DBS empowers its Customer Service Officers with Gen AI-powered virtual assistant to reduce toil and enhance customer experience
Singapore.18 Jul 2024
Developed in-house, CSO Assistant is expected to reduce call handling time by 20%
Singapore, 18 Jul 2024 - DBS will equip its 500-strong Customer Service Officer (CSO) workforce in Singapore with a Gen AI-powered virtual assistant before the end of 2024, enabling the bank to serve the more than 250,000 consumer and corporate customers who have queries each month more efficiently and effectively.
DBS will equip its 500-strong Customer Service Officer (CSO) workforce in Singapore with a Gen AI-powered virtual assistant before the end of 2024
Dubbed “CSO Assistant”, the Gen AI co-pilot was developed completely in-house by the bank’s AI engineers, integrating a Large Language Model tailored to local languages and parlance with voice telephony and speech recognition capabilities. CSO Assistant transcribes customer queries in real-time and does ‘live’ searches on the bank’s knowledge base to quickly retrieve query-specific information, enabling CSOs to deliver relevant solutions more speedily. CSO Assistant also helps with post-call documentation by providing instant call summaries and pre-filling service request fields.
Based on data collected since pilots began in October 2023, CSO Assistant has demonstrated transcription and solutioning accuracy of nearly 100%, and when fully deployed, is expected to reduce call handling time by up to 20%. Close to 90% of CSOs involved in the pilot reported that CSO Assistant had a positive impact on their workflow and expressed confidence in leveraging CSO Assistant in the longer term as a co-pilot.
Nimish Panchmatia, Chief Data and Transformation Officer, DBS, said, “We see Gen AI as a co-pilot to supercharge our employees, and our immediate focus has been on driving efficiency gains and quality improvement. CSO Assistant is a prime example of how we leverage Gen AI innovatively to remove toil in the way we work, which in turn enables our people to enhance customer journeys and deliver differentiated customer outcomes.In developing CSO Assistant, we took a measured approach by stress-testing it against our responsible data use frameworks, and iteratively enhancing it based on feedback received during the pilot.”
Indumathi Kunasegaran, a Singaporean who leads a team of CSOs and helps train other CSOs in the bank, said, “CSO Assistant has helped remove repetitive tasks from our daily work. It has also freed up bandwidth for my team and I to engage our customers more deeply as we deliver solutions more intelligently and efficiently.”
Singaporean CSO Team Lead Indumathi Kunasegaran and her team at DBS find CSO Assistant a boon in helping them serve the bank’s customers more effectively DBS is also progressively rolling out CSO Assistant to its other markets over the next 12 months, starting with Taiwan and Hong Kong.
CSO Assistant is one of over 20 Gen AI use cases which DBS is implementing, identified from a pool of over 240 ideas generated internally in 2023. Another use case which has been benefiting DBS employees is DBS-GPT, a Gen AI program similar to ChatGPT which the bank developed to help its employees with content generation and writing tasks in a secure environment. DBS-GPT is currently available to over 25,000 employees across the bank.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 15 consecutive years from 2009 to 2023.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
DBS will equip its 500-strong Customer Service Officer (CSO) workforce in Singapore with a Gen AI-powered virtual assistant before the end of 2024
Based on data collected since pilots began in October 2023, CSO Assistant has demonstrated transcription and solutioning accuracy of nearly 100%, and when fully deployed, is expected to reduce call handling time by up to 20%. Close to 90% of CSOs involved in the pilot reported that CSO Assistant had a positive impact on their workflow and expressed confidence in leveraging CSO Assistant in the longer term as a co-pilot.
Nimish Panchmatia, Chief Data and Transformation Officer, DBS, said, “We see Gen AI as a co-pilot to supercharge our employees, and our immediate focus has been on driving efficiency gains and quality improvement. CSO Assistant is a prime example of how we leverage Gen AI innovatively to remove toil in the way we work, which in turn enables our people to enhance customer journeys and deliver differentiated customer outcomes.In developing CSO Assistant, we took a measured approach by stress-testing it against our responsible data use frameworks, and iteratively enhancing it based on feedback received during the pilot.”
Indumathi Kunasegaran, a Singaporean who leads a team of CSOs and helps train other CSOs in the bank, said, “CSO Assistant has helped remove repetitive tasks from our daily work. It has also freed up bandwidth for my team and I to engage our customers more deeply as we deliver solutions more intelligently and efficiently.”
Singaporean CSO Team Lead Indumathi Kunasegaran and her team at DBS find CSO Assistant a boon in helping them serve the bank’s customers more effectively
CSO Assistant is one of over 20 Gen AI use cases which DBS is implementing, identified from a pool of over 240 ideas generated internally in 2023. Another use case which has been benefiting DBS employees is DBS-GPT, a Gen AI program similar to ChatGPT which the bank developed to help its employees with content generation and writing tasks in a secure environment. DBS-GPT is currently available to over 25,000 employees across the bank.
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About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 15 consecutive years from 2009 to 2023.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
