What Banks can do to adapt and overcome the
The advent of Artificial Intelligence (AI) and advancements in Natural Language Processing (NLP) has given birth to Chatbots or Virtual Assistants or Bots like they are popularly called. These chatbots if trained and deployed correctly, can manage the communication between agents and consumers for Banks. These Chatbots create an opportunity to leverage unprecedented channels such as Facebook Messenger, WhatsApp, SMS, Amazon Alexa, Google Assistant, Siri, etc. for agents and banks to interact with their end customers. The Retail Banking Agent Chatbot allows to shift through these channels quickly and efficiently, enabling more personalized approaches to increase sales and collections reduce operations costs, and saves time & effort.
Streebo a leading AI and Digital Transformation Company has created a highly intelligent, Pre-trained AI-Powered Agent Chatbot for Retail Banking. These bots are 99% accurate and are pre-integrated with a wide variety of Core Banking softwares such as EdgeVerve Finacle, Oracle FLEXCUBE Core Banking, and SAP Core Banking Services among others. Moreover, these Bots leverage leading Natural Language Processing (NLP) engines such as IBM Watson, Google Dialog, and Amazon Lex to extend these commerce experiences to a variety of social media platforms.
Bots for Retail Banking Agent made 65% of Consumers believe ‘customer service’ was smooth. Further, 47% of consumers would buy items from Chatbots and 57% of consumers are interested in chatbots for their instantaneity. By staffing Retail Banking with these 24X7 available Intelligent Bots, Banks can empower their agents to both cross-sell and improve their customer satisfaction by an average of 23% thus reducing their call center costs as well. That’s why these AI-powered Retail Banking bots have a powerful ROI as they can both improve sales and reduce costs for organizations deploying them.