Better bots help Live Oak better serve SMBs
Freshservice helps the digital bank to move employee support from time-consuming email to quick and easy self-service
You don’t get to be a leading SBA 7(a) lender to small businesses without great customer experience. For Live Oak Bank, an email-based ticketing system was slow and uncoordinated, creating inefficiencies and requiring effort that turned into lackluster customer service. So the end-user computing team looked to upgrade to a ticketing tool that would give internal teams easy access to relevant and current information, speeding up momentum.
The first move was to ServiceNow’s platform, which was complex, wasn’t friendly to end users, and required an implementation team to get started. Live Oak didn’t need all of its features, making it unnecessarily complex and driving up the overall cost of the platform.
Freshworks’ AI solution was just what Live Oak was looking for: intuitive and user-friendly, easy to maintain, and cost-efficient. “We love this tool,” says Whitney Mitchell, director of end-user computing and A/V at Live Oak Bank.
The bank quickly spun up a self-service portal with Servicebot, a friendly virtual agent that uses natural language processing and machine learning to provide self-service conversational support through Teams and Slack integrations.
Implementing Freshservice and moving those tickets to its self-service portal have been “a big measure of success” for the bank, says Mitchell. As many as 90% of the tickets are now received through the portal.
“It’s mind-blowing,” she says.
Now, Live Oak Bank is able to deliver customer service to thousands of small business customers across the U.S. more quickly and easily—with a little help from technology.
