- CRED, a premium financial platform launched in 2018, now serves over 15 million members monthly, primarily targeting the affluent clientele with high credit scores. The company is transitioning into an AI-first organization to maintain product and service quality amid rapid scaling.
- CTO Swamy Seetharaman stated: “We asked ourselves how to make every employee 10 times more productive. With AI, that becomes feasible while maintaining our core values: trust, transparency, security, and elegant design.”
- CRED partnered with OpenAI, integrating GPT-4.0, GPT-5, and o3 models to develop Cleo – a specialized AI conversational assistant for customer service. Cleo handles 3 types of requests:
- Informational (e.g., “What is CRED Cash?”)
- Contextual (e.g., “Am I eligible for CRED Cash?”)
- Transactional (e.g., “Can I refund the money to my wallet or original card?”)
- Cleo analyzes intent, determines the Standard Operating Procedure (SOP), and generates accurate, natural responses.
- In parallel, CRED developed Thea (AI assisting employees in summarizing multi-format conversations like text, voice, Hinglish) and Stark (AI for the operations team, helping update SOPs in just minutes).
- After 3 months of implementation, CRED recorded a 14% increase in Customer Satisfaction Score (CSAT), a 98% resolution accuracy rate, and a 31% reduction in abandoned sessions. The average handling time decreased significantly across the system.
- Swamy revealed the next step is to expand Cleo to the entire service portfolio, while also developing a tool to detect “data bottlenecks” — where the chatbot lacks an answer, thereby automatically updating the knowledge base.
- Long-term goal: to make every employee in every department — engineering, quality assurance, infrastructure, compliance — “10x more effective” thanks to AI.
📌 The premium financial platform CRED is redefining premium financial services in India by combining generative AI with customer data, delivering a concierge-style experience: personalized, precise, and empathetic. With a 14% improvement in CSAT and 98% accuracy, CRED demonstrates that AI not only boosts productivity but also reinforces trust and sophistication in the digital financial experience.
