• Reduction in email volume

    20%

  • Questions answered
    per year

    3.5M

  • Answer accuracy rate

    95%

  • Knowledge base answers
    in both EN and FR

    3,000

Challenge

As customers increasingly came online to seek help, Scotiabank recognized the need to answer their customers' queries accurately and cost effectively. They wanted to reduce the number of emails they were getting from their website in order to contain rising contact center staffing costs. They were also challenged in gaining any true voice-of-the-customer feedback from their online users.

Solution

[24]7 Virtual Agent, formerly IntelliResponse Answers, was deployed on the Scotiabank.com and Scotiaonline.com websites to enhance customers' online journeys with timely, relevant answers to their most pressing questions.

[24]7.ai co-developed a knowledge base of 200 unique answers in both English and French. In addition, Scotiabank opted for VOICES – a voice-of-the-customer analytics tool that analyzes the questions that customers are asking within the virtual agents in order to spot gaps in website content and banking services.

Result

The virtual agents have been a huge success, answering 3.5M customer questions per year with an industry leading 95% answer accuracy rate.

Since the implementation, Scotiabank has experienced a 20% reduction in emails into their contact center, translating into massive savings on contact center staffing costs.

The VOICES reporting and analytics package has provided Scotiabank with vital voice-of-the-customer insights, allowing the bank to tailor their website content and services to better meet customer needs.

 scotiabank