Fintiba’s AI Agent Solution  

Fintiba is defining new benchmarks in conversational AI implementations, thanks to FintiBot, powered by Certainly. Some data from Fintiba:   

• 97% of all conversations are fully automated with Certainly
• 125% increase in customer satisfaction (CSAT)
• 85% reduction in conversations escalated to agents achieved with the latest Generative AI technology
• Over 10,000 monthly conversations served

About Fintiba   

Fintiba GmbH, the leading financial and insurance platform for international students and employees moving to Germany, aimed to enhance customer service efficiency and experience by implementing an advanced conversational AI solution. 

Key challenges for Fintiba included a high volume of annual human-handled inquiries, and the goal to improve customer service operations without increasing staff count. The solution had to factor in the handling of sensitive financial information and serving a diverse, international customer base.

Initially, Fintiba was skeptical about the chatbot’s capabilities, as chatbots were not widely trusted. However, the introduction and iterations of FintiBot have changed the mindset within the organization, with employees now recognizing the value and potential of the chatbot solution.

We spoke to Vikas Bhadoria, Senior Project Manager at Fintiba GmbH, about setting up FintiBot, the benefits they’ve already begun to see from implementing a hybrid Generative AI solution, and their plans for the future.  

Introducing FintiBot, a benchmark-defining AI Agent based on hybrid Generative AI

Fintiba initially launched a chatbot based on decision trees, which helped Fintiba automate around 84% of customer inquiries throughout 2022 and 2023. While this already provided a huge boost to operations, the remaining 16% still meant about 25,000 human-handled inquiries per year. Therefore, Fintiba increased the focus on their conversational AI implementation and worked with Certainly to deploy the latest technology to unlock business value.

The latest solution introduced a new set of features: Generative AI integration to drive more natural conversations, improved multi-language support to serve diverse audiences, integration actions to augment self-service capabilities, and lead-generation capabilities. These areas were jointly selected by Fintiba and Certainly based on the most common customer inquiries and their automation potential.

The integration actions, powered by Certainly’s Webhook Builder, proved to be particularly impactful, allowing customers to execute changes to their accounts, such as adjusting their monthly payment amounts, without having to contact the customer care team. This helped to reduce around 8,000 support tickets per year.

Deploying Generative AI required several months of work that included reviews of historical data, architecture design, and checks to ensure a high level of compliance. Fintiba went through six different rounds of testing and feedback loops, where they identified and addressed negative responses from the bot. This iterative process, which took 2-3 months, was crucial in ensuring the chatbot could provide high-quality answers before being deployed live.

Immediate Benefits of the Generative AI Agent  

Compared to previous technology, FintiBot achieved an average of an 85% reduction in conversations escalated to human agents, down from 16% to about 4%. This saves Fintiba thousands of support requests without compromising the quality of customer service. In fact, with the latest version of FintiBot, Fintiba has experienced a 125% increase in user satisfaction. The AI Agent is now equipped to handle a wider range of inquiries, it does so using natural language and executes actions behind-the-scenes to automate resolutions fully.

The Future of FintiBot: Conversational Insights and Channel Expansion

When we spoke to Vikas, he already had plenty of plans for the next version of the FintiBot AI Agent. Fintiba views the chatbot as a new employee that needs to be trained and developed over time. Just like a human employee, the chatbot will make mistakes initially, but through continuous feedback and learning, it can improve and become more proficient at handling customer inquiries. Vikas’ two highest priority implementations were continuous fine-tuning and optimization of the solution, to ensure additional processes are automated, and expanding to channels beyond the website.  

The Certainly-powered FintiBot has been an incredible success for Fintiba. It allows the company to deliver tailored customer service at scale, whilst being brand and security-compliant. So, when we asked Vikas if he would recommend an AI assistant, he said, “whenever possible, especially in B2C, automation is going to help you immensely.” Fintiba believes that in the coming years, chatbots will become a standard feature for many companies in any industry. However, not all automation platforms are the same.

Choosing the Right Conversational AI Partner

According to Vikas, a key ingredient for successfully deploying conversations AI is the importance of personal relationships with their trusted partner.

According to Vikas, “the most important factor is the personal relationship that I have been able to maintain with the people in Certainly. The customer service is very quick, and whenever I go into the platform I have a very good experience, with reporting and admin work”.

Click here and see for yourself why Vikas is so happy to recommend Certainly!