaling personalised choices, the chances are limitless.
For these able to fast-track their transformation, options like Kore.ai AI for Service present a sturdy basis. With pre-configured use circumstances and seamless integration, these instruments enable banks to rapidly capitalize on AI’s capabilities. Step into the way forward for banking, embrace daring improvements and cleared the path on this digital period.
The AI revolution isn’t on the horizon—it’s right here.
Are you ready to grab the chance?
