What if we told you that the secret to exceptional customer service in banking doesn’t lie in just having more agents or faster technology—but in the perfect balance between the two?
Enter RCBC Credit, a leading financial institution in the Philippines that’s rewriting the playbook on customer service by blending AI-powered chatbots with human empathy.
In a world where the competition for customer loyalty is fierce, RCBC Credit’s approach is a game-changer. Rather than simply relying on technology to solve all problems or humans to do all the heavy lifting, they’ve found a way to make both work together seamlessly. And the results? A model for modern banking services that others in the industry can learn from.
In this post, we’ll explore how RCBC Credit’s bold move toward AI and human collaboration is setting a new standard for customer service in banking, and how you can apply these lessons to stay ahead in an increasingly competitive landscape.
Let’s dive into how RCBC Credit makes this magic happen, the lessons they’ve learned, and how others can follow their lead.
Why RCBC Needed a Change
RCBC’s credit card business was growing and they wanted to create a new channel for customer service and engagement via Facebook (since the Philippines was the second-largest Facebook market in the Southeast Asian region at the time). Erica (short for “Electronic RCBC Interactive Customer Assistant”) was, therefore, launched in July 2021.
Erica was designed to tackle the top four customer requests like balance inquiries, promo inquiries, card activation and card application. She was a smart solution - one that could handle large volumes of inquiries quickly and efficiently without raising costs.
Meet Erica: RCBC’s AI Superstar
Fast forward to today, Erica manages five use cases (with the addition of rewards redemptions in April 2023) and is expected to handle over 600,000 conversations annually by the end of 2023. That’s saving RCBC Credit an impressive 22 million pesos (i.e.approx $400k) a year in contact center costs.
Erica's real superpower? She frees up human agents. While Erica handles the routine stuff, agents focus on high-value tasks like helping customers with loan options or financial advice—areas that need empathy and problem-solving.
Suggested Read: Enhancing Credit Unions: The Imperative of Conversational Banking
The Perfect Balance: Humans and AI Working Together
RCBC knows that AI alone isn’t enough. Here’s how they’ve struck the right balance:
- Let AI Handle the Basics: Erica takes care of repetitive questions like balance inquiries, promo inquiries and card activations—24/7.
- Humans for Complex Issues: When Erica can’t solve a problem, customers get seamlessly transferred to a human agent. Soon, RCBC plans to introduce live chat for these handoffs.
- Empowering Agents: RCBC is rolling out AI-driven tools to summarize chats, so agents don’t waste time on admin work and can focus entirely on helping customers.
This teamwork between humans and AI ensures that efficiency doesn’t come at the cost of empathy.
Recommended Read: This Conversational AI Bundle Helps Credit Unions Enhance Member Experience and Grow Revenue
Making Erica a Household Name
Introducing a chatbot is one thing. Getting people to use it? That’s another story. RCBC made sure customers knew about Erica through smart strategies:
- Everywhere You Look: Erica's presence is hard to miss—she’s featured in Facebook posts, contact center scripts, and more.
- Agents Spread the Word: RCBC's agents promote Erica, telling callers how the chatbot can quickly handle tasks like rewards redemptions.
- Slow and Steady: RCBC eased customers into using Erica by starting with simple tasks. Over time, they added more features and built customer trust.
Innovator Spotlight with Frances Fausto, Head of CX at RCBC
The Results Speak for Themselves
RCBC tracks key metrics to measure Erica’s success:
- Customer Satisfaction (CSAT):
Tasks handled by Erica, like card activations, score higher in satisfaction compared to traditional methods. - Customer Effort Score (CES):
Customers find Erica’s interface smooth and easy to use. - Cost Savings:
By automating over 600,000 interactions, RCBC saves millions in operational costs. - Call Deflection:
With more customers using Erica, human agents can now focus on strategic tasks.
Suggested Read: How Generative AI is Reshaping Global Industries
What’s Next for RCBC and Erica?
RCBC is just getting started. Here’s what’s coming next:
- Live Chat Integration: Seamless transitions from Erica to live chat agents for more complex queries.
- More Use Cases: Addition of emerging top call types like fee reversal, card application status and card delivery status to deflect calls from the hotline or email.
- AI-Driven CRM Summaries: Automatically summarizing chatbot interactions for agents to access easily.
Lessons for Businesses Starting Their AI Journey
RCBC's journey is full of insights for anyone ready to dive into AI. Here’s what you can learn:
- Start Small, Think Big
Focus on automating those simple, repetitive tasks that have a big impact. It’s a smart way to dip your toes in without overwhelming your team or resources. - Help Everyone Get on Board
Educate your customers and employees on how AI can make their lives easier. When everyone’s in the loop, they’re more likely to trust and embrace the change. - AI + Humans = The Dream Team
Use AI to handle the grunt work, but leave the personal touch and complex issues to your human team. The best results come from letting both do what they do best. - Measure, Adjust, Repeat
Don’t just set it and forget it. Keep track of how things are going, get feedback, and make improvements as needed. This way, your AI evolves with your business and your customers' needs.
Blending AI and Human Expertise for Future-Ready Support
RCBC's success story highlights the power of combining AI and human skills to create a modern, efficient customer support system. By letting AI handle routine tasks and empowering agents to focus on more meaningful interactions, RCBC has built a system that is not only efficient but empathetic—prepared for the future.
For banks and businesses looking to evolve, RCBC’s approach offers a proven roadmap for success. It’s not just about adopting new technology—it’s about fostering deeper, more meaningful customer connections at scale.
So, Are You Ready?
By embracing AI-driven solutions, banks have the opportunity to transform their operations, elevate customer experiences, and secure a competitive edge in an ever-changing landscape. Leveraging tools like conversational AI, predictive analytics, and automated workflows enables the creation of more intelligent, personalized services—without requiring extensive system overhauls.
The path forward begins with decisive leadership. Bank leaders must pinpoint high-impact use cases, modernize outdated systems, and cultivate a culture of continuous innovation to unlock the full potential of AI. From streamlining customer interactions to enhancing risk management and scaling personalized offerings, the possibilities are limitless.
For those ready to fast-track their transformation, solutions like Kore.ai AI for Service provide a robust foundation. With pre-configured use cases and seamless integration, these tools allow banks to quickly capitalize on AI’s capabilities. Step into the future of banking, embrace bold innovations and lead the way in this digital era.
The AI revolution isn’t on the horizon—it’s here.
Are you prepared to seize the opportunity?
