First Citizens used AI to retain SVB customers
Retention effort involved using AI to monitor customer behaviour and sentiment – including profanities
Silicon Valley Bank suffered the fastest deposit run in history in March 2023. Its acquirer is using artificial intelligence to try and ensure history doesn’t repeat itself.
First Citizens Bank acquired SVB out of bankruptcy on March 27, 2023. After closing the deal, the bank realised that many of its newly acquired high-net-worth customers were still on edge.
“One of the key challenges that we had
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