success story

Virtusa builds customized enterprise cognitive search platform for a leading bank

Aiming to improve customer experience, a major bank wanted to enhance its consumer-facing portal by introducing direct information search functionalities. The bank recognized that customers often prefer self-service options, particularly when they need quick answers. It sought to enable them to locate solutions and information independently without visiting the bank or contacting the call center. The addition of a direct search feature was expected to provide a more personalized and effective service to customers and improve customer satisfaction.

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The Challenge

In its endeavor to achieve an intelligent search technology solution for more efficient and faster information retrieval, the client wanted their enterprise search technology stack to meet the following parameters:

  • Increased rate of customer clicks on the website and level of engagement when searching for information 
  • Auto-recommended options to customers when they search for information
  • Redirecting the customer to the right next step after finding information
The Solution

Virtusa built a customized enterprise search solution for the customer leveraging AI to search across multiple structured and unstructured data sources (images, URLs, pdfs, videos) to retrieve relevant information about the bank's products and services. The team offered the following solutions to the client:

  • Context management: the search solution effectively responds to the customer's query and directs them to the relevant information, support tool, or communication channel with optimal efficiency 

  • Best-of-Breed search capabilities: the solution provided dynamic results, along with features such as type ahead, auto-complete, and typo tolerance 

  • Conversational search: it supported natural language-based queries and comprehended bank-specific terminology and synonyms 

  • Customer intent prediction: the solution could build customized search results based on customer profile, account status, recent actions, recent searches, location, etc. 

  • Result tuning: it allowed the bank to customize search results to promote newly launched products and customer services
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The Benefit

With Virtusa's customized search enterprise solution, the client experienced several benefits, including increased participation in the banking portal, reduced customer service calls related to bank products and services, and improved search performance and accuracy.

With the solution in place, the client achieved the following:

Increase in banking portal visitors with at least one click

Reduction in % of searches without any results

Reduction in customer service call volume

Improvement in % of banking portal search users who use search results

Improvement in search response retrieval speed

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