Tata Mutual Fund achieves 58% growth in engagement using Haptik AI




Website & WhatsApp

Live Since

November, 2019

Product Used

Customer Care

“Haptik is a fantastically committed team. They truly understand their business and they go really deep to understand their customers’ issues. Combining human empathy with AI has been instrumental in bringing life to our IVA. As we add new customers every day, the IVA seamlessly handles 70% of query flow, helping us achieve incredible customer satisfaction rates, exceeding anything ever seen before.”

MVS Murthy, Head – Marketing & Digital, Tata Asset Management Ltd.



Support call deflection to IVA


End-to-end query resolution


Reduction in call center queries

About Tata Mutual Fund

Part of the Tata group, Tata Mutual Fund is the most trusted fund house in India offering a range of investment solutions for financial planning and wealth creation. With an investor base of over 1.9 million (as on 30th November 2019), the brand manages funds across the entire risk-return spectrum targeting investors of all ages and risk profiles. The core strength of the company stems from its intellectual capital and its robust risk management framework based on in-built controls and balances.

Challenge: Leveraging Technology to Create Exceptional Experiences

Most of the new investor profiles on Tata Mutual Fund (TMF) are digital-first Millenials that demand support and service on the go. With the world moving towards messaging, TMF saw an opportunity in deploying a Conversational AI solution for its brand. However, the challenge was finding a solution provider with in-depth knowledge about AI, extensive experience in the BFSI industry, combined with a team that delivers speed and scale.

TMF partnered with Haptik to build an efficient and cost-effective solution to help with:

  • Improving customer experience by providing faster resolution to routine queries

  • Minimize human intervention by reducing monthly calls by 70%

  • Reach customers on their preferred communication channels such as Messaging & WhatsApp

Solution: Bringing a Digital-First Approach to Customer Service

Step 1- Data analysis & identification of key use-cases: After reviewing TMF’s call center data and creating cohorts of standard queries, Haptik created a solution to handle queries related to account statement, Net Asset Value updates, portfolio valuations, how to buy funds online, SIP, purchase & redemption related queries, how to manage TMF account, and how to update contact details.

Step 2 – Implementation: The IVA solution was deployed on TMF’s Website and WhatsApp.

Step 3 – Saves agent hours: The IVA swiftly and seamlessly resolves predictable and repetitive queries, thereby freeing customer support agents to solve more high-value issues. Through API integrations, the IVA is linked to TMF’s backend systems ensuring effective dissemination of information for immediate follow-up and closure.

Step 4 – Improves user-engagement: The virtual assistant also guides investors with their queries using Haptik’s intelligent prompts and content flows.

Business Impact: Driving Customer Satisfaction using AI

Haptik’s IVA is significantly transforming TMF’s customer support strategy, resulting not only in reduced overall operational load but also increased customer satisfaction. However, most importantly, the IVA serves as a new engagement channel for investor support.

  • 40% support call deflection to IVA

  • 90% end-to-end query resolution by the IVA

  • 67% reduction in call center queries

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