Check out this case study featuring the team from loanDepot and their journey to boost productivity, onboard new employees, and drastically reduce their approval completion time.
“Having a single place for new hires to get help relieves a massive burden for my team. By introducing Elle-Dee during onboarding, we make sure that people know where to get help, now and in the future. Over time, just that one change has an enormous compounding impact on what IT has time to do.” — Donald Small, VP of IT Enterprise Support, loanDepot
“We recognize that the world has fundamentally changed since 2020. Exceeding employees’ expectations is a never-ending journey. As loanDepot, and FinTech as a whole, continues to evolve — we need tools that can keep up. Moveworks will help loanDepot grow.” — Donald Small, VP of IT Enterprise Support, loanDepot
Background 🏠
Founded in 2010, loanDepot has helped over a quarter of a million Americans achieve homeownership by focusing on a customer-centric lending experience. The company aims to create a straightforward and supportive environment for both customers and employees.
Challenges 🚧
loanDepot faced several challenges:
- Responding to technical support tickets took days, blocking employee productivity.
- Scaling help desk operations while transitioning to hybrid work.
- Phone support became a significant challenge during the sudden transition to remote work in 2020, leading to long wait times.
Solution 💡
To address these challenges, loanDepot implemented Moveworks' AI-powered chatbot, Elle-Dee, in February 2022.
Elle-Dee:
- Automatically resolves employees’ requests and communicates changes.
- Provides solutions directly through Microsoft Teams.
- Handles hundreds of use cases from day one and improves its knowledge over time.
Key Benefits 🌟
- Efficiency: Elle-Dee resolves thousands of issues per month, reducing wait times and freeing up IT agents to focus on high-impact tasks.
- Onboarding: Helps new hires quickly get up to speed by providing access to necessary software and information.
- Communication: Sends targeted messages to employees, significantly improving engagement compared to traditional email.
Impact 📈
- Over 1,000 questions answered in the first month.
- More than half of employees actively engage with AI-powered communications.
- Employee satisfaction with the bot is at 90%.
Conclusion 🏁
loanDepot’s implementation of Moveworks' AI has been a game-changer, creating a more efficient and supportive workplace. The company continues to explore new ways to leverage AI to meet evolving employee expectations and maintain its competitive edge in the FinTech industry.
