Mashreq Bank deploys AI backed banking bot

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Mumbai: UAE based Mashreq Bank has deployed AI backed banking bot to serve customers.

Mashreq’s customers now are being served with digital engagement banking bot, which provides them the access to powerful self-service capabilities with instantaneous service delivery and shorter times to resolution.

With this, Mashreq Bank has become the first bank in the Middle East to deploy an AI powered digital engagement banking bot.

Avaya and its alliance partner – Koopid, which provides AI based customer service and messaging solutions has deployed this digital engagement banking solution to Mashreq.

When any customer calls Mashreq support, the solution enables a seamless transition to a browser-based chat session with a new virtual agent or bot. The system securely authenticates customers, uses native-language processing to correctly interpret their enquiries, interfaces with the bank’s back-end systems, and presents relevant details in a visual format.

“We’re seeing a clear shift in how customers prefer to interact with our bank. After moving away from physically visiting our branches, they are now increasingly engaging with us through the multitude of digital channels that we offer,” said Ellis Wang, Group Head of Technology, Transformation and Information – Mashreq Bank.

“This latest deployment follows the digital-first approach that Mashreq has pioneered in the region,” added Wang.

The chatbot has successfully managed end-to-end resolution of customer requests. If human agent’s support is needed or asked during the chat, then the system transfers the case to an agent with full details of the enquiry up to that point.

“Together, we identified the main reasons customers call the bank’s contact center, and closely examined their service journeys. We then mapped these to the bot’s workflows so that the AI-powered agent can provide the most fluid and intuitive self-service experiences,” Ram Kashi, Koopid’s Co-Founder & Head of Business Development said how Avaya and Koopid deployed the banking bot solution to Mashreq,

“This implementation is yet another demonstration of Mashreq’s commitment to being an early adopter of new technologies that elevate digital experiences to new heights,” said Fadi Hani, VP – Avaya Middle East, Africa and Turkey.

“This AI engine will also serve as a platform to intelligently automate operations for the bank’s customers and employees, paving the way for ongoing service enhancements and increased efficiency across departments,” added Hani.

Simultaneously, Avaya’s flexible contact center solutions have enabled Mashreq to shift its entire contact center workforce to a work-from-anywhere arrangement while helping to ensure that they maintain secure access to the tools and services they require.

Its part of a long relationship between Avaya and Mashreq and has safeguarded the delivery of high-quality customer experiences while balancing an increased number of service enquiries with an increasingly distributed workforce.

“Avaya was extremely supportive and gave us the flexibility to convert to remote agent licenses. This has meant that our customer support teams are empowered, efficient and productive as they work from anywhere, thereby maintaining the extremely high-levels of services our customers have come to expect and appreciate,” said Wang of Mashreq Bank.

(Image source – Mubasher Info)

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