Overview
Sirma has extensive experience in artificial intelligence applications. Following the disruptive launch of Large Language Models (LLMs), our team has been evolving the existing chatbots we currently have in use to enhance their functionalities, a transition that financial institutions urgently require. Their primary goal is to achieve greater customer engagement and user’s satisfaction. Our Conversational AI solutions leverage advanced NLP to create chatbots and voice bots that deliver personalized, proactive, and seamless customer experiences across multiple communication channels. By integrating AI-driven automation into customer service operations, Sirma helps financial organizations reduce operational costs, improve customer satisfaction, accelerate service delivery, and enhance lead generation.
A flagship example of our expertise is Sirma’s implementation with Postbank through the intelligent credit chatbot “EVA,” which showcases the real-world benefits our AI solutions can provide.
The Challenge
Financial institutions face increasing pressure to provide timely, personalized, and efficient customer service while managing rising operational costs and complex regulatory requirements. Traditional customer service models rely heavily on human agents, leading to inefficiencies, longer wait times, and inconsistent customer experiences. There is a critical need to automate routine interactions without sacrificing personalization or conversational quality. Additionally, the growing demand for omnichannel engagement - across online chat, mobile apps, and voice calls, requires scalable and secure AI solutions that can maintain high accuracy, compliance, and enterprise-level resource management.
The Project Scope
The scope of the project targeted the design, development, and deployment of an AI-powered Conversational platform tailored to the financial sector’s unique needs. Key objectives included:
- Building an LLM-based chatbot capable of understanding and processing complex customer queries related to credit products.
- Enabling 24/7 proactive interaction across multiple digital channels, including web chat, mobile applications, and social media platforms.
- Developing Interactive Voice Bots for both inbound and outbound calls, with speech recognition and synthesis to simulate natural human conversations.
- Ensuring high accuracy in intent recognition, data security, and compliance with banking regulations.
- Integrating the solution seamlessly into existing client IT infrastructures and business processes to enhance efficiency and support enhanced lead generation and collections efforts.
The Solution
Sirma developed an advanced Conversational AI platform focused on Large Language Models (LLMs) tailored for the financial sector. This solution integrates various AI technologies, including natural language understanding (NLU), dialogue management, and speech recognition, ensuring the security of sensitive customer data while optimizing resource use. In addition to text-based interactions, Sirma provides Interactive Voice Bots for both incoming and outgoing calls. These bots utilize advanced speech technologies to deliver human-like interactions and manage routine inquiries, allowing human agents to focus on more complex tasks. This approach enhances business efficiency, customer satisfaction, and improves marketing conversion and collection rates. The chatbot “EVA” exemplifies this technology, expertly guiding customers through credit inquiries and applications without human support. By implementing these solutions, Sirma helps clients automate repetitive tasks, reduce agent workloads, and offer a consistent, personalized, and user-friendly customer experience.
Results
The implementation of Sirma’s LLM-powered Conversational AI led to compelling business outcomes:
- Operational Efficiency: Significant reduction in call centre volume and operational costs due to automation of standard inquiries and application guidance.
- Improved Customer Satisfaction: Enhanced response times and 24/7 availability resulted in higher customer engagement and positive feedback.
- Faster Service Delivery: Customers received immediate assistance and faster processing of credit-related services.
- Increased Lead Generation: Personalized interactions identified customer needs and cross-sell opportunities, improving marketing conversion rates.
- Higher Collection Rates: Voice bots conducting proactive outreach contributed to improved collections performance.
Adopting LLM-powered chatbots in financial services enhances customer engagement and operational efficiency. These chatbots offer 24/7 personalized interactions, lowering costs and improving satisfaction with quick, accurate responses. They handle tasks such as credit inquiries and loan applications, freeing human agents to focus on more complex issues. Additionally, LLM chatbots support data-driven insights, fraud detection, compliance monitoring, and personalized financial advice, simplifying complex financial language and boosting customer financial literacy.
Technologies
The project leveraged a comprehensive technology stack combining state-of-the-art AI tools and frameworks:
- Large Language Models (LLMs) trained and fine-tuned for financial terminology and regulatory compliance.
- Natural Language Processing (NLP) and Understanding (NLU) frameworks for conversational context management.
- Speech-to-Text and Text-to-Speech engines with advanced acoustic modeling for natural voice synthesis.
- Secure APIs and integration layers enabling seamless connectivity with banking CRM and workflow systems.
- Scalable cloud-based infrastructure ensuring reliability, elasticity, and resource optimization.
Sirma’s Relationship with Client
Sirma’s collaboration with clients is rooted in deep partnership and a client-centric approach. We work closely with client teams throughout discovery, development, deployment, and continuous improvement phases. Our flexible methodology ensures alignment with evolving client needs and regulatory landscapes. Sirma supports long-term success and innovation, positioning our clients at the forefront of AI-driven customer engagement in the financial sector.
