How Bank And Financial Companies Are Using Chatbots for Enterprises[Infographic]

Huge Rise of bots in business specifically in Banking and Financial Industry has been seen in 2018

Bank and financial firms are very sensitive fields and they just have started taking advantage of technological innovations in their daily functionings. These fields are very high traffic fields as high number of users uses bank for transactions and other use . With the advancement in Artificial Intelligence and NLP these bots are becoming intelligent enough to understand the user’s intent . Bots for business helps with 24/7 customer service initiating fund transfers, set up recurring payments, check bank statements and figure out a customer’s journey .

Here are few reasons where bots for business are coming up in the financial industry in a big way.

1. 24/7 Customer support

24 hrs support is the primary feature of chatbots. A person can seek help from banks and financial institutes for any reasons like solving queries or any other issues. Not all queries need manual help. These firms spend lot of time and money to maintain their call centre. Integrating chatbot can save huge amount of time.

2. User friendly to customers

A user friendly interface always engage more users, as contacting bank means going through a series of complicated task. Chatbots are designed only to help customers, so user rely more on it and it reduces the complex process like searching for right place or person and even users are not required to enter their credentials in a repetative mode which in turn makes it easy to use.

3. Automated data capturing

Chatbots uses NLP to understand context of communication, due to which it’s an excellent tool for data capturing and analytics. It effectively capture a customer’s current needs, as they can do it irrespective of the mode of communication (website / mobile app). In analytics data captured by chatbots helps banks & financial institute to find how satisfied a customer is and how engaged users are with their services, which helps them to analyze and improve services.

4. Depicts user interest

As we know bank provides a huge number of services and products like loans, cards, financial schemes etc. But customers are not aware of these services. So Bots can be used to introduce new products and services to customers and even test the engagement, and any time an executive can take over the bot.

5. Millennials choice

Millennials are clients with huge buying powers and bots are their preferences which cannot be ignored. Chatbots operate right from messaging apps, support, large consumer market to financial firms.

As a technology consultant we have built many bots in various areas like education, real estate ,services and It sector

We excel and thrive to do best in AI and ML integration services If you need one for yours do contact us and avail early bird offer also make sure you have a Whatsapp business API approval in case of integration your bot to whatsapp

You can also find 5 reasons where your Whatsapp chatbot can help your business