Meet Ava, Security Service Credit Union’s Intelligent Virtual Assistant offering 24x7 member service
About SSFCU
Security Service Federal Credit Union(SSFCU), with over $9.8B in assets and serving over 800,000 members, is one of the largest credit unions in Texas.
The Problem
SSFCU offers a comprehensive portfolio of products to its members. Due to a large set of offerings to choose from, members found it challenging to find the right-fit products and services. This was adversely impacting their top line, bottom line, and member experience. SSFCU is also an early adopter of digital solutions and always strives to offer the best new technologies to their members at the earliest.
Pain Points
- Loss in new revenue through lack of new product adoption & new member signups
- Drop in member satisfaction rates due to a lack of awareness of best fit offerings
- Increased costs from contact center operations
- Depleted member experience due to a lack of 24×7 support and high query resolution times
Solution
Ava, the digital assistant powering SSFCU, is currently on the website assisting members and prospects in their search for right-fit offerings
Ava’s Impact
- Ava enables members and prospects to find best fit offerings by understanding their needs and thus enabling higher revenues, member satisfaction and increased lifetime value
- Ava helps members with information they are looking for instantaneously leading to better member experience
- With Ava, SSFCU has been able to deflect a large portion of the call center inquiries, greatly reducing the call center call volume leading to cost savings
- Ensure 24×7 member support, without investing in 24×7 Contact Center Operations
Key Impact Metrics
$3.6M
Saved from support
operations
95%
Accuracy
35786Hours
member wait
times averted
Improved
member satisfaction
Jay Tkachuk
Senior VP, Digital Services at SSFCU
“interface.ai is one of the very few platforms that can achieve 90%+ accuracy within just a few weeks”
In the news
What does the near future hold?
In this year, through ‘Ava’, SSFCU is expected to
$5M
Savings in operational
costs
10%
Increase in member
lifetime value
$3M
In new earnings
Prevent
Member churn
Overall, Ava is expected to bring significant ROI for SSFCU.
Next Steps
- Support all browsers and devices
- Omni-channel capabilities – Website, Mobile App, SMS, IVR
- Assist members with information, transactions and proactive experiences
- Successfully support the differently abled according to ADA guidelines
- Integrate with CBS/CRM applications
Other Case Studies
Northern Credit Union's Iva
“We have high expectations for servicing our members. Our vision is to create the most seamless experience for our members.”
Southland Credit Union's Scuba
“We continuously strive for improved service for our members at Southland Credit Union. We needed a technology that can help in delivering communication and information in all the ways that our members prefer and to provide them with 24/7 assistance.”
Diamond Credit Union's Iva
“The vision of the project is quite simple. It is to get our membership answers to their questions quickly, and more efficiently.”
KeyPoint Credit Union's Iva
“Artificial intelligence(AI) has always been on our roadmap for the past couple of years. We wanted to improve the member engagement and elevate the overall experience and hence were looking for vendors that understood KeyPoint’s current and future requirements and who would be a good fit.”
Dover Federal Credit Union’s Iva
“ Our vision is to offer the most seamless member experience possible. With more members reaching out to us on the call center since the pandemic, we were looking for innovative solutions to help us manage these increased calls. We were also looking to enhance our self-serve capabilities and be operationally efficient in the long term. ”
PSFCU's Mya
“With the emergence of COVID – 19, we did not want to lose the personalized support we provide our members. We needed a technology that can free up the staff for personal assistance and also ensure lower costs of operations. This is where we pivoted, from ‘how can we help our members?’, to ‘Have them help themselves.”
America's Credit Union’s Ken
“We were looking for solutions that will help us complement our member service channels, make our member support function efficient and improve our overall member engagement. With the onset of COVID-19, we saw a dramatic increase in the usage of online channels from our members, and we were looking for a solution that would help us maintain high service levels.”
People First Federal Credit Union’s Mac
“We were looking at avenues that will help us maximize the potential of our Credit Union and be best placed to serve our members round the clock.”
Neighborhood Credit Union's Nick
“The vision of the engagement is to harness the rich member interaction data from the call center to build the proactive solutions & industry best experiences for members”
University Credit Union’s Royce
“From our evaluation, it is clear that, interface.ai is far ahead of even the second-best vendor operating in the Intelligent Virtual Assistant space for Banks and Credit Unions”.
