Case Study: How We Helped A Top Bank Re-activate 2 Million Customers

JIQ team was selected to make a Voice Agent for the largest private bank in one of European countries with 1 million corporate clients and 22 million retail customers in the early 2022.

The bank has a top position on the market and has combined its physical presence with modern digital innovations. The project required engaging as many clients as possible within a tight 1-month period and additionally supply marketing department with reliable analytical data on customer engagement.

Challenge

How to re-activate 2 million customers and make them personal offers for a credit card? This was the aim of the project to be achieved withing one month. 

With such outreach intensity requirements, the project could not have been completed with a standard call center approach. An average call center operator is able to make 150-200 calls per day, while our Virtual Agent can achieve 1,000 calls per-second rate.

The Voice Agent was supposed to greet the customer by name, describe an offer from a bank of a pre-approved credit card, and clarify any customer's questions. If the consent is received, the Virtual Agent transfers to the operator for further processing.

Solution

The developing process took us 3 weeks and was divided into two stages:

Results

JIQ team achieved a 60% contact rate within one month. 20% of customers asked for a transfer to an operator, and the conversion rate across all segments fluctuated between 1,8% and 0,5%. After the pilot launch, the client decided to resume re-activating the user base with a weekly performance review. At the moment, the project is ongoing and we are constantly fine-tuning and upgrading the NLU model and Voice Agent script logic.

Key metrics

JIQ Conversational AI Platform for banks

A Virtual Conversational Agent for outbound and inbound calls is an excellent fit for processing hundreds of calls, lowering peak traffic and cutting personnel costs. Explore JIQ Conversational AI Platform on our website and book a demo here to learn more about your business possibilities with voice agents.