Boost Bank Agent Efficiency with AI Tools

The buzz around AI is starting to slow down, and we're seeing fewer sensational headlines about it. Instead, we're noticing that information about investments in AI development has become a routine part of business operations. The adoption of AI solutions in financial sectors varies with intensity. Certain implementations and uses of AI (e.g. database management, transaction analysis) are not visible to the average Financial Advisor. Let's examine how AI tools we implemented as LiveBank to our customers impact efficiency and level the playing field between new and experienced employees. Efficiency is a crucial measure that we use to evaluate our employees.

boost advisors efficiency

The Advisors Era

Financial Advisors, Backoffice and Contact Center teams are the pillars on which customer service relies and sales in financial institutions. Even the most motivated employee can feel overwhelmed by the volume of data and tasks they must handle. These employees deal with more email inquiries, voice calls, and documentation processing – data shows that up to 30% of service time is spent on administrative activities. They also have fewer opportunities to build relationships since customer interactions are more transactional. Artificial intelligence enables agents to simplify their work, allowing them to work smarter and faster while maintaining operational fluidity. At LiveBank, we understand the need for all technology to facilitate complex work in the financial sector.

ChatGPT and Its Impact on Work

By releasing its language model after years of research, OpenAI has supported and streamlined human work in various fields, contributing to increased efficiency. ChatGPT’s advantage lies in its ability to process and generate natural language text. Its widespread use has led to a better understanding of a whole range of technological solutions that facilitate understanding context, providing answers, and generating summaries. ChatGPT was the impulse that once again showed what possibilities lie in the use of AI.

Improving Efficiency in Digital Banking – AI Handles Routine Tasks

In old sci-fi movies and TV shows like “The Jetsons,” robots appeared to perform routine tasks such as cleaning. In these stories, humans focused on creative, more complex tasks. First-generation chatbots took over routine customer service tasks like scheduling appointments or answering FAQ questions (simple choice paths). These virtual assistants are available 24/7, providing quick responses to customers. All AI-powered bots (chat, video, voice) offer even greater capabilities and time savings for both customers and advisors – and they sound more natural than their predecessors.

The Current Generation of Chatbots

Today’s chatbots provide information about products and services, validate contact leads, and support sales. A well-trained bot can gather data about customer contacts, preferences, and basic information needed in the sales process(like purpose, and amount). Thus, agent engagement comes as the next step in customer service. The bot has already classified the customer as the customer. How does this process work?

The client is interested in a mortgage loan. The bot greets the client The bot converses with the client – A simple conversation flow will help determine where to direct them (sales or a support team). Based on the conversation, the bot suggests a suitable solution and closes the contact without involving a human employee. If the bot’s procedure involves handing over the contact, it thanks the client for the conversation and passes the contact to the appropriate team. The contact goes to the service team (sales or support) and includes complete information about the client and their needs. Such a contact sent to the service team using LiveBank is well-recognized and has a full contact history. It is now up to employees to provide a satisfactory product solution to the client. The time saved by the bot allows for shorter final conversations. In this way, the bot meets the expectations related to personalizing the customer experience by tailoring the conversation to individual preferences and expectations.

Gatekeeper for Sales Personnel

The role of AI ensures consistent, standard-compliant conversations. An important aspect to remember is the classification of customers before connecting them with the sales team. The main obstacle to effective sales is the contact database. A specialist must conduct many short conversations before having one that results in a new sale. The problem with many processes is that too many interactions do not translate into new sales or increased customer engagement with existing products. In such cases, the bot relieves consultants from conversations with unqualified customers. How to change this situation?

The simplest example is a proactive chatbot on the website, which actively offers products to the customers and interacts with them. A bot that draws information from the CRM, including the next best product prediction mechanisms or recently viewed offers, approaches the customer with a proposal to take advantage of an offer. The advantage of this approach allows handling practically unlimited interactions at once, based on customer activity (e.g., logging into the system, staying on the offer page for 10 seconds, etc.). The bot will not get tired, bored, or discouraged when receiving negative responses. It will maintain politeness and patience throughout the entire customer interaction. When the customer shows interest in the offer, the bot will pass the contact to a qualified salesperson who will finalize the transaction. Analysis of the results achieved after implementing bots shows a 2 to even 3 times increase in the number of contacts closed successfully. These results are achieved by passing on to the sales team clients who qualify for the offer – thereby effectively improving the database. For the client, such a transfer will be “invisible” because everything will take place in one window. An advisor who receives such a call in LiveBank will have access to the conversation history and a preview of the customer’s card thanks to CRM integration. Analysis of the results achieved after implementing bots shows a 2 to even 3 times increase in the number of contacts closed successfully. These results are achieved by passing on to the sales teams those who qualify for the offer – thereby effectively improving the database.

AI Prompter: Every Consultant’s Friend

As a consultant, I have used many different tools and sources of knowledge to prepare answers for clients. It’s a well-known scenario in conversations (whether voice or chat) – the consultant asks for a moment of patience to search for or obtain information. This is where AI Prompter solutions come to the rescue. For example, in LiveBank we offer separate solutions AI Helper for customers’ questions and AI Prompter for advisors. How does such an AI Helper solution work? Based on the client’s question/message, it prepares a response using a predefined knowledge base. The main advantage of this mechanism is the ability to quickly prepare an answer. Despite the automation, the advisor has full control over the conversation and can adjust the content of the response before sending it to the client, allowing for personalized communication. The result? The client receives information faster. Of course, the consultant uses the AI Prompter as a knowledge base, providing hints on a given topic. One of the implementations is that the Advisor has access to AI Prompter during video conversations with the client. Thanks to this, when a customer asks a question, e.g. what conditions of the loan offer were in force in 2020, they can provide an answer without suspending the conversation with the customer. He simply asks a question to the AI Prompter, and it gives him an answer along with providing the source of information in the material. The integration of dispersed data occurs on multiple levels and is based on selected sources of knowledge such as regulations, procedures, fee tables, etc. A well-prepared knowledge base for the AI Prompter is often secured so that materials for internal use may or may not be used to generate a response to a question. The context of whose question is being answered (client’s or advisor’s) is of great importance here. Instead of wasting time searching through available sources of knowledge, the consultant uses AI Helper/AI Prompter solutions to generate an answer.

Receiving Too Many Emails? AI Process Automation is the Solution for You

To increase the efficiency of email teams, it’s advisable to implement a comprehensive approach that includes not only the automation of message assignment but also sorting, prioritizing, and preparing responses. One of the main tasks is automating and classifying emails, which is time-consuming. Often, emails are processed in the order they are received, following the first-in, first-out principle. Therefore, reaching a valuable client email, which is crucial for the organization, can take time (hours, days). A consultant must sift through spam and unserviceable emails. Automating these actions is a task for AI, which excels at analyzing large datasets.

The first benefit is that “junk emails” do not reach customer service. Secondly, emails can be immediately sorted and assigned to the appropriate categories and directed to the relevant team handling that type of issue. For example, emails with offer inquiries will be directed to one team, while complaints will be directed to another. AI’s role is more extensive—it can prepare a predefined response for each email according to the institution’s standards (email layout, politeness level, etc.). Within seconds, based on text and context analysis, the AI solution can prepare a response using the sources it has access to. Importantly, while preparing responses, it trains itself on previously prepared materials—the effect of scale means that the more emails it handles, the faster and more accurately it will do so. The back-office team’s role is to ensure process accuracy, monitor the bot’s performance, and finalize or edit the message sent to the client. Engaging AI can reduce email handling time by over 70%.

Staying on the email topic, AI algorithms excel at detecting unusual and typical behavior patterns, providing interesting statistical data in real time. Such data can help prepare FAQs and responses, serving as material for clients.


Arthur C. Clarke wrote, “Any sufficiently advanced technology is indistinguishable from magic.” In the case of AI, it’s similar, with the difference that the magic lasts only until you become familiar with the technology. AI’s mission is simple: to support and improve human work. The solutions we integrate and offer within the LiveBank platform meet these criteria. Thanks to advanced AI technology, they facilitate work and customer service, contributing to achieving new performance indicators. Importantly from the users’ point of view, the technology interpenetrates each other, allowing the creation of any configurations for business processes.Even a newly hired employee, with access to AI tools, can respond as if they had months of experience in the position. AI is a reliable assistant that automates routine tasks, supports decision-making processes, and personalizes service. AI offers what every employee needs most: time. Time that can be dedicated to helping customers navigate the world of financial products.

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