One leading global bank intent on seizing first-mover advantage in its digital strategy is working with IPsoft to plan how to transform key operations by incorporating Amelia. In order to test her flexibility and breadth of understanding, the bank set out a project that could demonstrate the depth of her capabilities by incorporating her into the mortgager broker advisory team.
Around the clock external mortgage brokers request information about bank products and policies. Their questions need to be answered correctly in order to ensure that subsequent mortgage applications are compliant and can lead to a successful approval. A fast response can make the difference between a broker selling the bank’s product or that of a competitor. By equipping Amelia to respond to queries, a bank could be sure to satisfy both of these requirements. Just as one would with a human agent, the first step in Amelia’s training was to assemble the relevant data to give her the knowledge required to answer 160 of the most common queries raised by mortgage brokers. The project team then began to test her ability to manage the questions.
The questions themselves were highly challenging. For example, “My customer is self employed and has land and property income, do you take this into account?” is an interesting question for Amelia to answer as there isn’t enough information shared by the customer to match all the parameters defined for providing a response her training.
Amelia was able to understand the underlying intent, which is to confirm the acceptable income types for a mortgage application. However, to provide an accurate response Amelia also needed to interpret ‘land and property income’ as a synonym for rental income and seek clarifying information in order to see how this attribute might impact the mortgage types available. As a result, Amelia would ask “Is your mortgage type residential or buy to let?” Only once this has been answered is she then able to determine the answer on the basis of having established employment status, additional incomes available and purpose of mortgage.
Over the space of just two weeks Amelia’s ability to comprehend the questions however they were phrased and provide the correct response rose dramatically. At the end of training period Amelia could answer 120 of the full 160 with an 88% success rate.
The speed with which Amelia’s performance improved has now led to the bank extending the scope of potential scenarios in which she could impact operational efficiency and revenue growth.