Fairstone boosts loan booking by 10% with NiCE CXone Mpower Proactive AI Agent

CUSTOMER PROFILE

Fairstone Bank and its family of brands deliver innovative, accessible, and reliable financial solutions that enable Canadians to achieve their goals. Backed by nearly a century of lending experience, Fairstone has 250 branches across Canada and was looking for ways to make the loan experience better for customers. That’s why they partnered with NiCE to enhance the loan booking process and ensure customers received timely and exceptional experiences every time. By leveraging CXone Mpower Proactive AI Agent, they made it easier to engage with customers and follow up on leads efficiently. The result? A smoother, more responsive process—and a significant increase in successful loan bookings—bringing fast, reliable support customers deserve.

01 BEFORE

Inconsistent lead follow-up limited potential revenue

Fairstone faced challenges with inconsistent customer follow-up practices across its branches, which resulted in many customers not being reached and ultimately led to missed conversion opportunities. Although a Centralized Lending Team was created to increase and standardize follow-ups, the strategy did not deliver the expected results. While top-of-funnel opportunities increased, loan book rates were declining.

02 DESIRE TO CHANGE

Achieving consistent growth required a proactive solution

Recognizing that every percentage point increase in loan booking represented millions in revenue, Fairstone sought a dynamic solution capable of effectively managing customer interactions. They needed a scalable, multichannel, personalized approach that would overcome the limitations of manual follow-ups. NiCE’s CXone Mpower Proactive AI Agent was chosen for its ability to manage complex, multi-day engagements dynamically and to drive measurable business outcomes.

03 NiCE SOLUTION

Proactive engagement through NiCE CXone Mpower AI Agents

Fairstone deployed Proactive AI Agent across all 250+ branches, implementing a sophisticated two-week, multichannel, multi-touch dynamic digital engagement strategy. Tailored conversations, uniquely personalized for homeowners and renters, proactively addressed frequently asked questions, and guided prospects towards booking appointments with loan specialists. This targeted, proactive approach ensured higher customer engagement and significantly improved booking rates.

“The deployment of Proactive AI Agent within our Direct and Indirect lending journeys has been a game-changer,” said Thomas Cesari, Director of Direct Lending Product at Fairstone. “These agents seamlessly handle complex engagements while remaining fully compliant, driving exceptional, timely and flexible customer experiences.”

04 RESULTS

Exceeding expectations with clear financial impact

The implementation resulted in remarkable engagement, with a 65% response rate and 90% of responding applicants booking appointments. Fairstone achieved a 10% increase in loan bookings, significantly surpassing its original 4% goal. The sales cycle duration was also reduced by 7%. Financially, the proactive strategy drove millions in yearly “net new cash” into their direct lending business.

“in just four months, our book rate for enabled channels has increased by 10%, which has far surpassed our forecasts. The rapid deployment and impressive roi— exceeding 20:1— make nice an invaluable partner in our strategic innovation efforts,” added cesari.

05 FUTURE

Expanding proactive strategies for greater impact

The great success of the initial deployment encouraged Fairstone to launch additional use cases in other strategic business lines within the bank. In the past few months, new tests in French-language experiences, credit cards, and cross-sell opportunities have been launched, and early results are showing similar value.

Fairstone continues to leverage NiCE’s advanced AI capabilities to enhance customer experiences and further strengthen its competitive market position.