Chatbot for Customers of Credit Card-Banking

In the post coronavirus pandemic situation, Credit Card usage has increased across the globe. Social media and messaging platforms are becoming more popular for digital and credit card transactions, as people can purchase through the same messaging apps with the help of technologies like Artificial Intelligence (AI) & Chatbots. To handle such an increase in number of customers the emerging technologies like Natural Language Processing (NLP) and AI-powered Chatbots are adopted by Credit Card service providers, banks, and NBFCs.

What Banks & Credit Card Service Providers can do to adapt and overcome the Industry Change:

Using the conversational interface as a component in an omnichannel credit card banking strategy enables Credit Card Service Providers to expand their network, by utilizing existing channels such as Facebook Messenger, WhatsApp, SMS, Amazon Alexa, Google Assistant, Siri, etc. for their end customers. Conversational commerce in Credit Card Services leverages AI to automate credit card transactions and payments through Credit Card Chatbot messaging and digital voice assistants.

Streebo a leading AI and Digital Transformation Company has created an immensely powerful, intelligent, and Pre-trained AI-Powered Chatbot for Credit Card Applications. These bots are 99% accurate and are pre-integrated with a wide variety of Core Banking Software, Credit Card Systems, and Payment Systems. Moreover, these Bots leverage leading Natural Language Processing (NLP) engines such as IBM Watson, Google Dialogflow, and Amazon Lex to extend these commerce experiences to a variety of social media platforms.

Streebo’s Credit Card Chatbot includes advanced reporting and analytics to gain better insights into acquired customers’ card usage patterns. That is why Streebo’s AI-powered Credit Card Chatbot has a powerful ROI as it can improve sales and reduces costs for organizations deploying them.

Business Benefits

With chatbot for Credit Card companies, it has been observed that close to 10% customers would buy items from conversational Interface and close to 23% of consumers are interested in chatbots for their instantaneity.

Hence by adopting Conversational Credit Card Service across channels and making your existing digital properties will help your company with the following benefits:

Offer a Credit Card
Credit Card Chatbot can interact with your systems/credit bureaus and as per the credit scores of a customer can offer a credit card

Increased Lead Generation
Leverage the company’s digital properties or multiple digital channels such as WhatsApp, Facebook Messenger, SMS, among others to easily reach out to illegible customers to offer a credit card. Generate leads and qualify those leads with relevant questions and resolving their queries.

Personalized Marketing Strategies
Credit Card Chatbot can help by gathering initial information and analysis about a service case by analyzing the purchase repayment pattern of a customer.

Acquire & support customers while you sleep
A Chatbot that is tireless & consistent can provide consistent and precise knowledge every time a customer makes a new credit card request or asks for support.

Improved Customer Engagement
NLP-aided features and transactional agility will not only improve the engagement with the customer but drive adoption amongst the dormant credit card customers.

Reduce Intervention
Credit Card Application Chatbot to assist customers in operations like create an account, eligibility checks, apply for a credit card, service requests, payments, etc.

Underwriting Assistance
Credit Card Application Chatbot can assist in process of underwriting which reduces the TAT for credit card approvals and communicates with all parties on basic underwriting questions for a loan application, seeks additional or missing data to perform the underwriting process.

One-stop-shop solution
Artificial Intelligence for Credit Card Companies allows interaction with multiple e-Commerce platforms and payment gateways for customer’s shopping, billing & payments.

Notifications and reminders
Credit Card Chatbot sends important notifications and reminders to customers that no one misses the due dates.

Virtual credit cards and QR code payment
Chatbot reduces the need for physical meetings/mailing can issue a Virtual Credit Card and support QR code payment.

Reduced Operational Cost
Having a Credit Card Application Chatbot in your Team results in a significant decrease in operational cost and a remarkable increase in the conversion rate.