SINGAPORE and MANILA: Gupshup, the world’s leading Conversation Cloud announced its partnership with Tonik Bank, the first digital-only neobank in the Philippines, to develop a state-of-the-art Generative AI chatbot for Tonik’s mobile app.
The innovative solution aims to provide Tonik’s customers with instant and accurate answers to frequently asked questions, revolutionising the way they interact with their bank.
The generative AI chatbot, powered by Gupshup’s advanced natural language processing (NLP) and machine learning (ML) technologies, is designed to understand and respond to customer queries with human-like precision and empathy.
By leveraging the latest advancements in AI, the chatbot can engage in contextual conversations, providing personalised and relevant information to each customer.
Tonik is the first digital bank in the Philippines to leverage Generative AI for customer service. By integrating the chatbot into their mobile app, Tonik Bank aims to provide their customers with instant access to information, reducing wait times and improving overall satisfaction.
“The integration of Gupshup’s ACE LLM into our operations has been truly transformative. We’ve witnessed significant value in its ability to automate routine tasks, elevate customer service, and boost our overall efficiency.
“This technology has the potential to revolutionise our operations, and we are excited to further explore its capabilities and implement it across our business,” said Tonik Bank Deputy Chief Technology Officer, Sateesh Reddy.
Since the implementation of Gupshup’s technology, 9 out of 10 customer queries are now directed through Tonik’s in-app chat feature, where the AI autonomously resolves 75% of the queries without human intervention.
This has not only amplified the efficiency of Tonik’s in-house customer care team by 4.3 times but also empowered them to dedicate more time to resolving intricate issues, ensuring that customers receive the personalised support they need.
The generative AI chatbot solution is expected to generate significant cost savings for Tonik, with an estimated total of over US$20 million over the next 3 years.
“Our partnership with Tonik Bank exemplifies the future of BFSI. As the sector evolves, Gen AI will be crucial to deliver seamless, personalized, and efficient customer experiences.
“Our chatbot solution is designed to do just that, empowering banks like Tonik to focus on what matters most – building strong relationships with their customers,” said Gushup Co-founder and CEO, Beerud Sheth.
