Finance

Birth of a Digital Assistant: Meet Cora

Share this post:

Today customers want a choice of how, when and where to do their banking – from the 24/7 accessibility of mobile and digital to personal and in branch banking. Banks face the pressure of competition and the need to improve customer experience with faster service, reduced wait times and first-time problem resolution, all while reducing costs. The need for innovation has never been more critical.

The Royal Bank of Scotland has paved the way for banking innovation ever since it was established in 1727. From the world’s first overdraft, and the first house purchase loan by a UK bank, to the first fully-fledged Internet banking service and mobile banking app, this pioneering bank has a history of making life easier for its customers.

Naresh Vyas, RBS’s Head of Solutions, is leading the charge of the bank’s digital reinvention. On 4 June he touched down in Sydney and  8 June in Auckland, to share his insights and experience in creating Cora, the bank’s first digital assistant.

Putting smart to work: Raising Cora

Discover how IBM’s Watson is helping Naresh and his team raise Cora.

Teaching Cora

Cora is trained with over 1,000 responses to more than 200 customer queries – and she’s still learning.

Why an AI chatbot

Powered by Watson, Cora can analyse every conversation, incorporate what’s been learned and apply changes rapidly.

How does Cora help agents?

With Cora’s help agents can spend more time focusing on customers.

Cora and the Cloud

Cora runs entirely in the cloud. This gives Cora speed, flexibility and the benefits of both private and public cloud while addressing data security, governance and compliance.

The team

Cora is a chatbot raised on agile methods, teamwork, and collaboration.

The future of customer service

In the future, Cora will be like a personal coach in your pocket, making suggestions that are personalised to your unique needs.

NatWest, which is part of the Royal Bank of Scotland, is in advanced testing of an AI-powered ‘digital human’, which in the future could be used as an additional way for customers to get answers to basic banking queries. They are working in partnership with our friends at Soul Machines.

To learn more about how digital assistants could assist you in your business, visit us here.

Edited by: Anne Nicholson, Brand Strategy Lead A/NZ

More Finance stories

Austrade’s Women In Tech Pitch

Author: Kylie McLean, Chief Digital Officer, IBM Digital Business Group, A/NZ It’s no secret that the technology sector has a shortage of women, and the statistics of women founders are especially frightful. A recent Access Economics study found that women make up just 27.8 per cent of the IT workforce [1]  – throw entrepreneurship into […]

Continue reading

The emergence of the tech-savvy martecheter

Author: Amanda Johnston-Pell, Chief Marketing Officer and Co-Chair Customer Officer, IBM A/NZ  Reddit founder Alexis Ohanian recently said: “Programming is modern-day literacy.” This quote really resonated with me. Last year my son took part in a Coder Academy Day – a dedicated IBM-sponsored program which gave him his first taste of coding and artificial intelligence. He […]

Continue reading

What would a data breach do to your company?

The landmark 2019 Cost of a Data Breach study from the Ponemon Institute surveyed 500 companies around the world and reviewed 10 years of historical data to get a comprehensive view of the impact of data breaches. The results are compelling. The costs of data breaches are increasing – as is the time it takes […]

Continue reading