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Bendigo Bank Leverages AWS Connect to Up It’s Game In Customer Service

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AWS Connect

Bendigo Bank is reaping the rewards of its transition to Amazon Web Services’ (AWS) Connect platform, reporting significant gains in customer service efficiency and satisfaction since migrating its contact centre operations to the cloud-based solution in late 2023. The shift has driven a 90 per cent reduction in call wait time complaints and a 46 per cent drop in internal call transfers, contributing to a 20 per cent overall boost in customer service efficiency. These improvements have helped Bendigo achieve a 17 per cent year-on-year increase in its Net Promoter Score (NPS), which now stands at +19.7 as of June 2024, according to Roy Morgan. This positions Bendigo as Australia’s second-highest-rated major bank for customer satisfaction, just behind ING at +25.3.

In November 2023, Bendigo completed a six-month migration to AWS Connect, consolidating its contact centre from a fragmented mix of legacy on-premises applications to a unified, scalable platform. The transition has delivered what the bank describes as “greater agility, reliability, and operational efficiency” for its contact centre team, which handles over one million customer calls annually. AWS Connect’s suite of tools has proven instrumental in driving these outcomes. The platform’s advanced analytics, fraud detection capabilities, generative AI, and machine learning-powered insights are helping Bendigo’s contact centre team optimise operations and enhance customer interactions. Notably, the system generates post-contact summaries, tracks customer sentiment, and provides near-real-time dashboards. These features empower agents with a complete view of customer interactions while enabling leaders to identify performance trends and areas for improvement.

According to Megan Papadopoulos, General Manager of Customer Contact at Bendigo Bank, the transition to AWS Connect has transformed the way the team leverages data. “This program of work is now arming our people and leaders with all the intelligence needed to make decisions quickly, act with confidence and deliver results for customers,” she said. The bank has seen a notable reduction in average handling time, allowing staff to focus on enhancing the overall customer experience. With streamlined call flows, effective call tagging, and better utilisation of call reason data, Bendigo is positioning itself for a new wave of customer-focused initiatives.

The benefits of AWS Connect extend beyond Bendigo’s contact centre, with over 50 teams across various divisions now using the platform. These wholesale improvements are driving efficiency across the organisation, contributing to an enhanced service offering for all customers. Looking ahead, Bendigo plans to further reduce friction points, such as on-hold wait times and cumbersome identification processes. The bank aims to continue leveraging its AWS-powered insights to refine customer experiences and adapt to evolving expectations.

Bendigo Bank’s investment in AWS Connect underscores its commitment to innovation and customer service excellence. By integrating advanced technologies into its operations, the bank is not only enhancing its immediate service delivery but also setting a new benchmark for how Australian banks can leverage technology to build deeper, more meaningful connections with their customers. As customer expectations evolve, Bendigo Bank’s data-driven approach and ability to adapt quickly place it in a strong position to maintain its leadership in customer satisfaction. With the groundwork laid, the bank is well-equipped to achieve even greater efficiencies and continue delivering exceptional service to its growing customer base.

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Commonwealth Bank Australia in AI Shakedown

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Following the weekend incident that saw the Commonwealth Bank of Australia (CBA) inadvertently double-charge customers for purchases, the limitations of automated customer service have come sharply into focus. Amidst rising frustrations, the bank’s contact centre was left unprepared, directing anxious customers to a pre-recorded message that failed to address their immediate concerns. For many individuals living paycheck to paycheck, discovering their accounts overdrawn due to false charges had devastating consequences. Grocery purchases and necessities became out of reach, intensifying the urgency for human interaction in moments of crisis.

CBA has been at the forefront of technological innovation in banking, recently launching trials of an AI platform called Hey CommBank, designed to enhance customer interactions. This initiative, powered by Amazon’s cutting-edge technology, aims to revolutionise how clients engage with the bank, allowing for rapid responses and tailored financial advice. Yet, in this specific crisis, the harsh reality surfaced: when technology fails, customers seek the empathetic ear of a human representative. The inability to communicate directly with someone who can address their worries and offer reassurance left many feeling abandoned at a time when they needed support the most.

While CBA’s exploration of AI holds promises for efficiency and cost savings—potentially replacing thousands of local call centre jobs—the recent incident serves as a powerful reminder of the human element in customer service. Chief Data and Analytics Officer Andrew McMullan envisions a future where customers interact with AI in familiar and convenient ways, yet the bank must proceed carefully. Automating responses may streamline operations, but the risk of incorrect or insensitive AI-generated replies raises questions about the success of such a system, particularly when emotions run high and stakes are personal.

In the eyes of critics, including the Finance Sector Union, CBA’s approach towards increased automation seems to disregard the value of its workforce and the needs of its customers. The union has called for greater transparency and consultation, arguing that the push towards AI should not come at the expense of essential human jobs and the quality of customer service. The fear of diminishing roles, especially as the bank has already shifted some positions offshore, has created a noticeable unease among staff and customers alike.

The situation highlights crucial paradox in the banking sector’s rush to adopt AI: while automation can drive down costs—potentially saving CBA up to $600 million in call centre expenditures—it risks alienating the very clients who contribute to those profits. The need for genuine human connection during stressful financial situations cannot be understated, and replacing the empathetic human touch with an AI response may ultimately prove detrimental to customer trust.

As CBA continues its trials with Hey CommBank, the bank finds itself at a crossroads. The promise of technological advancement is tempered by the urgent need for human compassion and understanding. Customers expect a lifeline in turbulent times, not a faceless algorithm. The challenge for CBA will be finding a balance between the efficiencies of AI and the irreplaceable value of personal interaction, especially when its customers need it most. In a world where banking increasingly intertwines with technology, the fundamental truth remains people still need to talk to people.

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