Attract millennial customers with an automated personal finance assistant

Raiffeisen built an AI assistant to automatically handle millennials’ most common questions

The Challenge

Raiffeisen, a leading Swiss retail bank, wanted to appeal to a younger audience. After 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.

The Solution

Using Rasa Platform, 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.

Industry: Banking

Location: St Gallen, Switzerland

Revenue: $3.4 billion

Employees: 11,150

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