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Digital Identity, Security & Online Fraud

Regions Bank selects IBM's AI to power customer service

Monday 29 April 2019 | 11:06 AM CET

IBM has announced that Regions Bank has selected the IBM\'s artificial intelligence (AI) technology to help improve customer service and assist bankers in everyday work.

In today's digital world, the customer experience remains paramount. A staggering 62% of banking customers will consider switching to a competitor after only 1-2 bad experiences, and more than 90% of customers share details about bad experiences with others. Customer service professionals know that most questions do not always require long troubleshooting. Agents spend their time answering similar questions, rather than focusing on more complex, exceptional cases.

To ensure a positive customer experience, Regions Bank is using Watson in its contact centers to help both customers and employees. The company's Banker Assist harnesses Watson Assistant to provide bankers with guidance on customer inquiries, enabling them to resolve customer service needs faster. With Banker Assist, employees can use AI-powered search when faced with a question to provide quicker call resolutions and more consistent answers. Already, 700 professionals at the bank rely on Watson to complete customer problem resolution.

Additionally, when customers call Regions, many interact directly with Watson Assistant receiving rapid and consistent answers to their questions. They can get help on a variety of issues including updating personal information and navigating the Regions Bank website. Letting Watson take on the more routine questions allows service representatives to tackle the more intellectually challenging questions, spend more time engaging with customers and be better informed to resolve issues. Over time, Watson will be trained on other tasks, including analyzing customers' tone to help determine when a customer should be transferred to a live agent.

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