Regions Bank selects IBM's AI.
Regions Bank, a subsidiary of Regions Financial Corp. (www.regions. com), has selected IBM's (www.ibm. com) AI technology to help improve customer service and assist bankers in everyday work. According to IBM, in today's digital world, CX is critical since 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 to take on the 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.