Case Study: Fairstone achieves 10% more loan bookings with Cognigy AI Agents

Fairstone increases loan bookings by 10% with Cognigy

Fairstone, a leading Canadian financial institution, faced challenges with inconsistent customer follow-up practices across its 250+ branches, which limited revenue potential and led to declining loan book rates. To achieve consistent growth, Fairstone partnered with vendor Cognigy to implement its Proactive AI Agent service to manage these dynamic customer interactions.

Cognigy deployed a sophisticated multichannel engagement strategy using its AI Agents to conduct personalized, proactive digital conversations over a two-week period. This solution resulted in a 65% response rate, with 90% of those respondents booking appointments. Fairstone achieved a 10% increase in loans booked, surpassing its goal and driving millions in new revenue, solidifying Cognigy's role in their success.

Fairstone