Contact Center Solutions Featured Article

Israeli Bank Invests in Visual IVR

October 19, 2017

Israel’s Bank Leumi has deployed the CallVU visual IVR and agent-customer collaboration platform. It’s enabling the bank to direct more activity to digital channels, increase first call resolution, shorten service call duration, streamline back office operations, and realize other benefits.

“CallVU’s platform expands self-service with mobile digital engagement based on visual IVR, collaboration, and service BOTs,” the supplier explains. “Once a service call is made, CallVU diverts it to digital self-service so customers can quickly and easily resolve issues without waiting on the phone for an agent.”

The company says that enables organizations to get the most value out of such digital assets as existing mobile and website apps. Because it lets businesses serve them to callers during live calls. CallVU adds that can create new revenue streams, reduce costs, and enhance both customer experience and the organization's digital brand.

CallVU is a seven-year-old customer engagement company. It has operations in Boston, London, Silicon Valley, and Tel Aviv, Israel. The company earlier this month published a blog presenting its visual IVR survey results. The key takeaway was that consumers would use visual IVR if given the option.

Bank Leumi holds about 30 percent of the banking services marketshare in Israel.  The 115-year-old financial institution also has operations in China, the United Kingdom, and the United States.

“IVRs have for many decades been cloud-based as they were particularly effective at determining where a call should be routed,” Gartner said in its February 2017 market guide for communications platform as a service. “As interaction options have increased, these solutions have added services such as SMS, interactive message response, speech recognition and speaker verification. The logic of these applications has also evolved from basic menu and information delivery services to advanced interactive services that use natural-language recognition.”

Gartner expects the global CPaaS market to grow by 50 percent through 2021 to reach $4.6 billion in annual revenue.

Edited by Mandi Nowitz