WaFd Banks on Talkdesk to Transform Customer Experiences

Rhea-AI Summary

WaFd Bank has partnered with Talkdesk to enhance customer experience through innovative AI solutions. The collaboration aims to improve digital banking services using Amazon Lex for efficient voice and chat functionalities. WaFd, managing $20 billion in assets across 200+ locations, focuses on providing exceptional customer service. The new platform is expected to reduce account inquiry times by 90% and enhance self-service capabilities, ultimately driving customer satisfaction and operational efficiency.

Positive

• Partnership with Talkdesk enhances digital banking capabilities.
• Expected 90% reduction in account inquiry time.
• Utilization of Amazon Lex for improved customer interactions.
• Integration with Fiserv DNA for comprehensive client data view.
• Innovation aimed at enhancing customer satisfaction and operational efficiency.

Negative

• None.

Delivers secure, friction-free modern banking that ‘wows’ customers with every interaction

SAN FRANCISCO--(BUSINESS WIRE)-- Talkdesk®, Inc., a global contact center leader for customer-obsessed companies, and WaFd Bank (NASDAQ: WAFD), a full-service commercial U.S. bank, are working together to lead faster innovation and better service for banking clients by leveraging the Talkdesk Financial Services Experience Cloud^TM for Banking, a purpose-built customer experience (CX) platform for industry-specific needs.

A regional bank with next-door-neighbor appeal, WaFd encompasses more than 200 locations across eight Western states, manages $20 billion in assets, and offers a full range of banking services. A century-old establishment, much of WaFd’s staying power can be credited to its commitment to customer service, including the adoption of new technology to infuse every client experience with the elusive “wow” factor.

In recent years, WaFd has been on a digital transformation journey, which called for an overhaul of its contact center platform. The company’s legacy system was disparate, outdated, and lacking in features, functionality, and reporting. In the search for a new solution, WaFd required use with Amazon Lex, a fully-managed artificial intelligence (AI) service with advanced natural language models, to support voice and chat functionality for login, account lookup, and internal transfers. Through a long-standing relationship with AWS and the open platform design of Financial Services Experience Cloud, Talkdesk allowed WaFd to maximize its Amazon Lex investment and accelerate CX transformation.

Talkdesk added further unique value to WaFd by helping operationalize its Amazon Lex investment, enabling intelligent orchestration of all customer engagement channels. Self-service via Amazon Lex voice and chatbots can also be seamlessly elevated to live agent assistance. Another key feature of the solution is Talkdesk Identity^TM, which provides fraud protection through self-service authentication using voice biometrics. This new capability has already resulted in a 90% reduction in the time it takes WaFd customers to make an account balance inquiry.

Longer term, WaFd expects the combined Talkdesk and Amazon Lex solution to save costs, decrease voicemail volumes and call abandonment rates, and increase customer satisfaction by providing fast resolutions for many common banking transactions via self-service. The solution is easy for clients to use and contact center agents and bank executives can effortlessly navigate its features with minimal training. Financial Services Experience Cloud also integrates with Fiserv DNA, the WaFd core banking platform. This allows aggregation of client data to further drive self-service and gives agents a complete, 360-view of the client relationship during live interactions.

“WaFd is creating a digital-first banking experience with advanced capabilities like AI and voice authentication to address key friction points in the customer journey and offer simple-to-use options for service and support across any channel or device,” said Dustin Hubbard, chief technology officer, WaFd. “With Financial Services Experience Cloud and Amazon Lex together, WaFd is primed to meet our clients’ expectations today through intelligent, connected, and secure interactions while having a foundation in place for tomorrow’s CX challenges.”

“In a fiercely competitive industry, financial services organizations must constantly innovate to attract and retain customers,” said Andy Flynn, senior vice president, industries strategy, Talkdesk. “WaFd’s longevity is built on exceptional service and the ability to continuously reinvent new and better ways of doing business. Talkdesk looks forward to working with WaFd and AWS to raise the bar for banking experiences ever higher.”

“More and more financial services organizations are leaning on AWS’s scale, performance, and breadth of AI capabilities to drive innovation and customer success,” said Vasi Philomin, vice president of AI Services, Amazon Web Services. “Establishing highly efficient contact centers requires significant automation, the ability to scale, and a mechanism for active learning through customer feedback. By using Amazon Lex, in collaboration with Talkdesk, WaFd has built a strong foundation of providing excellent customer service by helping them respond to customers faster, resolve requests more easily, and improve overall customer experiences.”

Additional Resources:

• Learn more about Talkdesk Financial Services Experience Cloud
• See Talkdesk as a Leader by Gartner in the 2022 Magic Quadrant for Contact Center as a Service (CCaaS) and other recent awards and recognition

Social Networks:

• Talkdesk Community: https://www.talkdesk.com/customer-community
• Blog: https://www.talkdesk.com/blog/
• Twitter: https://twitter.com/Talkdesk
• LinkedIn: https://www.linkedin.com/company/talkdesk/
• Facebook: https://www.facebook.com/Talkdesk/
• Instagram: https://www.instagram.com/Talkdesk/

About Talkdesk

Talkdesk® is a global cloud contact center leader for customer-obsessed companies. Our automation-first customer experience solutions optimize our customers’ most critical customer service processes. Our speed of innovation, vertical expertise, and global footprint reflect our commitment to ensuring that businesses can deliver better experiences across any industry and through any channel, resulting in higher customer satisfaction and accelerated business outcomes.

Talkdesk is a registered trademark of Talkdesk, Inc. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221019005755/en/

Camille Beasley

camille.beasley@talkdesk.com

(972) 896-1936

Source: Talkdesk, Inc.

FAQ

What is the partnership between WaFd Bank and Talkdesk?

WaFd Bank has partnered with Talkdesk to enhance customer experience through AI-driven solutions, specifically using Amazon Lex for improved voice and chat services.

How much in assets does WaFd Bank manage?

WaFd Bank manages approximately $20 billion in assets across more than 200 locations.

What technology will WaFd Bank use to improve customer service?

WaFd Bank will utilize Amazon Lex, an AI service, to enhance customer service through efficient voice and chat functionalities.

What is the expected impact of the new platform on account inquiries?

The new platform is expected to reduce the time for account balance inquiries by 90%.

How does the new partnership aim to improve customer satisfaction?

The partnership aims to streamline customer interactions, reduce operational costs, and increase satisfaction through enhanced self-service options.