IBM’s AI to propel Regions Bank’s customer service

By 8

US-based Regions Bank has selected IBM’s AI technology in a bid to improve its customer service and assist bankers. Regions Bank will be utilizing IBM Watson to assist both customers and employees. The bank’s Banker Assist will leverage Watson Assistant to offer guidance for bankers and helps resolve customer service needs.

“At Regions we are investing in technology to make banking easier for our customers and to recruit and retain talented associates,” said Chris Brasher, head of Bank Operations for Regions Bank. “IBM Watson’s automated intelligence is an important tool that allows us to operate more effectively by understanding customer needs. We are identifying additional use cases for this technology as part of our focus on continuous improvement across the company.”

According to the supplier, customers interact directly with the Watson Assistant while calling Regions, and receive assistance on a variety of issues ranging from personal information update to navigating the bank’s website. The Watson Assistant is expected to be further trained, in order to take on complex tasks such as analysing customers’ tone to determine when a customer should be transferred to a live agent.

“The use of artificial intelligence among banks continues to rise, helping financial institutions make better use of vast amounts of data, analyze patterns, evaluate risks and improve customer service,” said Beth Smith, General Manager, IBM Watson AI. “Regions Bank is focused on improving customer and associate relationships and Watson will help them continue to provide a great customer experience.

Established in 1971, Regions Bank is a provider of consumer and commercial banking, wealth management, and mortgage products and services.