Creative Virtual’s V-Person™ Technology Reduces Live Chat Volumes by Over 80% for Premier Online Financial Service Company
Online investing customer expectations exceeded within ten months
Creative Virtual, a leader in self-service customer experience management solutions for global enterprises, today announced that a well-known US-based online financial firm, offering a full suite of brokerage, investing and related banking products, has reduced live chat volumes by over 80% with its V-Person implementation. Since its V-Person went live in February of 2012, only 5% of conversations with the virtual agent have needed to be escalated to live chat.
“Creative Virtual’s financial service expertise is underscored with the results V-Person’s intelligent, natural language virtual assistant technology has reaped for our customer within a short period of time,” says USA CEO Richard Simons. “Our goal is to continue refining our industry expertise and partner with large marquee financial institutions looking to evolve their self-directed customer service strategy with cost-effective solutions pivotal to building customer loyalty, expanding their advisory business, and increasing ROI.”
Reduced Customer Costs
In late 2011, the financial services company selected Creative Virtual’s V-Person to reduce the volume of non-customer specific live chat conversations and to enable customers to easily engage with an intelligent virtual assistant to access personalized account information, while driving down customer support costs.
Assessment of customer transcripts revealed that 80% of conversations taking place could be answered by V-Person. V-Person reporting provided data and insights into the questions customers were asking and isolated questions that were prompting both consistent and inconsistent answers. This allowed the company to improve responses, assign questions to intelligent virtual assistants, and ultimately reduce the workload of the company’s live agents so they could focus on higher-level tasks.
V-Person easily integrated with the financial firm’s existing Oracle Live Chat platform and provided a seamless transition from one support channel to another available on the web. In the next phase Creative Virtual’s technology will be integrated with the company’s back-end system to ensure a personalized user experience. Now state-of-the art Natural Language Processing (NLP) ensures that the virtual agent understands complex user questions. V-Person technology also meets the stringent reporting and controls outlined in SEC Rule 17a-4, and is compatible with Linux or Windows.
Creative Virtual’s V-Person technology has been extended throughout the organization and is available on over 50 webpages, including secure login areas to help users set up their employee stock plans and online trading accounts.
Expanded Customer Strategy
Creative Virtual’s V-Person’s reporting capability assures the financial services firm has more intuitive insight into their customer’s questions and provides real-time answers 24/7. As a result, the company has dramatically minimized customer support costs, and has freed up its live chat agents’ expertise to attend to higher-tier issues and focus on new customer acquisition.
As the firm continues to roll out the virtual agent onto new pages, it is also planning implementation of V-Portal™, Creative Virtual’s multi-channel knowledge management solution, in early 2013 to seamlessly answer customer questions across a range of communication platforms.
The addition of V-Portal will give the organization substantial competitive advantage by providing customers with a more personalized online experience that avails the company the unique ability to manage content and deploy multi-channel virtual assistant technology from a single platform at a lower cost per transaction.
To learn more V-Person or V-Portal technology, please visit our Products page.