Gupshup partners with Philippine-based Tonik Bank to develop a Generative AI (GenAI) chatbot for Tonik's mobile app, aiming to revolutionise customer interaction and innovate the digital banking experience.
"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 Beerud Sheth, co-founder and CEO of Gupshup.
GenAI chatbot
Gupshup's natural language processing (NLP) and machine learning (ML) technologies power the GenAI chatbot, which is designed to engage in contextual conversations and provide personalised information to customers' queries.
Tonik integrated the chatbot into its mobile app, making it the first digital bank in the Philippines to leverage GenAI for customer service.
"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 revolutionize our operations, and we are excited to further explore its capabilities and implement it across our business," said Sateesh Reddy, deputy chief technology officer of Tonik Bank.
Benefits
The technology directs nine out of ten customer queries through Tonik's in-app chat feature, where the chatbot resolves 75% of the queries autonomously, enhancing the efficiency of Tonik's customer care team by 4.3 times.
Through the GenAI solution, Tonik projects to generate significant cost savings, estimated at over USD 20 million over the next three years.
