The AI revolution is reshaping our world at an unprecedented pace, with no signs of slowing down. In an increasingly competitive landscape, businesses who fail to integrate AI into their operations will struggle to survive.
Since launching the first ChannelLess® Responsible AI platform purpose-built for financial institutions in May of this year, Glia has seen significant momentum for our Cortex platform, with over 150 financial institutions taking advantage of new customer service AI functionalities. Institutions have been using Glia Cortex to create AI call centers, with genuine results that are driving major efficiencies.
“I’m energized by the transformative impact that Cortex AI is having on our customers,” says Justin DiPietro, Chief Strategy Officer at Glia. “We’re witnessing a revolution in efficiency, with contact center teams reclaiming hundreds of valuable hours each month—and this is just the beginning. At Glia, we’re committed to pushing the boundaries of innovation, continuously developing cutting-edge ways for financial institutions to harness the power of AI while maintaining the highest standards of safety and responsibility.”
Glia’s been hard at work keeping the momentum going, with new features premiering at Interact 2024 (our in-person industry event). Come check out what makes Glia Cortex one of the most trusted AI platforms in finance, and what’s new in 2024.
AI for Customer Service: Easy Self-Service for Improved Efficiency
The Glia Virtual Assistant (GVA), Glia’s turnkey AI-powered chatbot, enables financial institutions to deliver 24/7 automated conversational support in digital and phone channels without sacrificing quality or risking a poor experience for customers.
In addition to using Glia’s chat-based digital AI assistant, customers are leveraging Glia’s phone-based AI assistant to replace their traditional IVR solutions and reduce the volume of calls sent to human agents.
The GVA, is the most widely adopted AI assistant in the industry, with over 150 financial institutions seeing stellar results:
- After implementing Glia’s phone AI assistant, Service 1st Federal Credit Union saw a 73% reduction in average wait time, and their abandonment rate decreased by 88%. In addition to those improvements for their members, their agents handled 32% fewer calls, allowing them to focus on callers with more complex issues and be less overloaded with repetitive calls about the same topics.
- Silver State Schools Credit Union replaced their outdated IVR with a Phone GVA from Glia to provide their members with a better self-service experience. Taking over 19,000 calls per month, SSSCU saw average wait times down 59% and up to $41,600 in monthly savings.
- Robins FCU contains 75% of digital interactions with their digital GVA, saving $32,000 per month. After implementing Glia, their average agent tenure has tripled, from 6 months to 18 months.
Customer AI: What’s New
At Interact 2024, our customer-facing AI got upgraded with a new feature: Cortex Intercept automatically predicts what a customer needs based on prior interactions. It’s like having an AI receptionist that remembers all the other times you’ve come in, and is able to predict what it is you’re coming in for now. Starting off with such a personalized greeting makes it much more likely they will try interacting with the AI Assistant instead of immediately asking for a human.
AI for Call Center Agents: Give Your Service Agents AI Superpowers
The demands on contact centers are increasing, and one impact of this is high agent turnover rates. Customer support representatives are dealing with increasing volumes with a growing pressure to do more with less, leading to employee burnout and frustrated reps.
In May, Glia introduced a suite of new AI tools for customer service reps. Glia Cortex’s AI and generative AI tools for agents are easy to implement, automate, and streamline existing workflows, improving productivity by 20% or more.
As an early adopter of Agent AI, Glia’s suite of tools to drive efficiency in agent workflows, Granite Credit Union has seen gains with efficiency of reviewing calls for sentiment analysis, as well as benefits to more easily onboarding.
“Once it became available, we didn’t hesitate to begin using Glia’s AI tools for agents. Leveraging Agent AI in Glia has been a huge time-saver for reviewing calls and providing additional insights, while also enabling us to train and onboard new agents faster,” says Cindy Clark, VP IT & Facilities, Granite Credit Union.
Another early adopter of Cortex Agent AI, Service 1st Federal Credit Union reduced after call work by 37%, streamlined quality reviews and generated richer insights into why members are calling.
Glia customers are finding that Cortex AI empowers their contact center agents to provide even better service to their customers.
“With Cortex LiveTranscribe, our phone service agents get a transcription of the conversation in real time, so no more asking members to repeat themselves,” says Adam Goetzke, Director of Member Experience at Heritage Federal Credit Union. “We’re also saving time with call reviews, since we can review a transcript instead of listening to a call recording.”
A few of the current Agent AI features that Granite CU, Service 1st, Heritage, and other customers are enjoying include:
- Cortex Autocomplete, which uses generative AI and learns from past conversations to generate responses to user input on the fly, saving valuable agent time and effort. This feature reduces AHT by an average of 10% every month, generating more than 2 million accepted predictions every month.
- Cortex Interaction Wrap-up automatically completes post-interaction wrap-up surveys, saving employees the lengthy effort of filling out the surveys by hand. Service 1st Federal Credit Union’s is saving 33 hours/month of their support team’s time with Interaction Wrap-up.
- Cortex Transfer Summary generates an automated summary of a conversation when a caller is transferred from one agent to another, or from an AI chatbot to an agent. This allows an easy transfer without needing to spend excess time catching the new agent up to speed on what the conversation is about.
- Cortex LiveTranscribe provides a real time speech-to-text transcription of a phone interaction, enabling call center reps to easily remind themselves what a customer has already said and saves time versus listening to a recording when reviewing interactions later.
- Agent Assist GVA acts like a GVA just for service reps, providing guidance and suggested responses to user inquiries in real time. The virtual assistant coaches and helps agents seamlessly, ensuring consistent quality interactions.
Agent AI: What’s New
Glia has continued to innovate and create new ways to leverage AI to empower agents and streamline their workflows: Cortex Heads-Up for Agents automatically reviews and analyzes a customer’s previous interactions and provides a summary to agents. This makes sure that when an agent does pick up the interaction, they’ll have all the context they need to not just understand their current need, but all the other needs they’ve ever had.
AI for Call Center Managers: Unlocking Powerful Data-Driven Insights
Glia’s AI-powered tools for managers are designed to help uncover insights into call center software performance, allowing for leadership to make informed decisions and target key areas of improvement. Glia has released a number of new AI tools to designed to provide these data-driven insights:
- Ask Cortex, which allows managers to review a single interaction between their employees and customers by simply asking a plain language question and getting an AI-generated result. This allows for much faster summarization of existing interactions, allowing for more insightful representative training and reduced handle times.
- Cortex Interaction Wrap-up, which in addition to saving agents time completing post-interaction wrap-up surveys, is being used by managers to generate new insights on their interactions. Heritage FCU for example, is using Interaction Wrap-up for automated topic detection, as well as generating quality insights and the rate of issue resolution.
Manager AI: What’s New
Glia introduced a suite of new features for Managers at Interact 2024, aimed at streamlining AI Assistant setup workflows and providing powerful new insight and performance management tools.
- Quality AnalystGPT which enables the ability to ask any question across all your interactions to identify quality issues, trends, and areas of improvement.
- Insights AnalystGPT enables better decision making by giving Glia managers the ability to automatically generate insights and visualizations just by asking in plain language, and pin them to create custom dashboards.
- GVA Content Assist, which uses generative AI functionality to automatically write the first drafts of GVA responses. This reduces the time needed to personalize a GVA for your FI by up to 50%. GVA Managers can iterate on AI-generated content, adjusting tone or length, while maintaining control by approving every response before publication.
Conclusion
The AI wave is constantly moving and growing, as technology continues to advance and pick up more and more financial institutions in its wake. Financial institutions will want to partner up with a knowledgeable, responsible, and proven AI vendor to ensure future AI customer service success. Book a demo and see for yourself how Glia is evolving financial services AI.
