Today’s consumers are increasingly drawn to self-service options for customer service and support. As the loan servicing sector searches for answers on increasing customer satisfaction and retention, conversational AI and chatbots are a great opportunity to provide borrowers with a self-service portal to improve their experience while reducing a servicer’s operating costs.
Sutherland’s Chatbot Solutions are enterprise-grade conversational AI applications designed to help clients reduce costs, scale and grow their businesses. These chatbots, powered by conversational artificial intelligence and machine learning, use messaging and AI to converse with humans and automate repetitive tasks.
Sutherland’s Chatbot Solutions team combines the expertise of its mortgage executive and digital labs staff to work with servicers on a customized self-service and automation capability that aligns with their brand and integrates with their CRM and enterprise systems. The team’s chatbot design and implementation work is based in Sutherland’s San Francisco labs.
The Chatbot Solutions team offers its clients end-to-end solutions and service. The development process begins with a deep dive into the customer experience, identifying pain points and other opportunities for automation and conversational AI to improve the process for everyone involved.
With a dedicated team of software and machine learning engineers, Sutherland builds out conversational flows for each use case. They develop scripts that align with brand tone and the chatbot goals, then layer this script and a client-branded user interface on top of the chatbot’s engine and integrations for deployment.
After deployment of a chatbot, Sutherland’s team continues to monitor the solution, operating, optimizing and iterating on the process.
Sutherland’s team can develop preliminary functioning prototypes in just a few weeks. Full system integrations, including CRM, authentication and backend integrations, tend to require one to three months.
For servicers, Sutherland’s Chatbot Solutions are an opportunity to enhance the customer experience while reducing operating costs. Chatbots can engage with customers via messaging or chat systems to handle simple, frequently asked questions, freeing up time for human customer service representatives to handle more nuanced, complex problems and tasks.
Borrowers looking for a fast, simple answer don’t want to wait on hold or go through multiple button prompts. Chatbots are able to answer inquiries more efficiently, improving response speed and efficiency as well as customer satisfaction and retention.
In instances where the chatbot can’t answer an inquiry – for example, if the question is more complex or in cases where the borrower requests to speak with a human representative – Sutherland’s chatbot designs can include handoff to a live agent.
Servicers using Sutherland’s Chatbot Solutions also see an increase in their Net Promoter Score (NPS), as customers appreciate the quick, accurate responses and the ability to self-serve.
As the economic circumstances related to COVID-19 lead to an influx of borrower questions about forbearance, the use of chatbots allows servicers to scale up their customer service capabilities without increasing headcount. Clients allowing customers to self-serve via conversational AI see a dramatic reduction in call volume.
Product name: Sutherland Chatbot Solutions
Snapshot: Sutherland Chatbot Solutions is the conversational AI experience solution offered by Sutherland. Combining user-centered design, AI and 30 years of customer experience leadership, Sutherland Chatbot Solutions are enterprise-grade conversational AI applications that help clients automate, scale and grow.
