Case Study: SpareBank 1 SR‑Bank achieves automated mortgage payment deferments and scaled customer service with boost.ai

Using conversational AI to automate mortgage payment deferment for customers impacted by COVID-19

SpareBank1 SR-Bank faced a sudden surge in customer service demand when COVID‑19 left many customers furloughed or unemployed and worried about meeting mortgage payments. To handle high volumes and provide fast relief, the bank used boost.ai’s conversational AI platform and its virtual agent to offer an alternative channel for customers to request mortgage payment deferments of up to 12 months.

Using boost.ai’s virtual agent integrated with Robotic Process Automation, SpareBank1 SR-Bank built and launched an end-to-end deferment flow in three weeks that let customers apply and get immediate decisions without speaking to an agent. The solution automated 42% of the bank’s customer service traffic, increased support capacity by 175%, handled up to 300 deferment inquiries per day, and removed barriers such as the usual NOK 750 fee, significantly reducing contact center load and speeding customer relief.

SpareBank1 SR-Bank

Ramtin Matin

Lead Technological Strategist