Improving CX with AI: a financial services case study

Our client, one of North America’s top 10 financial services companies, faced the multifaceted challenges common to large, complex contact centres. With delivering exceptional customer experiences as a priority, they had a strong emphasis on innovation and operational excellence.

The challenge: modernizing a large, complex contact centre

Legacy systems and workflows meant efficiency challenges and also hindered centralized data storage and analysis. The need to stabilize service levels while simultaneously modernizing operations presented a significant hurdle. 

To achieve their goals, the customer sought to:  

• • • Modernize their contact centre operations 
    • Stabilize service levels 
    • Enable seamless interactions 

With millions of clients across personal, business and institutional markets, streamlining processes and improving operational efficiency was important – but it couldn’t come at the expense of the customer experience; it needed to enhance it.  

To remain competitive and meet escalating customer expectations, a strategic shift towards AI-driven solutions seemed the best course of action. This required a comprehensive approach that addressed both technological and operational aspects. 

The solution: Bell's AI-driven advisory approach 

The CXAI advisory team – the customer experience arm of Bell’s contact centre professional services team – implemented a comprehensive, multi-phased approach. This involved a detailed business audit incorporating interviews, operational workshops and in-depth data analysis. This meticulous process uncovered strategic and tactical opportunities to leverage AI effectively.  

Our focus included:  

• • • enhancing workforce management (WFM),  
    • optimizing call deflection strategies, and 
    • seamlessly integrating new AI capabilities.  

The analysis addressed and overcame implementation barriers, including change management challenges and integration with existing technologies. A phased implementation ensured minimal disruption to ongoing operations. 

Key suggestions for improvements included significantly enhancing call deflection strategies through AI-powered insights and strategic digital channel shifts. This initiative unlocked valuable new insights into customer behavior, preferences and needs, enabling personalized advocacy and accelerating digital adoption.  

Simultaneously, the team optimized WFM planning and execution with structural enhancements. This involved streamlining roles, refining processes and leveraging AI to improve forecasting accuracy and resource allocation. The team also identified opportunities to use automation and AI-powered tools to elevate the quality and consistency of customer interactions. 

The results: measurable improvements and significant cost savings 

Bell identified over $40 million in annual cost savings for the financial institution. This encompassed 20 distinct areas of optimization and over 60 tactical and strategic actions. Our analysis also highlighted opportunities for a significant reduction in annual training hours – a decrease of 15,000 hours – demonstrating the efficiency gains achievable through AI-driven automation. These operational efficiencies extend across both frontline and management teams, opening the door to improved productivity and reduced operational costs and an overall increase in customer satisfaction and loyalty. 

Conclusion: a partnership for AI-driven CX success 

This case study highlights the transformative potential of AI in optimizing customer experience operations within the financial services sector. By partnering with Bell, our client not only uncovered opportunities for significant cost savings, but also enhancements to the overall customer experience, operational efficiency, and actionable path for modernizing its contact centre operations for the future.  

Contact your Bell representative to explore how our consultancy and advisory services can help your organization achieve similar results.