- Chatbots
- Speech Recognition
Moka is a direct-to-consumer FinTech company on a mission to empower Canadians to achieve their financial goals. Through automated investing, smart saving plans, and valuable rewards, Moka has made it possible for Canadian millennials to take control of their finances without needing in-depth financial knowledge or making big lifestyle changes. Since its launch in 2017, the Moka app has been downloaded over 1 million times, has thousands of 5-star reviews, and has helped its customers invest responsibly, reduce expenses, and accelerate debt repayment.
Moka, a direct-to-consumer FinTech company, was experiencing rapid growth since its launch in 2017. The Moka app had been downloaded over 1 million times and had thousands of 5-star reviews. However, with this growth came the challenge of scaling its customer support. Moka was already using some support functionalities within their CRM ecosystem, but these did not offer robust features that could provide excellent customer experience at scale. The company faced a high volume of messages during billing periods and general inquiries that consumed valuable support staff bandwidth. Moka’s Head of Customer Success, Cloe Tetreault-Tremblay, was faced with the decision of either scaling the support team at the same pace as their user base or automating some part of their customer experience to free up valuable work hours for support agents.
Moka decided to partner with Ada, a company specializing in AI and data-driven solutions. Together, they launched a conversational AI chatbot in just 5 weeks. The chatbot was positioned at the top of the support funnel, offering both self-serve and routing options for visitors. APIs were used to automate Intercom ticket submission directly from within the bot, creating a better customer experience. The bot was also leveraged for segmentation and personalization as Moka moved towards new markets. Ada’s Automated Customer Experience (ACX) Consultant worked closely with Moka's Customer Success team to identify the most frequent and most valuable customer interactions, and built that into their chatbot. This resulted in a 95% recognition rate, meaning the bot was successfully able to understand 95% of interactions, regardless of phrasing or typos.
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