The Feeling was Mutual
- Helping Mutual Trust Bank Limited (MTB) Retain Business Online During Covid-19
- Company Size
It has been quite a rough year for Bangladeshi banks to say the least. To set the tone and context, allow us to cherry pick a few lines for you below.
“Banks are currently facing an unprecedented global crisis due to the corona-war, and customer relations are also taking a hit as a result. As part of the recovery approach, banks need to quickly create a robust crisis strategy to keep customers in the loop. Customers are expected to benefit from clear, timely and accurate advice that is updated by banks as the situation develops, both during and at the stage of recovery from the crisis.”
This was published on April 2020 in national daily The Financial Express, spoken by Dr. Shah Md Ahsan Habib, Professor and Director (Training) at the Bangladesh Institute of Bank Management (BIBM).
With the economy on the brink of collapse and interest rates lower than ever imagined, Mutual Trust Bank was one institution which remained positive in tackling the challenge head on. The 20+ year old bank is one of the largest private financial institutions in Bangladesh; renowned for their dependable customer service and intuitive care. Their management accepted the scenario promptly and remained audacious to explore AI technology to serve their customers better, with us.
What were the specific challenges identified?
1. Enabling engaging, interactive communication with customers
2. Reaching global customer user base via omnichannel at optimal cost
3. Providing unique user experience with multimedia mobile content
4. Serving customer queries instantly regardless of time
5. Enhancing call center experience
In order to completely eradicate all customer pain points and ensure customer service beyond satisfaction during the pandemic, leveraging conversational AI technology on MTB platforms was required. As a comprehensive solution to the problem, Alice Labs PTE Ltd introduced the “Mbot.”
What is Mbot?
It’s a virtual assistant which provides 24/7 customer support to MTB’s customers who were not being able to physically visit banking centers. Integrated into their Facebook Messenger, a simple knock activated Mbot. Customers could easily access their bank accounts, services, see locations of nearby ATMs or branches, and even apply for credit cards and loans. All from their favorite social media platforms quickly and safely without delay.
We at Alice Labs completely customized the conversational AI service specifically for MTB. The AI engine is able to understand customer sentiments and queries in multiple languages and navigate them accordingly. Moreover, customers will soon be able to manage online transactions, transfer funds or pay utility bills from Facebook Messenger.
Did it help business?
Definitely. On the day of its launch, 1200+ people used Mbot services for vital information and queries, eventually rising to 5000+ active users and 300+ applications being submitted for different products.
If similar omnichannel AI and comprehensive CRM services are required, visit www.getalice.ai today!
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