Genesys Awards Kiwibank as Winner of CX Innovator Award

Largest New Zealand-owned bank recognized for digitizing and transforming the customer experience with Genesys Cloud AI

DENVER--(BUSINESS WIRE)--Genesys^®, a global cloud leader in AI-powered experience orchestration, announced Kiwibank as the winner of the Customer Experience (CX) Innovator (SMB and Mid-Market) category during its 19th annual Customer Innovation Awards. The CX Innovator award specifically is given to organizations that are pushing the limits to deliver smarter and more cohesive customer and employee experiences with Genesys Cloud AI.

Kiwibank, the largest New Zealand-owned bank, is committed to providing the best digital experiences to its more than one million customers while ensuring the security of its online banking services.

Already achieving results with the Genesy Cloud™ platform, Kiwibank saw an opportunity to partner further with Genesys to modernize its use of voicebots. The bank’s existing bot had been designed almost a decade ago by a third-party provider — with minimal redesigns throughout the years. Additionally, it was overly complicated with more than 1,000 unique intents, making it challenging to manage journeys and route customer inquiries correctly the first time.

By implementing Genesys Cloud AI capabilities, with the support of telecommunications partner Spark NZ, Kiwibank is improving digital and voice-based self-service to provide a more in-depth and holistic experience, resulting in:

Improved operational efficiencies: Kiwibank implemented the Genesys voicebot within four months and has already seen an impressive 28% reduction in abandonment rates, a 19% reduction in average handling time (AHT) and a 27% decrease in transfer rates. Through this effective implementation, Kiwibank can address customer inquiries faster with its voicebot solution and seamlessly route to the most suitable agent when issues require a human touch.

Simplified customer journey: By harnessing Genesys voicebot capabilities, Kiwibank has enabled customers to resolve most of their needs via self-service, enabling faster and more accurate issue resolution. This has led to a 98% reduction in the amount of customer intents that live agents need to support.

Elevated customer experiences: The implementation of the Kiwibank intent bot has been a game-changer for the company, including a significant 3-point improvement in its overall customer satisfaction score — a testament to the effectiveness of using Genesys Cloud AI. In addition, Kiwibank saw a 4-point increase in its ability to successfully direct customers to the right agent and a 3-point uptick in delivering quick decisions for customer queries.

“Our Ngā Kauwaka, or Kiwibank culture, includes me māia, rising to the challenge, and ngā kiritaki, having our customers at heart,” said Steve O'Shea, head of customer engagement hub – Northern at Kiwibank. “The recent Genesys bot implementation really epitomizes both — rising to the challenge of ensuring our customers are at the heart of all our conversations. By providing a consistent approach to our customer interactions, not only are we enabling our people, but our customers feel valued and confident their finances and personal information are safe and secure.”

The Customer Innovation Awards recognizes organizations for transforming their customer and employee experiences with AI, cloud and digital technologies across all industries. Kiwibank accepted its CX Innovator award at Xperience 2024 in Denver.

To watch select Xperience keynotes on-demand, visit the Xperience Encore event beginning May 27.

About Genesys

Genesys empowers more than 8,000 organizations in over 100 countries to improve loyalty and business outcomes by creating the best experiences for customers and employees. Through Genesys Cloud, the #1 AI-powered experience orchestration platform, Genesys delivers the future of CX to organizations of all sizes so they can provide empathetic, personalized experience at scale. As the trusted, all-in-one platform born in the cloud, Genesys Cloud accelerates growth for organizations by enabling them to differentiate with the right customer experience at the right time, while driving stronger workforce engagement, efficiency and operational improvements.