Attracting millennial customers with an automated personal finance assistant
Raiffeisen built an AI assistant to automatically handle millennials’ most common questionsExplore Rasa
Raiffeisen, a leading Swiss retail bank, wanted to appeal to younger customers. With the success of newcomer banks like N26 and personal finance bots like Cleo, traditional banks face fierce competition and have to improve their customer experience.
Raiffeisen has a record of excellent customer service and cares deeply about data privacy. In banking, most customer interactions are more complex than simple ‘question and answer’. They require multi-turn conversations.
Using Rasa, Raiffeisen developed an AI assistant to handle longer conversations and train non-technical team members. The product team used fast iteration cycles to learn from real user data and to improve AI accuracy.
Raiffeisen built a successful Proof of Concept within two months, deployed on-prem using Facebook Messenger. The company is now developing a strategy to bring those AI capabilities to their main products on web and mobile.
Location: St Gallen, Switzerland
Revenue: $3.4 billion