Business Issue
Monese is a revolutionary neo-bank founded with the ambitious goal of building a global instant-open bank account for the on-demand age. Monese was born from its founder’s painful experience when he was denied a bank account when he moved to the UK. With the Monese app, customers from all over Europe can open a bank account in as little as 120 seconds, free from the hidden fees and restrictions that legacy banks impose. Monese was the first 100% mobile bank account to ever launch in the UK. The company’s customer base is fast approaching six digits and customers are moving over 0.5€ billion annually. To handle the increasing amount of customer service requests from a growing customer base, Monese was looking to automate its core customer service chat.

Solution

To manage customer support more efficiently, AlphaBlues deployed its Virtual Customer Assistant (VCA) technology into Monese in-app customer support chat. The artificial intelligence based VCA was made the front-line customer service representative for the thousands of customer support requests each month. It was trained to automatically handle natural language and specific questions that customers have about Monese and its services.

Results

1. The Virtual Customer Assistant has had thousands of conversations with customers.
2. The VCA has autonomously solved (i.e. without any human help) more than 15% of the customer service requests it has encountered.
3. It works 24/7 and is available during off-hours with an instantaneous response time. The solution provides instant alerts to customer requests in case of urgent updates and service announcements.

Business Issue

LHV Group is the largest domestic financial group and capital provider in Estonia that is currently holding 2 billion euros of Estonian assets. LHV Group’s key subsidiaries are AS LHV Pank and AS LHV Varahaldus. LHV has representative offices in Tallinn and Tartu. The company employs over 300 people and has more than 5000 investors. LHV Bank services are used by more than 120,000 customers. Pension funds managed by LHV have over 175,000 customers and are the second largest in Estonia by volume. The company is one of the most innovative banks in the region and was looking for a new and efficient way to engage with their customers 24/7.

Solution

To bring their customer service into the messaging era, LHV turned to AlphaBlues and its Virtual Customer Assistant (VCA) technology. AlphaBlues worked with the bank to integrate their customer service knowledge base with hundreds of topics and intents into the VCA which was launched through the bank’s Facebook page onto Facebook Messenger. Artificial intelligence based training was used to increase the relevancy and accuracy of the VCA in order to allow for more self-service by the bank’s customers. The VCA was given a friendly persona and it was taught to understand free text and natural language so as to be able to help people with the wide variety of questions they might have.

Results

1. During the first weeks of the launch the Virtual Customer Assistant already handled more than a thousand customer conversations.
2. More than 50% of the users have rated their experience with the VCA as useful and helpful in providing the answers they were looking for.
3. The solution is available 24/7 and also during regular customer service off-hours providing automatic support to customers..