In the dynamic and ever-evolving world of banking, Bulgarian American Credit Bank (BACB) found itself at a crossroads. The traditional banking model, characterized by in-person interactions and manual processes, was becoming increasingly outdated. Customers were demanding more digital, convenient, and personalized services. In addition, the banking landscape was becoming more competitive, with non-traditional financial entities and fintech startups offering innovative solutions and services.
In this context, BACB recognized the need to enhance the customer experience and provide easy access to information. The bank understood that a superior customer experience could be a key differentiator in the crowded banking market. It could help build customer loyalty, attract new customers, and ultimately drive growth and profitability.
To meet this need, BACB decided to leverage the power of technology. The bank believed that artificial intelligence (AI) could play a crucial role in transforming the customer experience. AI could automate routine tasks, provide instant responses to customer queries, and offer personalized services. Therefore, BACB partnered with DigiTech Consult’s team of developers to create BIANCA, a DRUID AI-powered virtual assistant.
The challenge BACB faced was multi-faceted. On one hand, the bank needed to meet the rising customer expectations for fast, simple, and seamless banking experiences. Customers wanted to get answers to their questions, apply for loans, or open accounts without having to visit a branch or wait on the phone. They wanted to do all these tasks at their convenience, from the comfort of their homes or offices.
On the other hand, the bank needed to address a wide range of customer queries related to various banking products and services. These included credit or deposit and product savings, necessary information for different types of accounts, overdraft, or mortgage loans. The bank also needed to cater to both individuals and business clients, each with their unique needs and preferences.
Moreover, the bank needed to ensure that the solution was scalable and adaptable. The solution had to handle a large volume of customer queries and interactions. It also had to evolve with changing customer expectations and technological advancements.
BIANCA was introduced as a solution to these challenges. BIANCA is not just a virtual assistant; it is an AI-powered platform designed to transform the customer experience. BIANCA could engage in an informal talk with customers on BACB’s website, addressing various topics that may arise. It could provide information and answer questions on a wide range of topics, making banking easier and more accessible for customers.
BIANCA is equipped with advanced AI capabilities. It can understand natural language, enabling it to understand customer queries and provide relevant responses. It could also learn from past interactions, improving its responses over time. Moreover, BIANCA is designed to be multilingual, catering to a diverse customer base.
With BIANCA, customers can now simply visit BACB’s website and access the virtual assistant to get answers to their questions or submit their requests. BIANCA was ready to provide quick and accurate responses, revolutionizing the customer experience.
The introduction of BIANCA was a significant step in BACB's digital transformation journey. It demonstrated the bank's commitment to leveraging technology to enhance customer service and make banking more accessible and convenient for its customers. It also set the stage for the bank's future initiatives in AI and digital banking.
The introduction of BIANCA was a significant step towards providing an enhanced user-centered experience for BACB's customers. With BIANCA, the customer experience was simplified and streamlined, making it easier than ever for people to manage their finances.
BIANCA was designed to handle various use cases, including FAQs, loan applications, route to human, overdrafts, mortgages, and surveys to collect feedback. This versatility made BIANCA a valuable tool for customers, addressing a wide array of their banking needs.
Future plans for BIANCA include the ability to identify users and provide personal information about account balances, credit obligations, upcoming installments, and any other personal information related to the products the user uses. BIANCA will also be able to assist in obtaining online credit, digitally signing credit contracts with Evrotrust, and opening a Net Account without visiting a bank office. For a better customer experience, BIANCA will soon be able to conduct voice communication, as well as communicate with users on Viber and Facebook Messenger.