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Integrating AI-powered chatbots into digital channels to offer customers a seamless and convenient way to access banking services and information
What Problem?
There is a need for customers to experience convenient and personalized interactions with their bank, thereby eliminating the necessity of waiting on hold or physically visiting a branch.
What Solution?
Banks and credit unions are now utilizing AI-powered chatbots, or Artificial Intelligence virtual assistants, to rapidly improve the customer experience and eliminate any unnecessary friction from banking tasks.
Why is it Unique?
Mass Interaction: Banking chatbots allow financial institutions to interact with millions of customers while keeping them informed about potential issues or upcoming payments
Data, Analytics & Insights: AI engines extract data and provide recommendation based on the conversations and its insights
Improve Efficiency and Redice Costs: Banking AI Chatbots can automate mundane customer service tasks, eliminating the costs associated with employing multiple representatives.
Action In Real Time: Chatbots get the issue addressed instantly providing solution in real time
Case Study
Emirates NBD's digital-only bank partnered with US-based Kasisto to launch conversational AI chatbot Olivia. The chatbot helps customers get quick answers on how to make a local transfer or to block their card; text back account balance or how many Livions have been earned. Olivia also answers queries on how much customers have spent last month on groceries or in restaurants, helping them plan and manage their finances better.
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