The UK's Barclays Bank is implementing artificial intelligence (AI) technology from Cambridge-based Transversal to provide its Web banking customers with automatic answers to online queries.
Transversal says the bank is using its Metafaq e-customer service software, to provide customers with immediate and accurate answers to questions online and to reduce the 10,000 monthly calls to its helpdesk.
Powered by the vendor's memory engine software, Metafaq uses artificial intelligence to determine the question a customer has asked. The system then returns appropriate responses from a knowledgebase of previously asked questions. Queries that cannot be answered are forwarded to support staff and responses are simultaneously added to the knowledgebase for future reference.
Ian Morgan, head of channel development for Barclays electronic banking, says: "We know how frustrating it is for customers to have to go to other channels, when they should be able to get answers to straightforward questions online."
Morgan says the bank initially trialled the Transversal product last December and customers adopted it instantly.
Transversal says the technology can also be used to tailor financial products and improve Web content.