Pensiones Banorte

Success Story

Pensiones Banorte Enhances Customer Service with 300% Increase in Customer Queries through WhatsApp and Virtual Assistant

of monthly services are handled by the virtual assistant
automated credit application and management via WhatsApp
customer satisfaction rate

Challenges and Goals

Navigating Customer Expectations: Empowering Choice in Modern Banking Customer Service

Banorte stands out as a leading financial institution in Mexico, holding the position as the country’s third-largest asset holder. Pensiones Banorte, the division specializing in pension payments, is at the forefront of reshaping best practices in pension management.

In the challenging landscape of an older demographic sector, where the main goal is not just acquiring new customers but achieving excellence in meeting member expectations in customer service and introducing new services to a captive segment, Pensiones Banorte is reshaping the digital experience for retirees.

The company’s primary objective is to offer tailor-made solutions that not only simplify processes but also elevate customer satisfaction. To make this happen, Pensiones Banorte has embraced Engageware’s AI-driven Virtual Assistant.

This innovative approach allows for seamless and instant resolution of customer queries, regardless of the customer’s preferred communication channel—be it WhatsApp, online chat, or the mobile app. Now retirees have a choice and can effortlessly manage their pension payments at their fingertips.

By placing a high value on customer convenience and satisfaction, Pensiones Banorte is not just managing pensions; they are setting the gold standard for a more efficient and user-friendly experience for retirees. 

The Solution

Innovating in Customer Service through AI Virtual Assistant

Pensiones Banorte embarked on a transformative journey to elevate customer service, with a specific focus on the needs of their older customer base. Understanding what is important to its customers – the desire for autonomy in a familiar and comfortable channel.

The integration of Engageware’s Virtual Assistant has proven pivotal to the bank’s successful customer service strategy, guaranteeing 24/7/365 customer support.

This user-centered vision has led Pensiones Banorte on a successful path in its digital transformation.

Preferred Customer Channel: WhatsApp, the Shining Star of Exceptional Customer Service

The key to improving the customer experience has been providing personalized assistance 24/7 on a reliable channel, such as WhatsApp, strategically chosen for its familiarity and convenience.

The virtual assistant seamlessly integrates with core banking systems, enabling customers to engage effortlessly, addressing questions, and accessing their account information.

Its AI capabilities extend to understanding the intent behind customer queries, ensuring instant resolution whether customers type or send an audio message.

Andrés Gallegos Garza, Subdirector of Alternative Channels at Pensiones Banorte, highlights the key role of the virtual assistant on WhatsApp in driving their strategy.

He emphasizes the importance of providing a service that surpasses technological challenges.

Credit Application on WhatsApp: A Game-Changer in Digital Banking Offerings

In the retiree demographic sector, where the primary objective is to enhance digital adoption of service channels and introduce new offerings to a captive audience, Pensiones Banorte achieves a significant breakthrough with the introduction of the Credit Application feature on WhatsApp.

This integration enables a 100% automated credit application within the WhatsApp virtual assistant. The innovative feature, enabling the offering of credits to their customer base without the need for human agent interaction, has emerged as a pivotal component in Pensiones Banorte’s strategic approach to expanding its product offerings.

In just the first month of its implementation in August 2023, the Credit Application feature generated over $2 million in revenue, establishing a solid path towards consistent placements.

Reflecting the success of this approach, it not only aligns with the goal of enhancing digital engagement but also ensures retirees have a simplified and hassle-free experience when applying and managing their credits.

Strategic Banking Functionality: Achieving Automated and Tailored Customer Support

The Pensiones Banorte virtual assistant not only answers queries automatically but also resolves and facilitates personalized customer support. Pensiones Banorte reshapes the customer experience by strategically selecting integrations that provide a complete experience, such as:

  • Balance Request
  • Credit Application
  • WhatsApp Campaigns
  • WhatsApp IVR
  • Document Sending
  • Payment Dates
  • Satisfaction Survey
  • Connect With An Agent
  • Transaction Summary
  • Account Changes
  • Voice Authentication

Integrations such as voice authentication, credit application and renewal not only streamline processes but also support a proactive approach, consolidating a comprehensive system for a 360-degree customer experience. This strategy transforms the customer experience while also positively impacting operational efficiency, marking a milestone in operations.

Enhancing Security in Digital Banking: Voice Authentication

To ensure security and provide customized experiences, Pensiones Banorte has implemented a voice identity authentication method, which allows secure, personalized interactions through WhatsApp.

The process is simple: the customer sends a sends a voice message with a particular phrase, and thanks to voice biometrics technology, the bot allows for personalized service to continue.

Banorte voice authentication is considered the highest level of security (level 4) in digital channels, precisely and securely validating a person’s identity. Thus, Pensiones Banorte not only ensures the security of its customers but also provides a more comfortable, efficient, and innovative experience in managing their banking transactions.

The Results

Pensiones Banorte Elevates Customer Service and Satisfaction to New Heights

Building upon its reputation as a trailblazer in digital transformation, Pensiones Banorte’s implementation of automated service with the virtual assistant via WhatsApp channel, has yielded outstanding outcomes, confirming the positive effect of the bank on the digital adoption.

Key milestones include:

  • Exceptional Kickoff: Within four months, WhatsApp sessions with the virtual assistant increased by 200%, and after one year, consultations and transactional processes grew by an impressive 670%.
  • Growth Over Time: Between 2021 and 2022, there was an extraordinary 300% increase in WhatsApp sessions, with consistent member interaction and engagement to this date.
  • Enhancing Customer Engagement and Satisfaction: In 2023, there was a 46% increase in customer interactions through digital channels, with customer satisfaction reaching 80%.
  • International Recognition: Meta recognizes Pensiones Banorte’s initiative in the digitalization of pension services, highlighting the bank’s dedication to digital transformation and international acclaim.
  • Improving User Experience: The introduction of a revamped menu and updated content elevated the user’s visual experience, resulting in improved customer satisfaction. Notably, these efforts led to a substantial 20% increase in call-to-action activation rates, surpassing other bank channels.

These achievements demonstrate Pensiones Banorte’s adaptability and growth, delivering efficient and satisfying services to its customers.

About Pensiones Banorte
Pensiones Banorte is dedicated to the management of pension payments derived from the Social Security Laws IMSS or ISSSTE, which protect workers in the event of permanent disability, disability, retirement, severance in advanced age, old age, or death.

In addition to ensuring compliance with these laws, Pensiones Banorte focuses on providing its customers with the best service and benefit alternatives to enjoy a safe and reliable pension.

The financial institution strives to offer personalized and efficient solutions that meet the needs of its customers and allow them to enjoy their pensions in a calm and comfortable way.

Pensiones Banorte is a customer of Aivo, an Engageware company, leveraging solutions across Latin America.

Suggested Success Stories