Embracing AI in Customer ServiceMeet Nova, Nordea’s Virtual Assistant

Anna Metsäranta

31st October 2018

Brief introduction

Nordea is a universal bank with a Nordic focus

700,000Corporate customers

10 millionPersonal customers

35 billionMarket capitalisation

Top 10 European bank

G-SIB

Personal Banking

Business Banking

Wholesale Banking

Wealth Management

450 Branches

30,000Employees

Why automate?

Smart automation is a tool for solving problems

By 2018,

Virtual

Employee

Assistants will

increase

productivity

by 10%2

By 2020,

conversational

agents will

handle 30% of

customer

service2

55% prefer a

bot if the same

result is

achieved1

Changing customer needs Business incentives Strategic digital trends

52% don’t

want to wait

more than two

minutes1

By 2022,

chatbots will

create annual

cost savings

of $8 billion3

By 2020,

40% of

consumers will

prefer voice

assistants4

1 2 3

1. Liveperson 2017

2. Gartner insight: how to collaborate and compete in the emerging VPA, VCA, VEA and Chatbot ecosystems

3. Juniper Research: Chatbots

4. CapGemini: Why Consumers Are Embracing Voice Assistants in Their Lives

What’s the biggest challenge?

AI publicity propagates hype and fear…

How to tackle it?

Educate,

demonstrate,

and involve

Say hello to

Nova

10MPhone calls

2MChats

1,5MMails

Omnichannel service & advice

Nova works in

collaboration

with Advisors

Future service model

Nova will

become a smart

gatekeeper

Specialist team

Specialist team

RPA

Development roadmap

Nova will offer personalised service & advice

CHATBOT

VIRTUAL ASSISTANT

VIRTUAL AGENT

Get the

basics right

Differentiate

through service

Explore and

innovate• Complex automation

• Predictive assistance

• Omnichannel with text & voice

• Personal service

• Proactive assistance

• End-to-end automation

• Conversational AI

• Reactive service

• Seamless escalation

Elements of success

There’s a lot more than AI to a successful solution

Virtual Assistant

AI solutions

Content Architecture

Delivery

Continuous improvement

Empower your employees to make the most of the VA

Implement

ObserveAnalyse

EnhanceDedicated role

Common guidelines

Tools & processes

Collaboration

Thank you!

Anna Metsäranta

anna.metsaranta@nordea.com