Agibank grows 5x its digital end-to-end origination and already prepares for the next productive and customization leap with the use of Artificial Intelligence
With the ever-increasing accuracy of data analysis, the use of intelligent algorithms has had great impacted on the market and the way all businesses fields act.
Nowadays, artificial intelligence is one of the biggest innovation drivers for companies, with the potential to deeply change the way they operate, challenging the efficiency limits, experience, and the improvement at several sectors.
One of the main possibilities of AI and Generative Pre-trained Transformers (GPT) is in the personalization of service and sales experience. AI’s ability to process and recognize feelings and interactions will enhance Agibank’s ability to respond in a contextualized and personalized way the customer’s needs.
“The technology opens a world of possibilities for us to keep growing with scale, quality and personalization in order to attend the demand of millions of Brazilians who, many times, have difficulties with journeys full of frictions, such as extensive sign-ups, biometrics and onboardings filled with information that generate poor experience and digitization barriers,” says Matheus Girardi, Agibank’s Clients and Products Officer.
In June, the Company registered growth of 484% in product enrollment via digital channels — such as the account app and WhatsApp – when compared to the same period of 2022. “Recently, we connected WhatsApp with Marketing Cloud – Salesforce platform that gathers, stores and manages all marketing campaigns. With this, we can be more precise when choosing the most relevant journeys and touchpoints for each customer. Furthermore, with the use of AI and chat GPT, we are piloting new skills for our virtual consultant – “Gi” – so that she can talk and bring increasingly personalized offers to our customers and, above all, acquire the ability to dialogue without the need for pre-defined and repetitive options”, highlights Girardi.
According to the executive, it takes a lot of data to profile a person, understand how they would like to receive a message and via which channel. “It’s not just about new product sales, it’s also about building customer loyalty. The AI already helped us reduce churn by 25% in the last few months, for example. When we associate our predictive model to indicate the behavior of customers who are about to leave, it allows segmenting approaches and offers according to the profile and situation of each client, increasing our response rates,” says Girardi.
Democratizing Brazilians’ access to financial services has always been Agibank’s main focus, by beginning with the purpose of making people’s daily lives better, generating financial and digital inclusion for all. Therefore, the Company’s addressable market is the “Deep Brazil”, which are people with monthly income up to 4 thousand reais and represent 100 million of people in the country.
Since a large part of this demographic still needs support to enjoy the easiness of digital channels and have faster end easier access to financial services that can, in fact, improve their daily lives, Agi has an omnichannel operation that guarantee a complete digital experience at its channels and in the almost 900 smart hubs all around Brazil.
“We see this portion that is equivalent to half of the Brazilian population as a great opportunity. Our hubs are Gateway to Digital – totally cashless and paperless – and perform an important role in hunting and advisoring. They are not branches like traditional banks, we do not have revolving doors, bank tellers and security guards, they are totally asset light, because we have our proposal to go beyond the services sales and act in an inclusive and personalized way to be able to meet the different people’s needs. For this reason, we are always following the constant changes in the market and innovating our business model more and more to conquer the priority of our customers”, clarifies Marciano Testa, founder of Agibank.
According to him, although technologies such as artificial intelligence and chatbots connected at the company big data architecture can automatize the decision-making processes and improve the service velocity and convenience, the human support still is the key to set emotional links and provide a custom experience, mainly in the client onboarding phase, when they can choose to receive their earnings at Agibank.
“The implementation of new technologies and personal care do not have to be mutually exclusive. In fact, the combination of these two elements is extremely powerful. We use the best in each of the channels. Our hubs, for example, have the best relation LTV/CAC for acquiring new customers and then our consultants manage to educate them to use all the digital channels, that have the best cost to serve. In other words, the automation and efficiency brought by technologies improve the overall experience and give the bank the ability to scale and efficiency with low cost to serve, while the human extends the look to each one’s needs, is empathetic and distinguished, exactly our strategy here at Agibank”, emphasize Testa.
Complementing the founder of the company’s speech, Matheus Girardi states that is necessary to grow in all ways. “We need to be where our customer prefers to use. Therefore, we are betting and investing more and more in different service channels so that people are served in whatever way they feel most comfortable. Our customers can contact us via telephone, chat, app, WhatsApp, video calls with sign language, social media and we still have room to reach 1.400 hubs in Brazil’’, he concludes.