RBS gets financial industry’s first “hybrid bots”

royal bank of scotland is getting financial world's first hybrid bots courtesy of liveperson

New York company LivePerson has rolled out the first financial industry “hybrid bots” in the world, at the Royal Bank of Scotland, where humans and bots team up in one conversation to offer fast and accurate service.

Unlike typical bots to date, which work in isolation from other channels, the RBS approach gives users a single, convenient place to get help, RBS Assist. Combining AI (artificial intelligence)-powered FAQs and bot conversations, RBS Assist is also able to quickly transfer a bot conversation to a human customer service representative if it cannot understand what a consumer wants. This addresses the frustration of chats where the bot cannot help a consumer, who then has to call in to a support line, or go elsewhere for help.

LivePerson’s hybrid bot technology works by handing off conversations, back and forth, between human agents and bots This allows the RBS bots to handle routine, administrative tasks, while the bank’s human agents take on the more complex, meaningful interactions and ensure that customers are being understood correctly.

The RBS bot works out what the customer is asking and guides them through simple processes, handing off to a human where it is having trouble.

Founder and CEO of LivePerson, Robert LoCascio, says, “Good customer service should strike the right balance between automation and human interaction. For now, bots aren’t ready to be the primary “agent” but they’re very effective at routine, simple tasks. We believe a combination of humans and bots, with seamless handoffs, is needed for great customer service and it is exciting to work with RBS and see these hybrid bots out in the world.”

The head of digital service at RBS, Katie Ayaz, says, “We’re pleased to be a leader in deploying AI and messaging technologies to serve our customers consistently and with high quality. Intelligent customer engagement using LivePerson technology has already helped us to reduce operational costs and drive higher net promoter scores. As we strive to become the UK’s no.1 bank for customer service, the introduction of hybrid bot customer service to RBS Assist is an exciting next step.”