IBS Journal November 2016
11
RBS lets Luvo loose
with IBM to launch a cognitive AI-powered chatbot named Luvo. In a pilot phase and being tested by select customers, this uses IBM Watson Conversation technology, a cloud- based cognitive service. It will be available through the bank’s webchat service to around 10% of RBS users in December. Customers will be able to ask questions on complex topics like authorising the use of their cards overseas and updating home addresses. Luvo will be able to answer in a split second while also having the ability to direct the customer to a human operator to answer any complex questions.
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The pilot follows a two-month trial period conducted among 1,200 RBS staff. Luvo is designed to answer the most frequently asked questions that the bank gets, freeing up human advisors for more complex and in-depth customer queries. The bot could, in the future, be equipped
oyal Bank of Scotland (RBS) has partnered
with the IBM Watson AlchemyLanguage analysis suite – which analyses how a customer may be feeling from the way they phrase their questions and changes its
tone accordingly.
“As the cognitive system continues to learn overtime, RBS will be able to expand Luvo’s capabilities to more complex areas such as providing increased personalisation and using predictive analytics to detect possible issues before they arise to make a recommended course of action,” says Chris Withers, Europe Head of Financial Services for Watson Solutions, IBM. “Luvo is a great example of how IBM Watson can be used to augment the intelligence of employees and improve the experience of customers.”
Alex Hamilton Atom opens its digital doors
officially opened to all customers. The new entrant, which was founded by Mark Mullen, former CEO of first direct and Anthony Thomson, who created Metro Bank, had previously been in “invitation only” mode, with its iPhone and Android app available to customers who had expressed interest and been given a registration code.
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Atom’s products currently include two fixed saver accounts and SME lending through intermediaries, while business banking is being rolled out. “We are creating an entirely new way to bank; a system that is based on what the customer needs and wants, rather than being focused on bank balance sheets,” says Mullen. “We’ve been steadily growing our business to date and this is an exciting new phase where we can offer our fixed saver rates to anyone who wants them.”
Thomson adds: “Building a bank in the right way takes K mobile-only challenger bank, Atom, has
time. What we’ve achieved to date is fantastic, but the key to providing our customers with the best banking experience possible is to continue to build the bank piece by piece, listening to customers. We do not want to rush simply to say we were the first.”
Scott Thompson
www.ibsintelligence.com
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