Scripbox Deploys AI-powered Chatbot to Handle 70% of Support Queries with FRT less than 10 Seconds
Customer Company Size
Mid-size Company
Region
- Asia
Country
- India
Product
- Verloop.io
- AI-powered FAQ builder
Tech Stack
- Conversational AI
- AI-powered Chatbot
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Functional Applications - Remote Monitoring & Control Systems
- Analytics & Modeling - Machine Learning
Use Cases
- Chatbots
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Founded in 2012, Scripbox is India’s leading digital wealth manager. It understands customer needs in the context of their life and wealth stages, providing customized investment solutions to help them meet financial goals. Scripbox uses data, technology, and proprietary algorithms to deliver a full-stack of wealth management solutions, including mutual funds, Indian and International equities, insurance, holistic portfolio construction, and financial advisory. The company is headquartered in Bengaluru, India, and operates in the banking and financial services industry. Scripbox aims to provide seamless and efficient customer service, addressing the growing number of support queries related to investments and withdrawals.
The Challenge
There are more than 10,000 support tickets that come to Scripbox on a monthly basis. Most queries are about investments and withdrawals, with customers wanting to know about new investment products, the status of their investments, and the purpose of investment. The number of chats has been growing month-on-month for the last 2 years. Customers expect immediate, accurate responses with no wait time, putting immense pressure on agents. More than 50% of queries are received via chat, 35% over calls, and 15% via email. Scripbox needed to strengthen their chat platform to handle queries efficiently and on time. Previous tools failed to handle the complexity of the query flow, leading to a decision to use Verloop.io.
The Solution
Scripbox chose Verloop.io, a platform using conversational AI to solve customer support issues. Verloop.io's product understands each query uniquely, making conversations contextual, relevant, and meaningful. Scripbox aimed to automate responses for frequently asked queries, which were standard but took up agents’ bandwidth due to volume. Verloop.io’s FAQ builder made it simple to add responses to standard queries and keywords. The AI is pre-trained to understand various intents, including sentences with emojis, and is further trained on specific use cases Scripbox encounters regularly. The AI-powered FAQ builder understands the intent behind queries and sends automated responses, eliminating wait times and errors. Verloop.io enabled Scripbox to design multiple bot flows, reducing response times and handling nearly 70% of queries with the bot, enhancing customer satisfaction.
Operational Impact
Quantitative Benefit
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