How CityTrust Bank Handles 3x More Inquiries with Chatref
3x
Inquiry Capacity
77%
Automated
$94k
Monthly Savings
Overview
CityTrust Bank, a regional bank serving 250,000 customers through forty branches, struggled with call center volumes and limited digital support options. With sixty-five customer service representatives handling inquiries about accounts, transactions, loans, and fraud alerts, wait times reached twenty-two minutes during peak banking hours. After implementing Chatref's banking chatbot with robust security features, CityTrust now handles seventy-seven percent of customer inquiries automatically, tripled inquiry capacity without adding staff, achieved eighty-nine percent satisfaction, and saves ninety-four thousand dollars monthly while maintaining strict security standards.
The Challenge
Customers needed instant help with account balances, transaction history, card activation, fraud alerts, and loan status but faced long phone wait times. Mobile and online banking users had no immediate support option, leading to frustration and branch visits for simple questions. Security requirements made automation challenging as any solution needed bank-grade encryption and fraud detection. Customers expected twenty-four hour service for urgent issues like lost cards or suspicious transactions. CityTrust needed a secure intelligent assistant that could access account information safely, handle sensitive banking questions, detect fraud patterns, operate around the clock, and scale during high-volume periods without compromising security or adding call center staff.
The Solution
CityTrust selected Chatref after rigorous security audits and a three-month pilot demonstrated both excellent customer experience and bank-grade security. The chatbot integrates securely with core banking systems, uses multi-factor authentication, and monitors for fraud patterns. Training involved security teams, compliance officers, and customer service: teams uploaded banking policies, product information, security procedures, and thousands of anonymized customer interactions. Within ten weeks the bot launched on their mobile app, website, and SMS channel, answering questions about accounts, transactions, and products while routing complex issues to specialists and flagging potential fraud for immediate investigation.
Implementation & Key Benefits
Benefit #1: Secure 24/7 Account Access
Chatref provides instant account information, transaction history, and balance inquiries after secure authentication. Customers get answers in seconds instead of waiting on hold, and after-hours account inquiries increased three hundred percent as customers appreciate convenient access. The bot handles seventy-seven percent of account inquiries without human help, dramatically reducing call volumes and wait times.
Benefit #2: Intelligent Fraud Detection
The chatbot recognizes unusual inquiry patterns and suspicious requests, flagging potential fraud for immediate investigation. Fraud detection improved forty-six percent through AI pattern recognition, protecting customers and the bank. Customers also report suspected fraud through the bot, getting instant card locks and replacement initiation, reducing fraud losses substantially.
Benefit #3: Loan and Product Guidance
The bot helps customers understand loan products, estimate mortgage payments, and apply for credit cards with personalized recommendations. Loan applications through the bot increased fifty-nine percent, and product cross-sell improved forty-two percent as customers discovered relevant services. Customer satisfaction with product information reached ninety-one percent.
Results & ROI
Inquiry capacity tripled without adding call center staff, enabling CityTrust to serve more customers better. Customer satisfaction rose to eighty-nine percent from seventy-three percent. Automating routine inquiries saves ninety-four thousand dollars monthly, paying for Chatref in five weeks. Fraud detection improved forty-six percent, protecting customers and reducing losses.
"Chatref transformed our customer service while maintaining the security standards banking demands. Customers love instant access to their accounts, and we're serving three times more inquiries."
Robert Jackson
SVP of Customer Experience, CityTrust Bank
Key Takeaways
CityTrust Bank demonstrates how financial institutions can use AI chatbots to scale customer service, improve fraud detection, and enhance satisfaction—without compromising security. Chatref's banking expertise and security features make customer service automation accessible for any bank ready to modernize digital banking experiences.