Mid market wealth and retirement services firm Reducing contact center costs with a customer virtual assistant
Iviju helped a mid market wealth and retirement services firm reduce routine contact center volume with a customer facing virtual assistant that answered common questions, supported account specific requests, and routed more involved issues to live agents.
$670,000
reduction in operating costs
166,000
fewer calls
5%
improvement in customer experience index score
- Company Mid market wealth and retirement services firm
- Industry Financial services
- Location United States
- Engagement Conversational virtual assistant
What needed to change
A mid market wealth and retirement services firm in the United States needed to reduce contact center costs, but its agents were still spending much of the day answering the same categories of questions. Customers were calling about loan eligibility, plan balances, withdrawals, transfers, and similar requests that were important but usually straightforward.
The volume itself had become part of the problem. Hundreds of repeat calls each day were draining agent time and wearing down staff who were stuck handling the same low complexity issues over and over.
At the same time, customers increasingly expected to get answers online instead of picking up the phone. The firm needed a better way to handle routine questions quickly without making it harder to reach a person when the issue was more involved.
How Iviju delivered
Iviju started with contact center data, reviewing high volume inquiry streams to see what customers were asking and how they were phrasing those requests. That work helped sort common questions into repeatable intent groups and map the conversation paths needed to answer them clearly.
We then reviewed language platforms against the client security and operating requirements. One non negotiable requirement was that the text recognition layer had to run on the company's own servers so privileged customer data stayed inside the firewall.
From there, we built a development path around keyword and pattern recognition so the assistant could identify what the customer was trying to do, match that intent to the best answer, and keep improving over time as usage data and feedback came back in.
The resulting virtual assistant supported both general information requests and account specific questions. When the issue needed a person, it could hand the conversation to a live agent through text chat or place the customer in a callback queue, depending on the path they chose.
Implementation specifics
- Reviewed streams of high volume inquiries and grouped them into repeatable intent categories
- Mapped conversation flows for the most frequently asked questions
- Compared language platforms against security, hosting, and operational requirements
- Kept text recognition and customer data processing inside the client firewall
- Cross matched customer intent to the best available answer
- Automated responses for more than 400 common inquiries
- Connected the assistant to live chat handoff and callback queue routing
- Used analytics and customer feedback to expand answer coverage over time
What changed after delivery
Moving routine questions to the virtual assistant reduced the daily load of repetitive calls and gave agents more time for customer conversations that required judgment, explanation, or follow through. It also helped relieve the strain that comes from answering the same low complexity requests all day.
Customers got a faster digital path for common questions without losing access to human support. The assistant could resolve straightforward requests on its own and still move the customer to chat or callback when the issue needed an agent.
In this mid market version of the engagement, that operating model translated into about $670,000 in lower contact center costs, 166,000 fewer calls per year, and a 5% lift in customer experience index score.
- More than 400 common inquiries automated
- 166,000 fewer calls per year
- 5% improvement in customer experience index score
- Faster digital answers for routine account questions
- More agent capacity for complex customer needs
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