Banking Innovation of the Month: Intesa Sanpaolo’s smart knowledge base through GenAI digital advisor

Digital Reinvention
11/06/2024 Article

This month’s Qorus-Infosys Finacle Banking Innovation Award goes to Intesa Sanpaolo for their Smart Knowledge Base powered by generative AI (read the full case study). This innovation aims to revolutionize how information is retrieved within the bank, starting with its customer service, significantly elevating both customer experience and operational efficiency.  

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In today’s fast-paced information age, traditional search methods often yield multiple results that require users to sift through independently. Generative AI changes this paradigm by enabling conversational searches that provide quick, tailored and accurate responses. Intesa Sanpaolo has harnessed this capability to develop a Smart Knowledge Base, beginning its application within their Digital Branch to enhance customer service interactions. 

The Digital Advisor project allows customer service agents to interact with the system conversationally to retrieve real-time customer information, access detailed product and service data swiftly, receive personalized suggestions for customer management, and execute operations or navigate bank applications directly through chat commands. This innovative tool not only streamlines the retrieval of information but also positions Intesa Sanpaolo ahead in the competitive banking sector by significantly enhancing the efficiency and quality of customer interactions.

The GenAI Digital Advisor is more than just a tool for the Digital Branch; it represents the first step towards a comprehensive transformation in how the bank interacts with its knowledge base. By leveraging AI, the bank aims to optimize various processes, including support for physical branch agents and initiating marketing activities. The technology could eventually be made available to customers, providing 24/7 support for inquiries about products and services.

The project stands out for its innovative approach to integrating GenAI with human expertise. The AI tool is designed to complement human efforts, enhancing productivity without replacing human employees. The solution is tailored to meet the real needs of employees, involving them in the design process through workshops and interviews. In feedback from the project’s initial phase, 4.5 out of 5 agents expressed enthusiasm, affirming its benefits.

Following the Digital Advisor’s launch in March 2024, it is gradually being rolled out to a wider customer base in line with achieved results, with ongoing refinements to ensure high standards. Building on the solution’s impressive 85% minimum accuracy rate, regular fine-tuning aims to further enhance its accuracy and efficiency, while laying the groundwork for subsequent scale-ups. 

Looking ahead, this initiative’s potential widespread adoption across the bank holds great promise. Intelligent search capabilities for unstructured information are crucial for various processes, making a smart knowledge base powered by GenAI valuable for both business and governance areas, with far-reaching impacts for employees and customers.

Intesa Sanpaolo’s innovation exemplifies a forward-thinking approach to improving both employee efficiency and customer satisfaction. Its scalability promises to unlock further benefits, setting a new benchmark in the banking industry. We look forward to seeing more such applications of generative AI across financial services, and are happy to highlight this project as Innovation of the Month for June.

Intesa Sanpaolo’s innovation will be automatically selected as a top-9 nominee for the Qorus-Infosys Finacle Banking Innovation Awards 2024. Submit your innovations on the Banking Innovation portal until 21 June to be considered for our global and regional awards. Participation is free of charge.

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