Regions Bank selects IBM's AI to support next-gen CX
Regions Financial Corp., with $129 billion in assets, is a member of the S&P 500 Index and one of the nation's largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. The company serves customers across the South, Midwest, and Texas, and through its subsidiary, Regions Bank, operates approximately 1,500 banking offices and 2,000 ATMs.
Regions Bank has selected IBM’s AI technology to help improve customer service and assist bankers in everyday work.
According to IBM, in today's digital world, CX is critical and 62% of banking customers will consider switching to a competitor after only one or two bad experiences, and more than 90% of customers share details about bad experiences with others.
Regions Bank is using Watson in its contact centers to help both customers and employees. The company's Banker Assist uses 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.
Additionally, when customers call Regions, many interact directly with Watson Assistant to receive rapid and consistent answers to their questions, getting help on issues including updating personal information and navigating the Regions Bank website.
The bank says that by allowing Watson take on the more routine questions, service representatives can 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 additional tasks, including analyzing customers' tone to help determine when a customer should be transferred to a live agent.
Additional information can be found at www.regions.com and www.ibm.com.