How Bitwala is disrupting the banking industry while keeping its inbox empty
Company Size
11-200
Region
- Europe
Country
- Germany
Product
- Solvemate chatbot
Tech Stack
- Zendesk
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Application Infrastructure & Middleware - API Integration & Management
Applicable Industries
- Finance & Insurance
Use Cases
- Chatbots
Services
- Software Design & Engineering Services
About The Customer
Bitwala is a financial technology (FinTech) start-up that bridges the gap between banking and blockchain. The company helps people buy, sell, invest and hold cryptocurrencies and manage their everyday banking. Bitwala's customers are tech-savvy individuals with high expectations for instant service. The company is based in Berlin and was founded in 2015. It has a team of 70 employees. Bitwala is known for its innovative approach to banking, which involves adhering to the strict regulations of the financial sector while also meeting the high service expectations of its customers.
The Challenge
Bitwala, a FinTech start-up, was facing a challenge in managing its customer service operations. The company's customer base, being tech-savvy, had high expectations for instant service. However, Bitwala also had to adhere to the strict regulations of the financial sector. The company was experiencing rapid growth, which led to a huge backlog of customer requests. The existing help centre was underused and not intuitive enough for the customers. Bitwala also wanted to improve its customer onboarding experience and manage expectations around its referral process. The company was looking for a solution that could help them scale their customer service operations while keeping a lean team during a fast growth phase.
The Solution
Bitwala decided to use Solvemate to automate their customer service operations. Solvemate provided an intuitive support solution in the form of a chatbot, which offers the same content as their underused help centre, but in a more intuitive way that customers can access at any time. The chatbot, named Lola, handles around 1,000 conversations per month, taking a huge strain off their service team. Lola assists and guides new customers through the account and verification process for a smooth onboarding experience. The chatbot also improved Bitwala’s referral process by providing customers with step-by-step guidance. Lola is integrated into their CRM system Zendesk, so it can hand over all required information to Bitwala’s agents when needed.
Operational Impact
Quantitative Benefit
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