FPT Smart Cloud and Home Credit harness AI Innovation Lab

July 21, 2023 | 08:35
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Through the transformative power of the AI Innovation Lab, FPT Smart Cloud and Home Credit Vietnam have dramatically reshaped the financial sector's customer service landscape, achieving remarkable strides in operational efficiency, customer satisfaction, and employee workload reduction by harnessing the potential of AI and cloud applications.

FPT Smart Cloud, a trailblazer in AI solutions, has been a catalyst in the transformation of Vietnam's cloud services segment, particularly in the financial and banking sector over the past three years. With a focus on optimising business efficiency and enhancing user experiences, FPT Smart Cloud's mission is to deliver AI and cloud applications to corporate clients.

FPT.AI leads the AI transformation of Vietnam's financial sector

Through its flagship subsidiary, FPT.AI, the company has made significant strides in the Vietnamese market, providing innovative solutions like virtual eKYC, Chatbot, and Voicebot to major financial institutions. To maintain its market dominance, FPT.AI has adopted a localised strategy, setting itself apart within the domestic business landscape.

To further accelerate its adaptive goals and deliver value to customers, FPT.AI has pioneered the AI Innovation Lab. This platform enables businesses to articulate their challenges, allowing the FPT Smart Cloud team to provide tailored and effective AI and cloud solutions.

FPT Smart Cloud and Home Credit harness AI Innovation Lab

Home Credit and FPT.AI: A strategic alliance for AI innovation

Home Credit Vietnam, a prominent player in the consumer financial services market, is committed to improving customers' lives through innovative products, responsible lending, and technology-driven solutions.

Since 2019, Home Credit has partnered with FPT.AI to implement AI call centres, encompassing various support bots for receiving calls, making outbound calls, chatting, and providing online assistance.

In early 2023, the strategic alliance between Home Credit and FPT.AI expanded to include the AI Innovation Lab cooperation model. This phase focuses on researching and developing new features and solutions on the AI platform to enhance operational efficiency and deliver a seamless customer experience across different applications.

The primary development objective for the bot application that was implemented at Home Credit Vietnam in 2023 is to improve the interactions between it and its human users. During AI progress, both HCVN and FPT are always focusing on customer satisfaction and involved close collaboration of the team for challenging what chatbot and voice bot could truly be. The AI technology includes natural language processing, interface interaction, personality, emotions, and learning abilities through knowledge base utilisation.

After six months of dedicated collaboration between Home Credit Vietnam and FPT Smart Cloud for the AI Lab, significant results have been achieved.

These include building client trust through implement different authentic sound voices with Vietnamese accents from different region, from North to South for both Outbound and Inbound voice Bots; train Bot to reply answer multiple intentions of clients, not just one question linear communication and sound naturally and at the same time effectively managing requests; applying SmartVAD 2.0 to upgrade AI for understanding customers in both natural and noisy environment; and redesign NLP and AI model to quick recognition of customer profile based on either name and ID number.

FPT Smart Cloud and Home Credit harness AI Innovation Lab

AI Innovation Lab ushers in a new era for Home Credit

Home Credit has undergone a significant transformation in customer service with the introduction of nearly 100 multichannel virtual employees, comprising 50 call centre assistants and 48 chat assistants.

Customers can conveniently access support anywhere, anytime through omnichannel such as hotlines and various chat channels, ensuring superior customer care. The results of this initiative have been remarkable.

The call centre assistants now handle approximate 2,000,000 yearly inquiries from Home Credit million clients with connection rate of up to 90 per cent. The proportion of calls supported by the call centre has increased by 15 per cent since January, reaching 46 per cent in July. Similarly, the chat channel accommodates 45 per cent of chat interactions.

These assistants boast an impressive 95 per cent accuracy rate in information recognition. Missed call rates have reduced from 13 per cent to less than 2 per cent, and the sales volume has doubled from $1.38 million to $2.58 million, contributing 20 per cent to the Telesales channel and 6 per cent to Home Credit Vietnam's overall sales.

In addition to this, the implementation of the AI Innovation Lab has resulted in a 20 per cent reduction in know-your-customer failures related to security questions about the client's ID and name.

By employing SmartVAD 2.0 for noise detection, the bot's interaction rate has significantly improved, with the slow interaction rate decreasing from 8.99 per cent to 1.13 per cent and the interruption rate decreasing from 5.15 per cent to 2.48 per cent.

Moreover, call centre assistants extend support to customers in need, offering not only help, but also facilitating access to loans.

Home Credit clients has given positive feedbacks related to BOT through survey as measured by the Customer Satisfaction Index (CSI) and performance of BOT is equivalent with call center operators with CSI 94 per cent.

All above achievements prove Home Credit Vietnam and FPT Smart Cloud is creating a Bot which performs likely as human and be managed by masters of customer service and call center.

In addition, the AI Innovation Lab boosts employee satisfaction by alleviating the workload of customer service teams and reducing stress levels.

Together with FPT Smart Cloud, Home Credit is developing a quality control platform that is expected to streamline manual tasks. As part of the AI Innovation Lab roadmap, experts are expanding the knowledge of and automating processes for virtual employees, encompassing 18 additional operational tasks at Home Credit.

This advancement includes endowing the bot with an increased ability to think through its digital knowledge system and a wider range of voices, rendering it more human-like.

The future of AI in customer service endeavours to transcend client expectations, delivering exceptional service and anticipating their needs. The team consistently refines the system's communication skills, drawing inspiration from the interactions of top-performing live operators.

With its pioneering work, the AI Innovation Lab redefines the very limits of customer service in the AI era. It surpasses the mere enhancements made by existing operators, revolutionising the landscape, and propelling customer support to unprecedented heights. The lab's groundbreaking advancements unlock a new realm of possibilities, revolutionising the way businesses engage with their clientele.

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By Le Luu

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional