AmBank pioneers voice AI automation in Malaysia with AI Rudder

• Revolutionize how banks interact with clients, ensuring consistent, high-quality interactions
• Break language barriers via advanced language capabilities, inclusive banking environment

In an unprecedented move towards the future of banking, AmBank has become the first large Malaysian financial institution to integrate Voice AI automation into their operational ecosystem, in collaboration with AI Rudder. This strategic initiative underscores AmBank's commitment to leveraging emerging AI technologies to enhance customer experience and operational efficiency of their digitally advancing workforce.

In a recent interview, AmBank's Managing Director of Retail Banking, Aaron Loo (pic), shared insights on the bank's approach to AI in conversational banking. "We're committed to leveraging emerging capabilities in AI to enhance our customer's experience. Our approach to Voice AI goes beyond basic interaction; it's a strategic investment in building a conversational banking model," Loo stated. He emphasized the importance of a customer-centric approach, highlighting how Voice AI can seamlessly integrate with existing channels to offer a natural and efficient experience, while still valuing the irreplaceable role of human expertise.

Loo elaborated on the transformative potential of Voice AI, noting that it empowers representatives by automating routine tasks. This allows staff to focus on more complex issues and personalized interactions, ensuring a well-rounded customer experience. AmBank is also exploring innovative applications for Voice AI beyond pre-qualifying leads, such as collections reminders, secure activation code delivery, and sales lead validation.

When asked about the anticipated benefits of Voice AI in streamlining workflows and boosting productivity, Loo responded, "Voice AI promises a future of streamlined workflows and increased productivity. Repetitive tasks like account inquiries can be automated, freeing staff for more complex issues and value-added services. Tasks such as pre-qualified leads and filtered inquiries during customer interactions also translate to faster resolution times and improved customer satisfaction. With all interactions diverted to Voice AI, valuable data can be generated and analyzed to gain deeper insights into customer needs and pain points. This translates to a more efficient workforce, happier customers, and a data-driven approach to excellence."

Loo also addressed the ethical and compliant use of AI at the bank. "Compliance is always a top priority for us. We adhere to all relevant data privacy regulations and employ security measures to protect customer data used by the VoiceBot. We also actively monitor Voice AI interactions for feedback on performance. This feedback loop allows us to identify areas for improvement and refine our interactions to better serve our customers," he explained.

Discussing the process of finding the right Voice AI partner, Loo shared, "The implementation of Voice AI technology required careful consideration. We conducted extensive research on the technology itself for two years and evaluated numerous potential vendors. We were clear on finding a partner that could meet our specific needs and deliver a solution that aligns with our values."

Reflecting on the collaboration with AI Rudder, Loo remarked, "Our collaboration with AI Rudder has been very positive thus far. Their team's expertise has been instrumental in setting up the system, integrating it with our existing infrastructure, and ensuring a smooth rollout."

When asked about future applications of Voice AI in banking, Loo responded, "The future of Voice AI in banking holds promise, and we are always on the lookout for new applications to optimize our business opportunities. It'd definitely be exciting to see Voice AI evolving into a personalized financial concierge, available 24/7, where customers can access account information, schedule appointments, or even dispute transactions through secure voice commands. This would enable customers to engage with us through various mediums."

Loo also shared his vision for how this innovative technology can revolutionize customer experience within AmBank's services. "Voice AI is capable of breaking down language barriers via advanced language capabilities, creating a truly inclusive banking environment. It could also potentially enable us to build deeper relationships with our customers. By enabling natural and conversational interactions paired with human interactions, we create a much more efficient process. Our application of Voice AI in telesales calls exemplifies this perfectly. By pre-qualifying leads, the Voice AI eliminates irrelevant sales calls, boosting efficiency and freeing our sales representatives for deeper customer interactions. We believe this innovative technology will redefine how customers interact with us as a bank, potentially leading to a more personalized, convenient, and secure banking experience for all."

When asked if AmBank encourages employees to embrace AI innovations, Loo responded, "At AmBank, we embrace innovation with a forward-thinking approach. Voice AI technology represents an exciting step in our journey. We believe AI can be a powerful tool to enhance our customer experience and empower our workforce. With that, we are committed to ongoing training and open communication to ensure our employees feel comfortable and confident collaborating with this Voice AI technology."

AmBank's pioneering step into Voice AI automation marks a significant milestone in the Malaysian banking industry, setting a new standard for customer interaction and operational efficiency.