Banking Innovation of the Month: CaixaBank’s AI voice banking omnichannel

Digital Reinvention
22/06/2022 article

Qorus-Accenture’s Banking Innovation of the Month award for June goes to Noa, CaixaBank’s voice-activated banking service.

“Your Bank at the command of your voice” is the slogan for Noa, and this Spanish bank’s cutting-edge AI assistant is certainly no ordinary generic FAQ chatbot. Using the voice banking tool from any device, via app or web, CaixaBank’s customers receive personalized service for operations ranging from “send 10 euro to Victor” to advice on pension plans and investments.

With an advanced cognitive system formed of more than 60,000 inputs, Noa VoiceBanking responds to natural language and correctly interprets the context in which the question is asked, understanding the customer's sentiment and urgency of the query.  The AI chatbot then maintains a unique dialogue based on the customer’s profile and the context, combining customized responses and content with interactive graphics and animations designed for the specific user.

This enhanced user experience has notched up a high level of customer satisfaction. Launched in phases over the past few years, Noa already has a 96% confidence index, with more than 3.4 million customers using it to manage their personal finances. The AI assistant has consolidated its position as the first contact point between CaixaBank and its customers, absorbing more than 60% of contacts received by the bank, thus generating yearly estimated savings of more than €8.5 million.

Keeping pace with the latest AI developments, CaixaBank is constantly working to refine the user experience and expand the range of products and services available through Noa. Initially launched on the CaixaBankNow app, the voice banking service can now be accessed across all the bank’s online channels, as well as via WhatsApp and AI assistants such as Alexa and Google. Upcoming features include card activation by voice and customized loan simulation.

There’s no turning back the clock on the AI revolution, and the ability to stay ahead of the competition will increasingly hinge on customer satisfaction with innovative AI tools – put simply, combining the convenience of AI tools with the personalized service that we are used to receiving from human personnel. CaixaBank is already leading the way in this field, and we look forward to seeing more trailblazing AI innovations emerge in the financial services industry in the near future. 

CaixaBank’s innovation will be automatically selected as a nominee for the Qorus-Accenture Banking Innovation Awards 2022. Submit your innovations on the Banking Innovation portal until 13th July for July Innovation of the Month. Participation is free of charge and open to all Qorus members.

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