An RBI bulletin study highlights customer support and grievance redressal as key challenges for fintechs, with users citing poor service, app glitches and loan processing issues
'Systems respond with templated emails and helplines loop back endlessly'
State-owned banks are prioritizing local language skills in their hiring to improve customer service and reduce language barriers, with Bank of Baroda and SBI leading the way
Ministry asks lenders to strengthen handling customer grievances following several incidents
Agentic AI goes beyond scripted responses to anticipate needs, personalise interactions, and solve problems with minimal human intervention
"They swipe the same card for every transaction, regardless of whether it offers optimal rewards for that category," says Adhil Shetty, chief executive officer (CEO), Bankbazaar.com
This is also happening due to increased usage of artificial intelligence (AI) in its customer services function
Despite AI agents and chatbots increasingly becoming a part and parcel of customer service, they have yet to significantly reduce customer service wait times, with a report revealing that Indian consumers spent over 15 billion hours last year waiting to lodge customer service complaints. The ServiceNow Customer Experience report analysed the widening gap between rising customer expectations and the reality of service delivery. It surveyed 5,000 Indian consumers and 204 Indian customer service agents. As many as 80 per cent of Indian consumers now rely on AI chatbots for essential services like checking complaint statuses and product recommendations. Yet, these same consumers collectively spend an astounding 15 billion hours on hold each year, according to the report. "While some headway has been made-- the average Indian spent 3.2 hours less time waiting for an issue to be resolved than the previous year--there is still a considerable gap between customer expectations and service ..
Ola Electric grows its network to 4,000 showrooms and service centres following consumer complaints and social media backlash on product quality and after-sales service
Ixigo's AI-driven trip-planning tool, 'PLAN', has crafted over 282,700 personalised itineraries, engaging more than 1.5 million users since its launch last year
Poised to Disrupt Business Communication with a Simple Conversational Widget.
Customer relationship management-focused entity Salesforce is keen on expanding in India and looking for more space in the country, a top official said on Wednesday. The company, which has centres in Bengaluru and Hyderabad to support global operations, is looking for space to expand in India currently, its chief operating officer Brian Millham told PTI here. Apart from this, Salesforce also serves the domestic market and this business has been the fastest-growing one in any country for two consecutive years. "India has been incredible for us from a growth perspective. But maybe that even pales in comparison to what we see in India from an employee perspective," he said, making it clear that the support rendered to the global operations is important. The company will continue to invest in India going forward as well, Milham said, adding, "In fact, (we are) looking for new space and expansion in that market." When asked about the same, its chief of engineering Srini Tallapragada ..
Air India on Tuesday said it has enhanced its customer support services by adding seven new languages to its IVR system, including Marathi, Punjabi, Tamil, and Malayalam, besides the existing English and Hindi. IVR (Interactive Voice Response) system will now automatically recognise the customer's language preference based on the user's mobile network, eliminating the need to manually choose a language, and thereby reducing the response time, the airline said in a statement. The seven languages that have been in the airline's round-the-clock customer support services are Bengali, Kannada, Malayalam, Marathi, Punjabi, Tamil and Telugu, the statement said. Air India has recently set up five new contact centres, offering round-the-clock assistance to its customers worldwide with dedicated desks for premium and frequent flyers. Special assistance in Indian languages to Air India customers will be available from 0800 am to 2300 pm, every day, the airline said.
US aerospace major Pratt & Whitney on Wednesday announced the establishment of a new Customer Service Centre (CSS) in Bengaluru. As part of the company's India Capability Centre, the new facility will drive customer service and operations support for Pratt & Whitney Canada's 68,000 engines in service globally, the company said. Co-located with Pratt & Whitney's supply chain operations, engineering, and digital transformation centres of excellence in India, CSS will deliver a range of services such as MRO support, spare part management, engine leasing, engine reliability analysis and contract administration. The facility will employ over 150 aerospace experts and engineers who will support a global customer service ecosystem, it added. The centre is expected to cater to clients, including domestic and global airlines, original equipment manufacturers, MROs, regulatory bodies and small operators, Pratt & Whitney said. "With the new Customer Service Centre, we are ...
Indian startups and researchers have over the years worked on the technology to build practical solutions
Public cloud services market in India is expected to reach $17.8 billion by 2027
UBS's newly created wind-down unit, known as Non-core and Legacy, widened its quarterly pretax loss to $1.93 billion in the quarter from $478 million in the previous period
Central bank 'will not hesitate to act' against entities indulging in such behaviour, says deputy governor Swaminathan J
Built upon foundation models such as Meta's Llama 2, OpenAI GPT-3.5 Turbo, Mosaic MPT, Flan T-5, and others, ACE LLM has been adapted for specific industries and functions