US-based banking major implements an assistance bot and enhances customer satisfaction with Altysys’ GenAI-powered solution
About the company
A major bank based in the US.
Business Need
In the fast-paced world of banking, delivering seamless customer service is crucial for maintaining client trust and operational efficiency. However, banks must manage high volumes of customer inquiries while ensuring fast, accurate, and compliant responses. Traditional support channels often result in long wait times, inconsistent responses, and an overburdened human support team.
Our client faced challenges in meeting the growing demand for real-time assistance on investment options, financial instruments, and account management. To enhance customer satisfaction, ensure regulatory compliance, and optimize support operations, the client partnered with Altysys to develop an GenAI-enabled solution that could:
- Process thousands of inquiries simultaneously without performance issues
- Ensure all responses aligned with financial regulations
- Provide accurate insights from live financial data
- Maintain performance during trading surges
Solution
After conducting a comprehensive needs assessment, the Altysys team created a solution roadmap and executed the following key initiatives:
- Implemented GPT-4.0 for natural language processing, enabling accurate responses to customer inquiries.
- Integrated the bot with the bank’s CRM and trading databases, providing real-time access to ~50 million records.
- Deployed a real-time AI search engine, delivering precise investment recommendations and facilitating account openings.
- Incorporated compliance guardrails, ensuring all responses adhered to financial regulations.
- Enabled seamless escalation to human agents, routing complex queries for personalized assistance.
- Built a high-availability architecture to handle ~10,000 daily interactions with up to 500 concurrent users while maintaining 95% accuracy for standard queries and 85% for advanced trading-related questions.
Tech Stack
Databricks, AutoML, Mlflow, Databricks Vector Search, Delta Lake, ReactJs
Business Impact
- Improved response times by 70%
- Resolved 80% of the queries without human intervention
- Enhanced customer satisfaction