From IVR to agentic AI: How a financial services provider transformed customer service with Voice AI

About the customer

• Industry: Finance, Insurance

• Region: Europe

• Company size: >10,000 employees

Results

• 96% routing accuracy

• 60% faster resolutions

• 73% 4-5 (out of 5) ratings on AI agents

For industries like financial and insurance services, where every customer interaction requires sensitive data, strict regulation, and 100% accuracy, trust leads customer success initiatives. 

Traditional phone menus were not designed to securely handle the highly-regulated, complicated customer cases that permeate such industries today. Recognizing the challenge of establishing  a routing logic that could accurately handle a wide range of service requests, such as life insurance inquiries, policy information, and retirement planning, a leading financial consulting company decided to replace its IVR system with AI agents from Parloa. 

AI agents that act naturally and dynamically 

Parloa’s AI Agents serve as an extension to the company’s customer and sales partner services teams. Through natural language processing, the agents answer calls and dynamically interact with customers. Parloa’s AI agents are trained to understand complex financial and insurance inquiries as well as to route callers, along with full conversational context, to the right human experts. All requests are pre-qualified, enabling service agents to seamlessly continue the case without forcing customers to repeat themselves. By alleviating the service team and leading customers to solutions faster, Parloa’s AI Agents increase employee and customer satisfaction without compromising the integrity of the financial institutions. 

Complex transformation in a regulated financial environment

Not only did the company need a solution that could manage both the scale of enterprise environments and all of its regulatory compliance, but it also needed a solution that could integrate with its existing core banking and CRM systems. As most of these were legacy systems with fragmented data structures and complex access rules, the task was not simple.

With capabilities such as intent recognition, dialog orchestration, real-time integration, and monitoring, as well as mechanisms for governance and control, Parloa’s AI Agent Management Platform is specifically designed for complex use cases such as these. The platform analyzes incoming requests in real time, extracts intent and context, and processes them within a central orchestration layer to enable precise routing decisions. In addition, seamless system integration ensures that requests are pre-qualified and arrive with full context for the service agent to understand. 

With Parloa, the financial services provider was able to successfully and efficiently execute its transition from IVR to agentic AI and start delivering more personalized experiences at scale.

Interested in learning more about how Parloa transforms customer service with agentic AI? Talk to our team!