PhonePe Automates 60 pc of its Queries to Serve 150 mn Customers
PhonePe Automates 60 pc of its Queries to Serve 150 mn Customers

PhonePe was formed with a mission to be a universal, seamless, and safe mobile payments ecosystem. It is India’s fastest-growing mobile payments app with 150 million users transacting with 6.5 million businesses.

The Anxiety of Financial Transactions

When it comes to payments and finances, customers are anxious and impatient when they encounter issues. Vishal Gupta, Head of Product at PhonePe, knew that delivering the best customer service was the only way to win customers for life.

The ambition of PhonePe is to serve the entire country with a wide range of income groups and transaction types. From buying groceries to investing in gold, customers transact with merchants across a range of service and transaction amounts. With the wide range of services on offer, Vishal wanted to provide consistent service across the board. Training agents on 1000+ SKUs and hiring them at speed was going to be a challenge. PhonePe decided to eliminate agent training as a variable in the customer experience and try to automate as many customer service inquiries as possible.

Massive scale is a factor behind every decision at PhonePe. The company processes 380 million transactions per month and volumes double every 3-5 months. Because of this, Vishal was looking for a customer service platform and partner that could scale with PhonePe’s rapid growth.

He also knew that only the best customer service partner would be up to the challenge. Vishal was on the lookout for a partner who echoed PhonePe’s customer-first ethos. He said, “Decisions at PhonePe are taken keeping in mind the consumers and what the right choice is for them. We are constantly trying to see where we can add value and enrich their existing relationship with us.” 

A Solution that’s on the Money

Vishal’s search ended with the Freshworks customer service platform, with its intuitive helpdesk and the AI-powered Freddy bot. 

  • With a majority of customer service queries coming on mobile, PhonePe has invested in live chat and chatbots alongside traditional channels like email and phone.
  • PhonePe started deploying chatbot to automate common service inquiries like “What’s my balance?”. They eventually went on to automate 850 decision items and integrated their ERP systems with the Freddy bot platform. PhonePe resolves 60%(!!) of their customer service inquiries without human intervention. They’ve also realized higher CSAT scores for bots compared to traditional channels of service.
  • To overcome the challenge of training agents on constantly growing services and scenarios, PhonePe has deployed a Freddy agent-assist bot that helps agents with customer context, guided workflows, and next best actions.

Vishal Gupta, Head of Product, PhonePe, said, “We adopted Freshworks' Freddy omnibot platform for a highly automated and personalized customer experience. We have been using it for a year and can confidently say that we have accomplished most of what we had in mind.”

 
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Most of Our Products are Built in India: Puneet Chandok of Microsoft India
Most of Our Products are Built in India: Puneet Chandok of Microsoft India
 

In a spirited discussion on AI and the retail industry, Puneet Chandok, President of Microsoft India and South Asia delved deeply into India's role in transforming the world through Artificial Intelligence and technology enablement. He discussed Microsoft's commitment to India, not only in training Indian talent but also in leveraging it.

On Monday, Prime Minister Narendra Modi had praised the Tech Entrepreneurs Association of Mumbai (TEAM) for hosting Mumbai Tech Week and their ongoing involvement in building tech startups in the country. During a panel discussion with Haptik CEO Aakrit Vaish at Mumbai Tech Week, Puneet Chandok, President of Microsoft India and South Asia, emphasized the transformative impact AI could have on various aspects of daily life.

Chandok stated, “When we look at India through the lens of demand, supply, and impact, there is no other market like India today. There are 7,000 listed companies in India and one hundred thousand startups. Many startups are in Maharashtra, and one hundred new startups are emerging in India every day. India is the largest SMB market globally, making it one of the most exciting markets today.”

He further added, “When we look at the supply lens and examine Microsoft's data, one out of four projects on AI in GitHub today is run out of India. Every sixth AI researcher in the world is from India. In the next ten years, 25 percent of the global workforce will come from India, meaning every fourth worker in the world will be from India.”

Discussing the growing influence and power of Artificial Intelligence, Chandok mentioned, “Last night, my 12-year-old daughter was creating text-to-video, and she told me that AI will change her life. She is an artist; she draws and paints. This also indicates how the younger generation perceives AI.”

Expanding on this, Chandok continued, “People will stop searching and instead have conversations. I have stopped searching myself; in fact, I was conversing with my Copilot to understand what is happening at the event and what I should speak about. We have shifted from searching to genuine conversations. This is not just chat drama anymore. These are sophisticated engines providing reasoning within.”

Regarding his personal perspective, Chandok remarked, “People say AI is overhyped, but I think it's not hyped enough. The next generation, which will use this in the next few years, will have much higher expectations of what technology can do for them. So, how you build it for that generation, how you build it for that future, will be really interesting to see."

Chandok also emphasized that those who do not embrace AI, risk falling behind in the rapidly evolving technological landscape. He encouraged Indian developers to seize the "lifetime opportunity" to become unstoppable by learning to use and deploy AI effectively.

He concluded, “If you are not learning AI, you are falling behind. I myself spend 30 minutes a day to learn more about AI. Technology is changing every day, and it has been 15 months since ChatGPT was launched. The speed of technology diffusion is unlike anything I have seen in my life, and it is advancing very rapidly. My call to action for everyone is to find a way to learn, otherwise, we will all fall behind.”

 

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