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  • 7 August 2018 17:00

Bankwest and LivePerson partner to launch conversational banking service

Customers text the bank like they text their friends, over the web and in the bank’s app

Sydney, Australia, 7 August 2018 – LivePerson, Inc., (Nasdaq: LPSN) a leading provider of conversational commerce solutions, and Bankwest, a subsidiary of Commonwealth Bank, have created a new conversational banking experience that enables bank customers to message the bank for service over the bank’s website and app. The experience works just like popular consumer messaging services, providing a hassle-free way for customers to get service from the bank. Conversation history is available and in sync whether a customer logs in on the bank’s website or app. Customers can start a conversation from their computer and pick it back up on their phone or vice versa. Push notifications and history allow customers to continue conversations on their own time.

Following the introduction of Bankwest’s web messaging last month, the bank saw a 9 per cent jump in customer satisfaction (CSAT). Bankwest expects the additional in-app messaging feature, which is available now to all Bankwest customers anytime or day, to further improve CSAT.

Bankwest’s General Manager – Contact Centres, Max Clarke, said: “Consumers prefer messaging their friends and family because of the convenience to go about their day while they have a conversation. We partnered with LivePerson to bring that same delightful experience to banking. It’s like putting the power and expertise from our branch offices right inside a customer’s pocket. It’s an amazingly simple experience. LivePerson brings together the enabling technology and operations capabilities.”

Bankwest’s conversational banking experience was created and is managed with LivePerson’s LiveEngage platform. LiveEngage enables a brand to provide sales and customer care over popular consumer messaging services and voice assistants, along with the brand’s apps, websites, and phone systems. LiveEngage brings together the AI and automations necessary to operate the experience at scale, plus the supporting backend integrations to offer capabilities such as balance inquiries and loan applications. A workspace for customer care and sales representatives is provided to monitor and support the experience where automation does not.

Bankwest offers a wide range of services and offerings, including checking and savings accounts, credit cards, investments, and loans. As such, it is crucial for the bank’s representatives to be accessible across the desktop web and mobile devices to address customers’ questions without them having to repeat their issue or wait on hold.

Bankwest reports the conversational banking experience has reduced costs and increased productivity. Customer service representatives are able to more accurately and comprehensively respond to customer inquiries, delighting the customer and saving time for both the representative and customer. Inquiries that require investigation can be conducted without a customer having to stay on hold over the phone. Retention rates for Bankwest’s customer care representatives are up since conversational banking’s introduction.

Andrew Cannington, LivePerson’s General Manager, APAC, said: “We’re proud to partner with Bankwest on conversational banking. Consumers consistently rank a conversational experience with brands as more satisfying than traditional modes of communication such as phone calls. Asia Pacific leads the world in mobile usage, and the experience we have created with Bankwest is a great example of the innovation that is possible here.”

The Bankwest app is available for iOS and Android phone devices. Its in-app messaging feature is available now for all Bankwest customers.

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About LivePerson:
LivePerson makes life easier by transforming how people communicate with brands. Our 18,000 customers, including leading brands like Qantas, Foxtel and Bupa, use our conversational commerce solutions to orchestrate humans and AI, at scale, and create a convenient, deeply personal relationship — a conversational relationship — with their millions of consumers. For more information about LivePerson (NASDAQ: LPSN), please visit www.liveperson.com.

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