Innovating the Banking and Finance Sector with Talkbots: A Roundtable Session with Bank Tabungan Negara (BTN)

Voice AI has brought about fundamental changes in the way companies acquire, engage, and retain their prospects and customers. It facilitates businesses to transform digitally and enables them to grow at scale.

In our recent roundtable discussion, Innovating the Banking and Finance Sector with Talkbots : A Roundtable Session with Bank Tabungan Negara (BTN), we heard some great insights from Pak Yan Putro, Segmentation Department Head of BTN, on some of the problems they had faced and why they chose WIZ.AI Talkbots as their solution. He also addressed the frequently asked queries, which companies often ask before deploying conversational Voice AI.

The event attracted a highly engaged and interactive audience with more than 140 registrants coming from diverse sectors such as insurance, e-commerce, telecommunication, healthcare, and fintech. It shows that many industries are looking to explore conversational voice AI for their businesses. Plus, hearing about how a large national bank successfully deployed an innovative technology LIVE is not something that you come across every day, right?

Unwilling to innovate?

The roundtable started with Herbert Hadyanata, Country Manager – Indonesia, WIZ.AI, revealing the biggest reason behind why companies withdrew their intention to innovate using AI talkbots. Interestingly, it was not the question of the technology’s capabilities. Instead, it often originated from the companies’ doubt on whether the implementation would replace their existing workflow.

In the case of WIZ.AI, the technology complements and streamlines the current multi-channel workflow. To achieve this, the best practice for companies is to explain the system that has previously been set up to the talkbot provider.

This will help in identifying in what use cases the talkbots can bring the most value to the company. Having open communication from the beginning will strengthen collaboration and optimize the benefits of applying talkbots without compromising any of the existing systems.

“We are not trying to replace your existing system. Talkbots complement it and the integration itself can be done easily,“ highlighted Herbert.

Herbert also shared some statistics that showed increased business efficiency indicators from clients, such as the number of calls and lead acquisition that talkbots could achieve compared to human agents.

BTN’s breakthrough

Following Herbert’s presentation, Yan Putro, Segmentation Department Head of BTN gave a real example of how talkbots have been a game-changer for BTN.

For a bank with an image of being ‘traditional’ and ‘conservative’, adopting talkbots was truly an innovative step for BTN. What’s more, the bank utilized talkbots to address their priority banking customers instead of regular customers – something that most banks would avoid.  

Why?

“We believe in talkbots’ ability to perform and are confident in their high level of customization,” said Yan.

“Talkbots have proven to yield a higher conversion rate at a lower cost of acquisition,” he continued. “They have helped us reach our 30,000 priority banking customers and resulted in a 100% contacted rate, something that would be hard to achieve with our 300 sales workforces.”

With an average of 50% connected rate across BTN’s 3 different campaigns, the talkbots have surpassed a higher rate of results compared to human agents.

Both industry experts’ presentations intrigued the audience to ask questions that led to an engaging discussion. From the Q&A session, the audience further learned about the powerful talkbots capabilities in:

1. Offering elasticity and flexibility in capacity depending on business demand at a given time
2. Continuously learn from new cases, which over time, enable them to become more agile in responding (an example of this is in understanding local dialects or terms and responding accordingly using the market’s national language)
3. Leveraging customer experience (CX) while driving sustainable outcomes for the business (no more reducing costs at the expense of customer dissatisfaction)

Talkbots as your teammates

By applying the right AI applications, companies will stay ahead of the game in this digital era. Conversational AI in the form of talkbots is one way to better navigate your business automation. They assist your organization to perform better alongside the workflow that you currently run.

The speech analytics from the conversation can also allow companies to gain valuable insights. And if analyzed further, it can even set your business apart from the fierce competition.

If you would like to watch the recording of the event (available only in Indonesian), contact: Nicholas.ko@wiz.ai. Or, if you are ready to step forward and hear a demo of our talkbots, schedule a demo here, and our team will be in touch with you within 24 hours.