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Businesses across industries are slowly realizing the value of having chatbots to serve their customers better. Banking is one such industry where customer queries need to be attended to in a timely manner, and assistance is necessary to improve customer experience. Chatbots can help with this, and the HDFC EVA Chatbot is proof of just how helpful chatbots can be for the purpose of enhancing operations of the banking sector.
What is HDFC Bank’s EVA Chatbot?
HDFC Bank’s EVA Chatbot stands for Electronic Virtual Assistant and is the 1st and largest AI-powered banking chatbot in India. It was developed using the latest technology by Bangalore based Senseforth AI Research Private Limited, which is a forerunner among AI start-ups when it comes to research in the area of conversational banking.
EVA was launched on the HDFC Bank website in March 2017 with the goal of leveraging new technologies to offer better customer service. EVA has managed to carry out over 22 million conversations with HDFC Bank customers since its launch, with an accuracy rating of more than 95.5%. In just six months since its launch, it had already addressed more than 2.7 million customer queries successfully to become the largest banking chatbot in India.
How does it work?
HDFC Bank’s EVA Chatbot makes use of the latest in Natural Language Processing and Artificial Intelligence to comprehend customer queries and reply with relevant responses. Daily interactions with the AI-powered EVA and customers of HDFC Bank go through a conceptual banking knowledge repository, which makes it possible to accurately respond to customers. EVA’s configuration has been trained to be capable of handling more than 8000 types of questions and variations. With such a huge knowledge base, HDFC Bank ensures that customers are directed to the right sources whenever they need help with something.
What can EVA help with?
EVA was launched with the purpose of making the banking experience smoother for customers of HDFC Bank. It’s available to customers on digital platforms like the bank’s website, mobile, as well as a dedicated bank portal. It serves as the first line of customer support.
It speeds up the process of responding to customers by answering queries in a few seconds, while a human agent would require at least 8 to 10 minutes to answer the same query. It operates 24/7 and never gets tired of helping customers out. With every interaction, EVA gets smarter, learns from customer feedback, and improves customer service, providing greater customer experience and higher ROI for HDFC Bank. It offers support in English and Hindi and can handle the workload of more than 550 bank agents.
With EVA, customers can get access to details such as the bank’s products and services, the application process, loan requirements, branch addresses, fees & charges, IFSC Codes of bank branches, and so much more. Queries about customer accounts, cards, and loans can be attended to faster than any human interaction would allow, and the uptime is 99.9%.
Customer issues are analyzed, and behavior patterns are tracked to serve customers better. There are also more than 50,000 semantic variations relating to banking matters.
Checking credit payments, account balances, and bank statements aren’t the only thing EVA can help with. Customers can also use EVA to access Billpay services of HDFC Bank and pay their bills, book bus tickets, or even recharge their prepaid connections. This sets EVA apart from other purely payment based apps.
You’ll get 24/7 assistance with your banking doubts, and more interactions will lead to the delivery of contextual results. The convenience offered by EVA makes it possible to explore banking opportunities and carry out transactions quickly without the need to go through a bank agent. This has revolutionized the banking sector and made it possible to improve customer experience with several CRMs and database integration.
How to connect with EVA?
You can interact with EVA across the digital platforms of HDFC Bank like website, mobile banking, and dedicated bank portal. Invoking EVA is also possible through Google Assistant and Amazon Echo Devices. All you have to do is say, “Ok Google, talk to HDFC Bank” to find EVA with Google Assistant or “Alexa, open HDFC Bank” to interact with EVA through Amazon Echo Devices.
What does the future have in store?
The future looks promising for HDFC Bank’s EVA Chatbot. Connecting through WhatsApp and HDFC Bank’s in-branch robot IRA will be possible. Collaborations with Apple’s Siri and Microsoft’s Cortana will also soon be possible, and EVA will be able to communicate with customers in a variety of regional languages. This will make it possible to connect with customers from various regional backgrounds and ease the customer experience in a language that customers are familiar with. There are also plans to launch EVA on social media in an effort to assist customers through Facebook Messenger and Twitter.
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