Services like banking and insurance play a critical role in our lives, and whatever the issue—whether you’re locked out of your account, disputing a charge, trying to find the right tax information or making a claim—you want to know you’re in the best hands. And that’s where AI agents can really help.
1. Finding exactly the right product or service
Choosing a credit card, mortgage, or investment account can be overwhelming. There’s so much information, so many choices, and everyone has different needs. An AI agent can simplify all that, quickly understanding a customer’s needs and helping to identify what’s right for them.
A leading U.S. mortgage lender built an agent on Sierra that pulls together all the key information for prospective borrowers—like their income, the purchase price of the property, and their credit—to manage the pre-qualification process. The agent then transfers the customer, along with all their details, to a licensed broker. This lightens the load on the prospective borrower, and enables the mortgage teams to focus on what they do best: finding the right product for that person so they can convert leads into applicants.
2. Taking the annoyance out of basic account management
Tasks like checking a balance, resetting a password, or updating an address shouldn’t take human help. Yet, so many financial institutions still transfer basic requests to call centers—forcing customers to hold on the line, and tying up valuable customer support resources. An AI agent can help solve these routine issues, taking less of their customers’ time and freeing up support teams to focus on higher value work.
A large fintech that offers online banking services built an agent on Sierra to help customers through voice, chat, and in-app messaging—with questions ranging from replacing lost cards to checking the status of a transaction. It’s so fast and empathetic that its NPS scores and resolution rates are higher than the live agent.
3. Getting to solutions faster
Billing issues—like disputed charges, missed payments, or unfamiliar fees—are a frequent source of frustration for customers. AI agents can handle these conversations quickly and with less effort by pulling transaction records, clarifying details, and now even initiating the dispute process.
A consumer fintech built an agent on Sierra to help its customers get to solutions much faster. For example, someone disputing a charge describes the situation to the AI agent, which then locates the relevant transaction, explains any fees, and, if needed, files a dispute.
4. Keeping the customers you have
Companies lose customers for lots of different reasons. But a thoughtful response to concerns can make all the difference between losing someone for good and restoring the relationship. AI agents can offer personalized options—such as adjusted rates, temporary holds, or upgraded services—to address common pain points.
A leading car insurance company built an agent on Sierra to reach out to customers who disable the autorenew option in their mobile app. By asking a few relevant questions, the agent uncovers what’s really of concern to that customer and can propose relevant adjustments or discounts. This approach has cut cancellations and increased overall satisfaction.
5. Responding quickly to suspected fraud
Getting a call about potential fraud can be stressful—and when customers are worried about their money, they want help fast. But for financial institutions, having a customer support agent call with every alert can overwhelm contact center teams, causing delays and frustration. AI agents can jump in right away, verifying identity, reviewing suspicious activity, and escalating when necessary.
One global payments provider built an agent on Sierra to handle outbound fraud calls. When potential fraud is detected, the AI agent reaches out immediately, confirms the cardholder’s identity, and helps determine whether the charge is legitimate. It’s fast, secure, and effective—giving customers peace of mind and freeing up fraud teams to focus on more complex investigations.
Build on Sierra
For decades, financial services companies have struggled with the trade-off between the cost and quality of their customer service. Sierra helps solve that trade-off—enabling companies to build better, more human customer experiences with AI.
Just one year since launch, our platform is already powering millions of conversations between the leading insurance and banking companies and their customers. Sierra combines the speed and innovation of a start-up with the expertise of an established enterprise, maintaining the highest industry standards of trust, safety, and compliance in this incredibly important industry.
Learn more about how to build on Sierra.
