In November 2018, Turkish bank Isbank launched an AI-based personal assistant named "Maxi" to provide 24/7 one-on-one financial assistance. Maxi answers advanced personal financial management queries and provides customers with enriched graphs and money transfer in one step. Customers can ask Maxi questions related to their spending history with various details including date, merchant, amount, and spending advice.
Objective and Context:
Mobile users have enjoyed 24/7 access to banking services for more than 10 years, and these apps provide an efficient and user-friendly customer experience. However, mobile banking has missed out on the advantages of face-to-face conversation and the more personalized experience that is provided in physical branches. In recent years, with advancements in natural language processing and machine learning technologies, it has become possible to provide human-like experiences at the mobile banking level with the use of personal assistants.
Isbank surveyed Turkish financial customers to learn what they knew about artificial intelligence and virtual assistants, how much they used them in their daily lives, if they would want to use such services for banking, and what their concerns and expectations would be. Based on the results from this research, Maxi was developed to be compatible for target audiences who were:
Maxi was created in November 2018 and launched in December 2018. The launch was the first time Isbank ran a large campaign without using TV, only digital media and radio.
Explaining Maxi’s multiple capabilities in a single video did not match digital media consumption habits, so Isbank highlighted Maxi’s numerous features with multiple videos that were targeted to different audiences. Isbank’s consumer research resulted in four persona profiles that would deliver the most valuable impact:
Overall Campaign Execution:
The strategy was to share both short and long versions of the video using algorithms and retargeting. Isbank also used social media ads, advertorials, and radio advertising to promote Maxi.
Because Maxi is accessible through Isbank's mobile payment app, Maximum Mobil, and in its mobile banking app, IsCep, 80 percent of the overall campaign budget was dedicated to mobile.
Because this was Isbank’s first AI-based product launch, the Maxi campaign could only be measured against the mobile campaign for IsCep, “IsCep Cep Yilmaz,” which ran in 2017.
IsCep Cep Yilmaz campaign:
Two months after launching, Maxi had one million users and eventually became compatible with Siri Shortcuts and Google Assistant — the only Turkish bank app to do so.
Five months after launch, Maxi had more than three million users, had conducted 10 million conversations, and had transferred US$10.5 million.
For the Maxi launch campaign on YouTube, Isbank saw increased brand lift results for all four of its target audiences: