Nordea partners Boost.ai for “chat-first” virtual agent drive
Scandinavian bank Nordea has adopted a “chat-first” approach across all markets, leveraging virtual agents from Boost.ai to improve customer enquiry resolution rates at the bank.
Nordea partners Boost.ai for “scalable” virtual agent solution
Nordea says the virtual agents can resolve most customer queries without the need for humans to get involved, boasting a 91% resolution rate for private banking customers and a 95% rate for its 500,000-strong corporate customers.
Nordea’s group head of AI, Mattias Fras, says: “At Nordea, we acknowledge the importance of a scalable chatbot strategy that the Boost.ai platform enables. It is a key component towards human-centred digital transformation.”
After initially rolling out Nova, a Boost.ai-powered virtual agent, the bank now uses 12 chatbots powered by natural language processing (NLP) and natural language understanding (NLU) algorithms.
Boost.ai claims to be the world’s most scalable conversational AI platform, automating customer service and internal support channels for financial institutions with its proprietary self-learning AI and a no-code solution.
Nova averages more than 220,000 conversations per month across the Nordics, attending to the needs of Nordea’s private banking customers, of which the bank has over nine million. Nordea says more than 50% of its customers get the help they need from this initial interaction with Nova.
Boost.ai’s vice president of EMEA, Sanjeev Kumar, says: “By adopting this technology, banks can save millions of minutes in customer time while simultaneously improving the consumer experience.
“Similarly, it gives bank employees time to apply skills where they will make a difference, rather than mindlessly repeating rudimental tasks.”
