Categories: Latest

Singapore’s OCBC Bank successfully utilizes AI-based home loan chatbot created by India’s CogniCor

20,000 enquiries&10% of chats sessions converted into sales leads;Emma serves as perfect guide for prospective home loan applicants

Kerala, April 28, 2017: Singapore’s OCBC Bank has successfully utilized ‘Emma’ – the AI-based home loan chatbot created by India’s CogniCor. Over the past 3 months, OCBC Bank’s customers are having a pleasant experience talking with the bank’s Artificial Intelligence based Home and Renovation loan chatbot Emma. Developed by India-based CogniCor, a leading global AI-based platforms developer that offers cognitive virtual assistant solutions, Emma successfully disseminated information regarding home and renovation related queries in the most pleasant, convenient, fast and accurate manner leading to widespread customer satisfaction success for the bank. CogniCor was also amongst the promising start-ups selected in OCBC Bank’s fintech accelerator programme.

Registering more than 20,000 enquiries since January 2017 and converting more than 10% of the chat sessions into mortgage sales prospects, Emma has become extremely popular with customers of OCBC Bank. The AI Based chatbot has the ability to have human-like conversations and mimics the actions of a loans advisor. She also asks leading questions to the applicants, determining their eligibility through a built-in TDSR calculator

Commenting on the achievements of Emma, Dr. Sindhu Joseph, Co-founder and CEO, CogniCorsaid, “Emma is one of our most technologically adept chatbots and it gives us immense pleasure to know that it is serving OCBC bank well as her inception lies in the ‘Open Vault at OCBC’ fintech accelerator program of OCBC. Virtual assistance, though still at a nascent stage is bound to find stable ground beneath its feet very soon and Emma is one of the first, completely AI, machine learning and deep learningbased chatbots. The efficiency, capacity and cognitive natureof AI-based chatbots ensure that they will be the obvious next step in consumer communications in the future.”

Emma provides a fast, relevant and ‘always-on’ digital responsive medium to ensure that not a single customer’s queryis left unanswered. Even if the customer wants to directly speak to OCBC Bank’s mortgage specialists, Emma asks for the contact details and then quickly forwards the information to the available human advisor along with the chat logs of her conversation with the customer.

Emma provides consumers with an alternative to browsing the home loans website for information, and frees Mortgage Specialists to assist consumers with more complex requests and inquiries. She can very easily identify and segregate the complex and exhaustive terminology and abbreviations used in home loan requirements. In the past, the average waiting time for an email reply to a written query is usually one or two working days. Emma is currently available on desktops, laptops and smart mobile devices.

Emma was jointly developed by CogniCor and OCBC’s Home loan team. She was trained for three months post which she became quite adept at handling all kinds of queries.Any update or revision in regulations regarding home or renovation is quickly ‘updated’ to Emma’s database, thus ensuring that information provided by her is always accurate, quick and relevant.

Corporate Comm India(CCI Newswire)

The Property Times News Bureau

Recent Posts

NAREDCO Maharashtra NextGen Ties Up with Brigade REAP to Strengthen PROPEL, Empowering Emerging Entrepreneurs in Real Estate

Brigade REAP Incubates 76 Proptech Startups, Leading India's Largest Proptech Ecosystem with ₹200 Cr Earth…

1 day ago

Dr. Gautam Kanodia: Redefining Luxury Real Estate with KREEVA

New Delhi, November 22, 2024: Dr. Gautam Kanodia has emerged as a visionary leader, redefining…

1 day ago

The Rise of Premium Luxury Residences: How NCR is Setting New Standards

New Delhi, November 21, 2024: Over the years, Delhi-NCR has emerged as a hotspot for…

3 days ago

3A Composites’ Flagship BrandALUCOBOND Launches a Premium Product ‘ALUCODUAL®’

~ The Company strengthens the product portfolio with the launch of innovative & ‘Made in…

3 days ago

Government Policies and Housing Premiums Under Spotlight in latest Mumbai Realty Report

- NAREDCO Maharashtra and 1 Finance Unveils Comprehensive Study on Mumbai's Real Estate Landscape -…

3 days ago

Onward Workspaces Expands with leasing 18,000 Sq. Ft. Premium Facility at Emaar Capital in Gurgaon, Catering to Global Enterprise

The announcement marks a major step in offering Flexible Grade-A Office Solutions for Modern Businesses…

3 days ago