January 14, 2020: Haptik, one of the world’s largest conversational AI platforms. has built a next-generation Intelligent Virtual Assistant (IVA) for IIFL Holdings Limited (formerly India Infoline Finance Limited), an Indian diversified financial services company headquartered in Mumbai that serves over 4 million satisfied customers across various business segments.
IIFL’s customer base has a unique profile where a significant share of their customers is loyal and have high repeat usage. Investments and broking being a high-touch, time-sensitive service, IIFL worked with Haptik to offer a 24X7, context-aware IVA.
ASK-IIFL IVA by Haptik employs automated query resolution for a variety of common use cases. and through multiple API integrations, the IVA was linked to IIFL’s Knowledge system and CRM, ensuring effective dissemination of information to users at any point of time. With this deployment, IIFL was successfully able to respond to high-frequency investor queries like trading report, account statements & ledgers, investment tips and analyst recommendations.
The IVA runs at a resolution time of 45 seconds, resolving queries 75% faster whilst enabling more than 30,000 conversations and receiving an average user feedback of 3.7 out of 5. It has significantly transformed IIFL’s customer support.
Commenting on IIFL’s strategic association with Haptik, Dharmender Narang, EVP & Chief Customer Experience Officer at IIFL, said, “IIFL Securities greatly prizes its customers and believes in empowering them to get self-help at their convenience. However, we are always available to support them whenever required. Our ASK-IIFL (Chatbot & Live Chat) developed & supported by Haptik’s Intelligent Virtual Assistant, has helped us cater to a large number of queries in real-time. The Ask-IIFL IVA has significantly reduced our resolution time and is leading our customer support efforts from the front. We would like to thank Haptik for a great beginning and look forward to working with them to further enhance our customers’ experience.”
IIFL is a financial services conglomerate started by a group of passionate entrepreneurs in 1995. A pioneer in the retail broking industry, its flagship 5paisa trading platform offered the lowest brokerage in the industry and freedom from traditional ways of transacting. The company’s strength has been a continuous process of innovation and reinvention to adapt to the ever-changing modern marketplace.