Tech Mahindra and Verint enhance Bank of Baroda’s customer experience with AI-powered solutions

Tech Mahindra has partnered with Verint to improve the customer experience at Bank of Baroda. This collaboration is aimed at addressing the bank's challenges in customer engagement and operational efficiency.

Tech Mahindra has worked with Bank of Baroda for several years, focusing on managing the bank's customer experience across various products and services. The bank sought to enhance its customer experience processes, improve operational efficiency, and leverage artificial intelligence-driven insights to better understand customer interactions. In addition, the bank plans to explore opportunities for cross-selling and upselling its services.

Birendra Sen, President — Business Process Services, Tech Mahindra, said, “As a partner, our role is to manage the bank's end-to-end customer experience across various product and service lines.”

The customer experience management traditionally relied on manual assessments of customer interactions, which was labour-intensive and slow, particularly with large data volumes. To optimize this process, Tech Mahindra and Verint introduced Verint’s automated quality management and speech analytics solutions. This integration streamlines transaction monitoring and insight generation, enabling the bank to enhance its customer service.

The main objectives of the collaboration were to personalize customer interactions, optimize resource use, and enhance the overall customer experience. Tech Mahindra partnered closely with the bank to align strategies with these goals. The team set baseline performance metrics and tracked improvements after implementation.

A major accomplishment was the capability to analyse 100% of customer interactions, increasing monitoring coverage from only 5-10% to full inclusion. This near real-time processing enables the bank to make informed operational decisions based on the latest interactions, resulting in improved identification of product performance and process gaps.

“We focused on two main solutions that fit the goals: real-time speech analytics from Verint and automated quality management. The bank was facing challenges related to operational efficiency across their inbound and outbound channels. They wanted to reduce average handle times, minimise call transfers, and manage channel deflections more effectively. Additionally, they aimed to reduce non-value-added calls that took up agents' time,” said Anil Chawla, India MD, Verint.