RoboChat Boosts UBank Loan Conversions
Key Points
- Ewbank, an Australian fintech‑bank, launched Robo Chat to streamline its home‑loan application process and boost customer conversion.
- The chatbot was developed via a company‑wide hackathon, involving marketing, product, risk, compliance, and legal teams to ensure a cohesive, regulated solution.
- Built on a hybrid IBM Cloud DevOps toolchain with Watson Assistant, the front‑end logic is simple enough for business analysts to edit directly, reducing reliance on developers.
- Since its beta launch, Robo Chat has handled over 20 000 queries with an 80%+ first‑try accuracy, earning a 4‑out‑5 satisfaction rating and delivering roughly a 15% increase in conversion for engaged customers.
Full Transcript
# RoboChat Boosts UBank Loan Conversions **Source:** [https://www.youtube.com/watch?v=hAqGYEERU9I](https://www.youtube.com/watch?v=hAqGYEERU9I) **Duration:** 00:02:41 ## Summary - Ewbank, an Australian fintech‑bank, launched Robo Chat to streamline its home‑loan application process and boost customer conversion. - The chatbot was developed via a company‑wide hackathon, involving marketing, product, risk, compliance, and legal teams to ensure a cohesive, regulated solution. - Built on a hybrid IBM Cloud DevOps toolchain with Watson Assistant, the front‑end logic is simple enough for business analysts to edit directly, reducing reliance on developers. - Since its beta launch, Robo Chat has handled over 20 000 queries with an 80%+ first‑try accuracy, earning a 4‑out‑5 satisfaction rating and delivering roughly a 15% increase in conversion for engaged customers. ## Sections - [00:00:00](https://www.youtube.com/watch?v=hAqGYEERU9I&t=0s) **Cross‑Functional Hackathon Fuels Robo‑Chat Launch** - Ewbank’s fintech‑focused bank used an organization‑wide hackathon and a hybrid IBM Cloud DevOps toolchain, involving marketing, product, risk, compliance, and legal teams, to develop and deploy the Robo‑Chat home‑loan assistant. ## Full Transcript
so Ewbank is an Australian bank that
sells simple deposit products and simple
home loan products we consider ourselves
a FinTech with a banking license and
that really gives us that focus on
disruption and thinking about the
customer experience first and the
banking component second the idea behind
Robo chat was really born out of the
business need to improve our home loan
offering and ultimately helping more
customers get through the application
process
Robo chat started with a hackathon and
the hackathon was run using people from
right across the U Bank business and and
that carried through right through the
through the projects and with something
that's fairly short and simple sounding
as a chatbot it actually involved the
whole business so we had marketing
helping us with tone-of-voice
products helping us with the product
questions risk and compliance and legal
making sure that we were giving the
answers to the customers in the right
way and we find bringing everyone along
that journey right from the beginning
makes that transition to production
easier and we have great support from
right across the business the tool chain
we used for robo chat is largely the IBM
cloud DevOps tool chain but the great
thing about the IBM approach with its
DevOps tool chain is we can incorporate
existing parts of eubanks tool chain
into the IBM solution so we actually
have a hybrid tool chain that is
seamlessly integrated into the IBM cloud
platform one of the great features of
the Watson assistant tool is it's really
easy for our business to use so while
our developers have built the
orchestration layer for us the the
front-end toulon that and the chat bot
logic and answers are all built in a
very easy to use fashion and in fact
it's our business analysts that review
the logs and make the changes themselves
to the chat bot rather than needing to
involve the development team so we've
found customers pretty happy to engage
with Robo chat from the moment that it
launched we've been really transparent
to our customers about the fact they're
talking to a chat bot and that that chat
pod is in beta four out of five
customers are happy to engage with Robo
chat or over chats answered over 20,000
questions and
now getting the answer right more than
80 percent of the time on the first
attempt and lastly from a business
perspective we are seeing significant
uplift in conversion rates for those
customers that engage with robo chat in
fact we're seeing about a 15 percent
uplift for customers that engage with
robo chat
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