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Ada empowers Moka to make strategic decisions about company growth

Moka is a direct-to-consumer FinTech 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.

Experiencing growing pains

Since launching in 2017, the Moka app has been downloaded over 1M times, with thousands of 5-star reviews, and has helped its customers invest responsibly, reduce expenses, and accelerate debt repayment.

To keep up with the rapid growth, this young brand needed to scale its customer support. They were already using some support functionalities that lived within their CRM ecosystem, but they didn’t have robust features that offered great CX at scale.

Cloe Tetreault-Tremblay, Moka’s Head of Customer Success, had a decision to make: either scaling the support team at the same pace as their user base, or automating some part of their CX to free precious hours of work for support agents.

Before Ada:

  • High volume of messages during billing periods
  • General inquiries taking up valuable support staff bandwidth

An automation-first solution

Since Moka is founded on AI and data-driven principles, a partnership with Ada was written in the stars. In collaboration with their Automated Customer Experience (ACX) Consultant at Ada, Moka launched their conversational AI chatbot in 5 weeks.

Moka positioned the chatbot at the top of the support funnel, offering both self-serve and routing options for visitors. They used APIs to automate Intercom ticket submission directly from within the bot, creating a better CX experience. They’re also going to leverage the bot for segmentation and personalization as they move towards new markets.

A few short months after launching their bot, they witnessed a 41% containment rate.

“Ada has freed some precious hours of our agents' time, who can now focus on more complex cases and deliver the best support experience possible to our users.”

Cloe Tetreault-Tremblay
Head of Customer Success

A bot that learns from the best

The Customer Success department is at the frontline of Moka, handling the onboarding of new users, general inquiries, bugs, account closures, and any other request that might arise throughout the customer journey. As Cloe puts it, “My team is the eyes, ears, and voice of our users."

Leaning on this expertise, Ada’s ACX Consultant worked closely with the Customer Success team to identify the most frequent and most valuable customer interactions, and built that into their chatbot. This wealth of knowledge combined with our conversational AI resulted in a 95% recognition rate, meaning the bot is successfully able to understand 95% of interactions, regardless of phrasing or typos.

“My team is the eyes, ears, and voice of our users."

Cloe Tetreault-Tremblay
Head of Customer Success

Support that scales exponentially

One of Moka’s biggest challenges was that support agents were spending too much time answering general FAQs. Launching an automation-first CX strategy with Ada allowed Moka’s customers to instantly self-serve 24/7. Despite the fact that ticket volumes continue to rise, and no new support agents have joined the team, the average number of tickets being handled by agents hasn’t increased.

At the same time, customer cases that needed more complex problem-solving were seamlessly escalated to a Moka live chat agent, including a chat transcript and relevant customer details. This has made the tickets easier to resolve since the bot has done the due diligence before the ticket gets handed off.

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.

Strategic team growth

Now that the chatbot was supporting the CX team’s workload, Cloe was in a position to rethink her team’s growth, and make strategic decisions instead of urgent ones. The Customer Success team hired a new role for an agent in charge of monitoring their bot and improving its performance.

With this role in place, Moka can ensure that they are constantly optimizing their CX strategy and offering their customers valuable brand interactions, no matter how quickly their business continues to grow.

Ready to collect the dividends of self-serve banking automation?

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