Download PDF
Ada > Case Studies > Ada's AI Solution Empowers Moka's Strategic Growth
Ada Logo

Ada's AI Solution Empowers Moka's Strategic Growth

Use Cases
  • Chatbots
  • Speech Recognition
The Challenge

Moka, a direct-to-consumer FinTech company, was experiencing rapid growth since its launch in 2017. The Moka app had been downloaded over 1 million times and had thousands of 5-star reviews. However, with this growth came the challenge of scaling its customer support. Moka was already using some support functionalities within their CRM ecosystem, but these did not offer robust features that could provide excellent customer experience at scale. The company faced a high volume of messages during billing periods and general inquiries that consumed valuable support staff bandwidth. Moka’s Head of Customer Success, Cloe Tetreault-Tremblay, was faced with the decision of either scaling the support team at the same pace as their user base or automating some part of their customer experience to free up valuable work hours for support agents.

About The Customer

Moka is a direct-to-consumer FinTech company on a mission to empower Canadians to achieve their financial goals. Through automated investing, smart saving plans, and valuable rewards, Moka has made it possible for Canadian millennials to take control of their finances without needing in-depth financial knowledge or making big lifestyle changes. Since its launch in 2017, the Moka app has been downloaded over 1 million times, has thousands of 5-star reviews, and has helped its customers invest responsibly, reduce expenses, and accelerate debt repayment.

The Solution

Moka decided to partner with Ada, a company specializing in AI and data-driven solutions. Together, they launched a conversational AI chatbot in just 5 weeks. The chatbot was positioned at the top of the support funnel, offering both self-serve and routing options for visitors. APIs were used to automate Intercom ticket submission directly from within the bot, creating a better customer experience. The bot was also leveraged for segmentation and personalization as Moka moved towards new markets. Ada’s Automated Customer Experience (ACX) Consultant worked closely with Moka's Customer Success team to identify the most frequent and most valuable customer interactions, and built that into their chatbot. This resulted in a 95% recognition rate, meaning the bot was successfully able to understand 95% of interactions, regardless of phrasing or typos.

Operational Impact

  • The implementation of Ada's AI chatbot solution resulted in significant operational improvements for Moka. One of the major challenges Moka faced was that support agents were spending too much time answering general FAQs. With the automation-first customer experience strategy, Moka’s customers were able to instantly self-serve 24/7. Despite rising ticket volumes, the average number of tickets being handled by agents did not increase. More complex customer cases were seamlessly escalated to a Moka live chat agent, including a chat transcript and relevant customer details, making the tickets easier to resolve. As a result, over 41% of conversations are now fully contained within the bot, freeing up support agents and shortening wait times for high-value customers. The success of the chatbot also allowed Moka to rethink its team’s growth and make strategic decisions.

Quantitative Benefit

  • 75% customer engagement rate

  • 45% of interactions resolved by Ada

  • 95% query recognition rate by the chatbot

Related Case Studies.

Case Study
HSBC's Transition to Conversational Banking through Intelligent Automation
HSBC, one of the world's largest banking and financial services organizations, was facing a challenge with its customer service operations. With over 19,000 customer service agents, the bank was dealing with a high volume of repetitive tasks that put pressure on its agents. The traditional career path in the contact center world was also leading to inevitable attrition, as it was defined as agent → team manager → department manager → operations manager → head of contact centre. This lack of opportunity as the field narrows held back the chance of reaching the highest possible customer satisfaction with every interaction. Furthermore, HSBC was planning to shift towards Conversational Banking, which was expected to grow interactions considerably and require conversational experts to manage the chatbots.
Learn more
Case Study
Tronergy's Transition to Alibaba Cloud for Enhanced Scalability and Performance
Tronergy, a company that provides creative IT solutions to small and medium-sized businesses, faced a challenge with its clients who were accustomed to using traditional web hosting services. As these clients' projects evolved, they found it difficult to dynamically and automatically increase bandwidth or improve performance using traditional web hosting solutions. Additionally, these clients often required the integration of several other business solutions to quickly customize their projects, such as adding text messaging (SMS), optical character recognition (OCR), email push, and chatbot features. Building a new solution from scratch was not a viable option due to the high time and cost implications.
Learn more
Case Study
7-Eleven Philippines Enhances Customer Support with Freshdesk
7-Eleven Philippines, a pioneer of 24-hour convenience stores in the country, was facing challenges with its customer support system. The customer support was outsourced to an external vendor, which resulted in limited visibility into customer query patterns and performance metrics. The company had no transparency into the vendor's analytics and could not validate their reports. They also had no visibility into the volume of calls, number of abandoned calls, etc. due to the use of the vendor’s telephony solution. This lack of control and visibility into customer support led the team to decide to bring the entire function in-house. They began exploring helpdesk solutions that would enable them to build a strong in-house support team.
Learn more
Case Study
MISA's Success in Achieving 50% Query Deflection Rate with Freshdesk
MISA, an online fashion retailer, faced a significant challenge in managing customer support and communication during the COVID-19 pandemic. The shift in consumer behavior towards online shopping led to an explosive growth in digital footfall, increasing MISA’s average number of orders from 30-50 a day to about 70-100 a day. This surge in orders resulted in higher support volumes, with customers frequently enquiring about their orders and delivery status. The team struggled to prioritize issues as their existing email systems ordered conversations based on the latest response rather than the urgency of the queries. Additionally, the shift to remote work due to the pandemic raised concerns about effective team collaboration and communication. MISA also faced the challenge of dealing with repetitive customer queries, which were time-consuming and redundant.
Learn more
© 2015-2024 IoT ONE Limited | Privacy Policy

Contact us

Let's talk!

* Required
* Required
* Required
* Invalid email address
By submitting this form, you agree that IoT ONE may contact you with insights and marketing messaging.
No thanks, I don't want to receive any marketing emails from IoT ONE.
Submit

Thank you for your message!
We will contact you soon.