Spar Nord uses AI to cut emails handled by customer service by 50%
Applying artificial intelligence solutions in the customer support scenarios
Spar Nord, one of the five biggest retail banks in Denmark, is using a solution developed by 2021.AI to automate email handling at their customer support desk and offload mechanics from support desk employees. The solution was easily implemented by the bank’s in-house IT team and is now producing a positive impact on the efficiency of an entire department, while also accelerating customer service operations and taking the company one step closer to being an AI-driven enterprise.
At Spar Nord, front-line customer service managers spent a lot of time sorting emails and forwarding more complex customer requests to the financial advisors. Spar Nord executives wanted to explore how they could use technology to serve their customers better, improve efficiency, reduce costs, and compete in an increasingly digital marketplace. The main goal of the project was to find a way to save time spent on emails by customer support, and at the same time keep a high customer satisfaction.
“We went from challenge to implementation and actual cost savings in a very short time span. We received an algorithm that was clean and easy to implement in less than a week. The collaboration with 2021.AI showed us that AI is the key for Spar Nord to remain competitive in the future.”
Leif Lind Simonsen
Communications & Business Dev. Director, Spar Nord
For Spar Nord, we developed an AI algorithm that can handle the increasing number of email queries. By screening incoming emails based on a learning dataset of previously received emails, the algorithm is able to determine whether to forward them to customer service or financial advisors. The algorithm cuts the number of emails that the customer service team needs to handle manually by 50 pct., which significantly cuts ongoing costs and dramatically increases speed of execution and efficiency in Spar Nord’s service desk.
Spar Nord & 2021.AI worked together to:
→ Apply AI solutions in customer support scenarios
→ Automate the sorting and forwarding of the emails to the right employees
→ Save the company’s costs of hiring additional customer service personnel
→ Accelerate the processing of queries from customers, improving their satisfaction level with the bank’s support desk
In the early stage of the project 2021.AI consultants provided insightful AI advisory and guidance for Spar Nord on how to apply artificial intelligence solutions in the customer support scenarios. In the next phase, 2021.AI’s data scientists developed an algorithm from scratch, which added the power of automation and artificial intelligence to the incoming email queries directing them to the right employee, customer service representative, or financial advisor.
When 2021.AI professionals delivered the algorithm to Spar Nord’s IT department, they successfully deployed the algorithm in production in a few days. The IT department within Spar Nord now owns the algorithm, while the entire customer service team benefits from the successful AI project implementation.
→ 2021.AI’s experts leveraged Natural Language Processing (NLP).
→ In the initial stage the bank used an in-house developed AI solution, similar to the 2021.AI’s Grace Go edition, to deploy the algorithm.
→ 2021.AI established connection to the Spar Nord’s internal server in order to ensure the integrity and availability of datasets.
→ Leveraging the Grace AI platform accelerated time to market; helping the project to scale and providing a common workspace for development.
About Spar Nord
Spar Nord Bank A/S, established in 1824 under the name “Bye og Omegns Sparekasse” (The Savings Bank for Town and County), provides financial services to household customers as well as small and medium-sized companies in the private and public sector. Its portfolio includes deposits, loans, mortgage credits, services in the area of trade market, forex, and asset management, as well as other financial products and services. Based in Aalborg, Denmark, the company operates through approximately 50 branches in 31 bank regions, servicing over 400,000 customers.