Boost.ai, a global leader in conversational AI at scale, today announced the expansion of its customer relationship with Michigan State University Federal Credit Union (MSUFCU), a leading credit union managing over $6.6B in assets for 315,000 members. Leveraging Boost.ai’s highly scalable platform, MSUFCU has implemented two virtual agents that work together to support both internal and external service needs. This has delivered major gains in member satisfaction and efficiency, enabling MSUFCU to quickly expand its business to support a new generation of digital banking needs.
Boost.ai boasts the largest network of bots available, with the most robust portfolio of intents on the market and more than 250 virtual agents in production today. Its unique broad-scope approach enables large-scale deployments that deliver the highest levels of accuracy and value across multiple agents and service needs. With Boost.ai, MSUFCU offers one of the industry’s only internal service chatbots, ‘Gene’, to assist service representatives with quick information in real time, as they interact with members. This works hand-in-hand with a member-facing chatbot, ‘Fran’, which quickly answers member questions and helps with key tasks. The success of the virtual agents led to MSUFCU creating a brand new position, titled AI Content Administrator, who is responsible for reviewing and updating conversations while making sure any outgoing text is easily consumable.
“We don’t look at conversational AI as a technology project, Gene and Fran are a member service opportunity and we support their development with that in mind. Boost.ai enabled us to provide the superior service we are known for in a new way, allowing us to grow quickly and efficiently,” said Ben Maxim, Vice President of Digital Strategy and Innovation at MSUFCU. “We have 315,000 reasons why Gene and Fran are so important to our organization. Boost.ai’s user-friendly platform enables our in-house AI team to continue to find new ways to provide the best possible service for our members.”
With Boost.ai, MSUFCU is poised for unmatched ROI – a critical differentiator at a time when studies show US digital banking users will surpass 200 million by 2022. With more than 25 percent of its members fully digital and an increase in eService messages of more than 251 percent this year alone, MSUFCU leveraged Boost.ai to seamlessly handle more than 400,000 requests a year. With Gene specifically, MSUFCU estimates it saves member service representatives 2,000 employee to employee interactions every month, freeing up valuable time that can be spent on more complex issues with members. The credit union understands the chatbots are not just a set-and-forget tool sitting on the website and they’re dedicated to improving the chatbot, working with Boost.ai to update intents and messages based on feedback from members. After launching each chatbot, MSUFCU is invested in continually tracking the gains made in efficiency, time, member service and more to truly measure the lasting impact of what AI can do for their organization.
“Our customers need to accelerate digital access for their members more quickly than originally anticipated. It’s more important than ever to adopt broadscope chatbots that can keep up with the greatly increased volumes, and the variety of inquiries, while keeping accuracy high,” said Lars Ropeid Selsås, founder and CEO of Boost.ai. “With a broad scope model that’s optimized for scalability, Boost.ai delivers a foundation for MSUFCU to support any magnitude of growth both now and in the future, without sacrificing quality.”
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