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A leading bank who puts customers first, starting with conversations

Rentenbank wants to ensure their clients feel confident in effortlessly navigating a complex service landscape. They should also experience a seamless handover to a live agent whenever necessary.

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Key Highlights

90%

User intents understood

500+

Subject areas covered by Conversational AI

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Dr. Marc Kaninke

Chief Financial and IT Officer @Rentenbank

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Cognigy.AI’s low-code platform is the ideal solution. We don't need extensive programming knowledge to operate and to further develop the technology. The implementation was fast, allowing us to focus on an elaborate phone bot that would be available quickly for our customers.

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About Rentenbank

Landwirtschaftliche Rentenbank is Germany’s development agency for agribusiness and rural areas.

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Fast Facts

Total assets 2021: EUR 95B+ 
Founded: 1949
Headquartered in Frankfurt, Germany

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Use Case

Phase 1: A webchat that answers questions around a federal program that promotes investments of German farmers, and helps applicants and job seekers


Phase 2: A phone bot to support the service agents and broaden the service-level

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Results

Excellent customer ratings

90% of user intents understood

Enhanced customer service

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The Rentenbank’s CFO & CIO shares how Conversational AI is improving customer service and supporting service agents.

The Challenge

Rentenbank is a triple-A-rated development agency for agribusiness and rural areas providing its loans to ultimate borrowers via local banks. The bank attaches particular importance to the promotion of sustainability and innovation.

In 2020, a program that entails a grant combined with a low-interest promotional loan from Rentenbank was implemented in cooperation with the government.  For this purpose, Rentenbank had to provide its customers with complex information and to rethink its form of advice.

No request should get lost, and customers should not struggle to navigate the bureaucracy, red tape, and information jungle.

Rentenbank farmer and finance consultant

The Solution

It all started with a creative mindset and out-of-the-box thinking. The idea was to initiate a digital transformation, and the IT department soon solved the challenge with Conversational AI.

What previously existed as massive pdf files containing hard-to-find information resulted in a 24/7 available digital agent called Lara, who could easily answer questions and provide all the necessary information to support new customers.

This, however, was only the beginning of the quest to craft a better client experience. As the phone remains the most intuitive form of communication, Rentenbank develops a phone bot to unburden the contact center and to make access to information even more straightforward and natural.

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The Impact

The Conversational AI solution is loved by everyone. Customers give it excellent ratings and it is a proof point of digital transformation within Rentenbank. Lara is constantly improving, with every 4th request resulting in her learning something new. Currently, she has already conducted thousands of successful dialogues and the bank is just starting to explore all the potentials of Conversational AI.

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Extended Service Offering

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Excellent Chat Ratings

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Service Agent Support

Cognigy Live Agent is something that ultimately persuaded me of its success. It is the foundation for customer-centric communication. Whenever the bot no longer knows what to do, or the customer has a need to communicate directly with a real person, we can make use of this hybrid solution.

Dr. Marc Kaninke
Chief Financial and IT Officer @Rentenbank

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