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.
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.
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
Author: Damien Hudson | Associate Partner, IBM ix Financial services organisations are feeling the heat. In a hyper-competitive marketplace, banks are dealing with highly educated customers, who are well aware of their options and expect their needs to be met (and if not by you, then by someone else). In fact, banking customers tend to […]
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