CaixaBank is deploying AI as a ‘cognitive assistant’ to personalize the bank’s services and streamline back-end processes. 

The $678 billion CaixaBank developed its own AI-driven assistant that can process direct debit refunds to eliminate the labor-intensive manual task, a spokesperson for the Madrid, Spain-based bank told Bank Automation News.

“When it comes to using AI to improve efficiency, technology enables both the analysis of large volumes of data and the automation of low value-added tasks,” they said.  

AI personalization 

CaixaBank has nearly 360,000 accounts for customers aged 65 and older. The new digital assistant provides personalized services to these customers, with the being AI used to identify senior callers and then automatically route their calls to a “specialized advisor instead of being routed to the general processing system,” the spokesperson told BAN. 

The bank has 1,619 managers deployed to support its senior customers, according to the bank’s third-quarter earnings report.  

“When it comes to using AI to improve efficiency, technology enables both the analysis of large volumes of data and the automation of low value-added tasks,” the spokesperson said. 

Back in 2018, the bank had launched a digital assistant, which gained AI capabilities over time and can now respond to written or spoken customer queries on the following topics:  

• Card blocking; 
• Money transfer; 
• Monitoring bills, deposits and expenses; and  
• Making appointments to meet advisors at a branch. 

That chatbot solves one-third of customer inquiries and fields close to 500,000 questions per day for more than 4 million customers, according to a November 2022 release.

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