Dover Federal Credit Union partners with interface.ai to significantly enhance member experiences & operational efficiencies by offering an Intelligent Virtual Assistant
Dover Federal Credit Union (DFCU), serving over 43,000 members, announced that it has embarked on a mission to enable the most seamless banking experience for its members, powered by interface.ai’s award-winning Intelligent Virtual Assistant (IVA).
The IVA will be initially available through DFCU’s call center, closely followed by their website and online/mobile banking services. After the launch of this solution, members that choose to call DFCU’s contact center or those who choose to interact with DFCU’s IVA on the website or the mobile app will instantly find answers to their questions through the IVA; enabling DFCU to provide full service to members 24/7/365. With this increased capability and efficiency, DFCU’s staff will also be able to provide personalized support to members in need, in turn improving the overall member experience.
“The IVA will enable us to create a seamless experience for members across all of our contact channels. It will also help to continue to create efficiencies across the organization. With the ability of the technology to continuously learn and improve, we will be able to adapt to new member needs and evolve. Working with interface.ai also allows us to retain our personal touch in every conversation through their neutral voice-enabled system that makes every voice-interaction with the IVA, human-like.” said Tyler Kuhn, VP, Marketing & Digital Experience, DFCU.
On the technology & the timing of the project, Tyler Kuhn, VP, Marketing & Digital Experience of DFCU said, “Due to the pandemic, our call volumes doubled which impacted our service levels. None of the traditional solutions such as outsourcing a contact center and hiring additional staff were scalable. We were on the lookout for a solution that was going to help us solve member support bottlenecks, improve operational efficiencies and enable us to enhance the overall member experience in a very scalable way. In our search, we discovered that interface.ai’s IVA would enable us to instantly respond to member inquiries around the clock, while maintaining high service levels - ultimately leading to enhanced member experiences and further optimizing our operational costs by creating efficiencies across the organization.”
On the partnership with interface.ai, Tyler added, “We have evaluated several vendors operating in this space. Apart from interface.ai, the solutions offered by other vendors are just enhanced versions of an IVR, and not fully Artificial Intelligence-driven systems. At Dover Federal, our IVR is already doing its job and our goal was not to enhance what we already had, our goal was to find a solution that would replace our IVR and enable us to offer more human-like personalized experiences. With interface.ai’s IVA, we will be able to offer such experiences to our members. In addition to this, interface.ai has a deep understanding of the credit union space, a robust & financial industry-specific product roadmap, world-class managed services, with a proven track record of delivering value. Ultimately, that made the decision to partner with them easy.”
Srinivas Njay, Founder and CEO of interface.ai, adds, “The pandemic has made member behavior on call centers permanent. There is a sustained increase in call center traffic, in the order of 30 – 40% on average, across financial institutions. This increased traffic has resulted in increased wait times & abandonment rates leading to poor member experience. We believe implementing Intelligent Virtual Assistants is the only way for most financial institutions to offer timely support, provide personalized service to members at scale and manage operations efficiently. We are excited to partner with Dover Federal CU and enable them to improve their service levels, engage better with their members, and enhance efficiencies.”
About Dover Federal Credit Union :
Dover Federal Credit Union (DFCU) has been voted the first state favorite credit union for the last 6 years in a row. With eight branches, over 43,000 members, and $603.6M in assets, DFCU is a member-owned financial cooperative that exists to help its members get there, wherever that may be. For more information, please visit www.doverfcu.com.
interface.ai provides an out-of-the-box Intelligent Virtual Assistant that acts as a “personal banking teller” to help members 24x7 through every step of their journey from being a prospect to achieving financial wellness. interface.ai’s Intelligent Virtual Assistants currently power several Banks and Credit Unions across the world. For more information, please visit www.interface.ai.