NEW YORK, April 25, 2019 /PRNewswire/ -- IBM
(NYSE: IBM) today announced that Regions Bank has selected the
company'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
others1. Customer service professionals know that most
questions don't 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.
"At Regions we are investing in technology to make banking
easier for our customers and to recruit and retain talented
associates," said Chris Brasher,
head of Bank Operations for Regions Bank. "IBM Watson's automated
intelligence is an important tool that allows us to operate more
effectively by understanding customer needs. We are identifying
additional use cases for this technology as part of our focus on
continuous improvement across the company."
"The use of artificial intelligence among banks continues to
rise, helping financial institutions make better use of vast
amounts of data, analyze patterns, evaluate risks and improve
customer service," said Beth Smith, General Manager, IBM
Watson AI. "Regions Bank is focused on improving customer and
associate relationships and Watson
will help them continue to provide a great customer
experience."
About Regions Financial Corporation
Regions Financial
Corporation (NYSE: RF), with $129
billion in assets, is a member of the S&P 500 Index and
is one of the nation's largest full-service providers of consumer
and commercial banking, wealth management, and mortgage products
and services. Regions serves customers across the South, Midwest
and Texas, and through its
subsidiary, Regions Bank, operates approximately 1,500 banking
offices and 2,000 ATMs. Additional information about Regions and
its full line of products and services can be found
at www.regions.com.
About IBM Watson & Artificial Intelligence
A
world leader in AI software, services, and technology for business,
IBM has deployed Watson solutions
in thousands of engagements with clients across 20 industries and
80 countries. Additionally, IBM Research is a world leader in
the science of AI. In 2018, IBM secured over 1600 AI-related
patents. And, IBM recently revealed its leading-edge Project
Debater, created by IBM Research scientists
1. CCW Digital Report:
https://www.slideshare.net/NicoleLeong1/ccw-executive-report-customer-experience
Contact: Christina Trejo,
848.702.4607, Christina.Trejo@ibm.com
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SOURCE IBM