CaixaBank introduce an AI based virtual assistant for its employees. They could immediate access to large volumes of information, interacting with users using natural language and learning from experience.
The assistant, developed by the artificial intelligence technology of IBM Watson. That allow the individual managers to immediate response on a wide variety of complex issues. From internal regulations to legislation, questions about banking products, human resources , technology, etc. It is estimated that around 80% of the employees’ usual consultations can be solved through this system.
The service will gradually be deployed throughout the commercial network of CaixaBank. The largest financial sector in Spain, throughout the first half of 2018. Currently, it has access to 10,000 employees from the offices of several local divisions of the unit.
The progressive implementation of this technology is an important factor for the development of the project. Which benefits both the users, who have to learn to relate to the assistant using natural language, instead of the usual keywords of the search engines. Such as, their own system learn every day from the conversations held with people and the questions asked. The CaixaBank forecast is for the system to reach 10 million queries in 2018.
Accessible from anywhere
To access the system, the user only has to connect to the financial terminal of CaixaBank from their usual working device, which, in most cases, is usually a Smart PC tablet. The employee can make the query from anywhere.
The consultation is exposed through a chatbot system. So that the assistant understands a question formulated in natural language and responds in the same way. For the policy of the project, CaixaBank and IBM have trained the system using more than 60,000 variations of possible questions. In addition, every day, from the consultations received, the system can enrich their level of understanding of the language and their capacity to respond.
CaixaBank estimates that 80% of employees’ usual operational consultations can be solved through cognitive application. If the system does not solve the user’s problem, the question automatically redirected to a chat attended by an internal agent. If, no solution is found, the case goes to the call center call center. In addition, CaixaBank has created a team of technical specialists. Who will review queries not solved by the system and use them to continue training it on a daily basis.
The contribution of IBM Watson
Among the technologies used for the development of the project, specifically IBM Watson play the the main role for Conversation and Discovery technologies.
Note that CaixaBank and IBM Watson have successfully collaborated in the creation of these pioneering financial services projects. In fact, the financial institution and the technology company worked together to train IBM Watson in Spanish. The world’s first experience in this language. In addition, they have jointly developed the first application of cognitive computing in the financial sector in Spain. With a support service for advice on Foreign Trade operations.
CaixaBank, leader in the development of artificial intelligence for banking services
CaixaBank has been the most innovative bank in the application of artificial intelligence to financial services in Spain.
In aThe financial institution was the creator of the first chatbots in the sector for direct customer service. By apply the cognitive technology of IBM Watson. A project that led to The Banker, a publication of the Financial Times Group, for the CaixaBank Technological Project of the Year 2107.
The most recent launch of the unit aimed at clients in the area of artificial intelligence has been the Neo chatbot. Include into the new mobile apps of CaixaBank. Neo communicates with customers by voice or text, answers questions about CaixaBank products. Supports the customer with the different functionalities of the bank’s mobile application.
CaixaBank, benchmark in innovation
In addition to the implementation of artificial intelligence, CaixaBank has developed innovation projects that have marked technological milestones in the sector. Such as the first commercial implementation in Europe of contactless mobile payment systems. The creation of the first contactless ATMs in the world or the launch of imaginBank, the first mobile bank in Spain.
CaixaBank is also a pioneer in the use of big data. A key element of the entity’s 2015-2018 Strategic Plan for its applications in personalizing the commercial offer and linking clients. In addition, big data allows CaixaBank to streamline the decision-making process and develop new financial and banking services based on massive data management in any format.
Thanks to this strategy, CaixaBank has ranked among the best-rated banks in the world for the quality of its digital services. Among other recognitions, highlights the Global Finance magazine’s prize as Best Digital Bank in Spain. Best Digital Bank of Western Europe 2017 and Best Bank of the World in Social Media 2017.