Haptik > Case Studies > AI-Driven Customer Engagement: Tata Mutual Fund's Success Story

AI-Driven Customer Engagement: Tata Mutual Fund's Success Story

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Technology Category
  • Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
  • Retail
Applicable Functions
  • Sales & Marketing
Use Cases
  • Chatbots
About The Customer
Tata Mutual Fund is a part of the Tata group, one of the most trusted conglomerates in India. The company offers a range of investment solutions for financial planning and wealth creation. With a strong focus on customer service, Tata Mutual Fund was looking for innovative ways to better serve its digital-first millennial customers who demand support on-the-go. The company wanted to leverage technology to improve customer experience, reduce the volume of customer calls, and engage customers on their preferred digital channels.
The Challenge
Tata Mutual Fund, a part of the renowned Tata group, was facing a challenge in improving customer experience, particularly for the digital-first millennials. The company aimed to reduce monthly customer calls by 70% and engage customers on their preferred channels, such as Messaging & WhatsApp. They needed an AI-driven solution that could seamlessly integrate with their existing customer support infrastructure. The primary objective was to provide faster query resolution and minimize human intervention. The solution was expected to offer an easy way for customers to get their queries resolved and be integrated into existing customer service channels.
The Solution
In response to the challenge, Tata Mutual Fund partnered with Haptik to implement a digital-first approach to their customer support. Haptik introduced an AI-powered chatbot that could handle routine queries end-to-end, allowing human agents to focus on high-value issues. The chatbot was designed to integrate with backend systems for effective information dissemination, immediate follow-up, and closure. The solution also included intelligent prompts and content flows to improve user engagement. The chatbot was designed to provide automated answers to simple queries, while still allowing human agents to intervene when necessary, ensuring a balance between automation and human touch.
Operational Impact
  • The implementation of the AI-powered chatbot by Haptik resulted in significant operational improvements for Tata Mutual Fund. The chatbot not only helped in reducing the volume of customer calls but also improved the speed and efficiency of query resolution. This allowed the customer support team to focus on high-value issues, thereby improving the overall quality of customer service. The chatbot also enabled the company to engage customers on their preferred digital channels, enhancing customer satisfaction. The solution was seamlessly integrated with the existing customer support infrastructure, ensuring a smooth transition and minimal disruption to operations. The success of this initiative underscores the potential of AI in transforming customer engagement in the financial services sector.
Quantitative Benefit
  • 70% reduction in monthly customer calls
  • 90% end-to-end query resolution
  • 67% reduction in call center queries

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