BBVA taps AI to measure customer experience

BBVA is now using generative AI to listen to and analyze conversations between customers and their account managers. This move marks a shift in how financial institutions measure success. Instead of relying on short surveys or star ratings, the bank is using AI to understand the 'why' behind customer frustration or satisfaction. For retailers and operators, this signal is clear: the technology used to manage your financing programs is becoming much more perceptive. Historically, if a customer had a poor experience with a loan application or a point-of-sale payment plan, the merchant might only hear about it through a complaint or a lost sale. BBVA’s approach identifies specific pain points in real-time by processing thousands of hours of dialogue. This allows the lender to refine their scripts, fix technical bugs faster, and improve the overall conversion rate for products like consumer loans. As a business owner, you should expect your lending partners to eventually offer similar insights. The goal is to move beyond simple approval rates. Soon, lenders may be able to tell you exactly where customers are getting confused in your financing workflow. This AI-driven feedback loop will likely become the new standard for optimizing the customer journey at the checkout counter.

Source: Finextra — Lending

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