Cathal McGloin, CEO of ServisBOT writes, “The COVID-19 pandemic has created major spikes in calls to financial sector helplines dealing with customers who are concerned about temporary business closures, or seeking information on mortgage holidays and insurance cover.
Easing the pressure
With call volumes surging at many contact centres, moving customers from a voice to a text-based channel and encouraging some of them to self-serve via your website or mobile app helps to reduce pressure on contact centre agents. A call-deflection solution doesn’t have to be complex, costly or time-intensive, but it can be extremely effective in managing additional call volumes more cost-effectively, while still providing your customers the information that they need to allay their concerns.
If customers are able to interact with a chatbot initially and this resolves their immediate queries, this can significantly reduce call volumes and the business can still enable the bot to handover to a customer service agent for customers that require further assistance.
Setting up a Chatbot in 48 hours
Whether your interactive voice response (IVR) is based on legacy technology or is a modern cloud-based solution, it’s possible to deflect customers from an inbound voice channel to a messaging channel. We know, because we have done this for a client who considered this impossible with their legacy on-premise IVR system. Spinning up a solution took just 2 days and allowed them to successfully deflect calls, automate the response, and still offer customers a path to live chat.
Employing a Chatbot as a Call Deflection Solution
Financial services businesses can launch a very simple bot. The bot can be as simple as just pointing a customer to the COVID-19 FAQ page or it can be an extension of an existing customer service bot that offers multiple capabilities. On day one it may just be used to quickly assess queries and handover to a live agent. However, by gathering the training phrases from customer chats, the bot can be made progressively smarter and add capabilities, so that it can be trained over the course of a week to start automating your customer service
After a week the bot can start automating to become more self-sufficient and take more of the burden from your customer service agents, allowing them to handle more complex customer issues.
Using a chatbot opens up a whole new path to automation. Once customers start to engage with your intelligent virtual agent, the bot can handle simple requests, direct them to the relevant information on your website, or help them transact in a self-service manner. All of this can happen without the need for them to engage with an agent unless they specifically request this, or the bot escalates the request to an agent. It can even be integrated with your live chat systems so that the bot works in parallel with live agents when needed.
During crisis periods, when interactions with concerned customers need to be handled well, call deflection using a chatbot or virtual agent takes the pressure off contact centre agents. It also introduces an automation path that can help customers around the clock.
Once your chatbot has been trained to respond to common customer queries round the clock and reduce the pressure on your contact centre staff, your employees can focus on providing the best care for your customers who urgently need to speak to them. Introducing virtual assistants sends a clear message to your customers that they are your priority and increases the resilience of your business against future emergencies.