AI-Powered Banking Bots: Streamlining Customer Service for Corporate Banking using Chatbots

Pandemic 2020 disrupted the Corporate Banking sector. Businesses were disrupted and branchless or contactless banking become a norm. Both these phenomena(s) put unprecedented pressure on the Call Centers at Banks. On the other hand, consumer behavior took a tectonic shift as mobile usage went through the roof and even within the mobile devices’ social media apps, internal messaging apps and communication through asynchronous messaging are now in vogue. Banks that will tap into the phone and social media channels to communicate with their customer will stand to gain market share and improve customer satisfaction index thus helping them with customer retention. However, adding more personnel to these channels is not a scalable solution. The question on the table is …

What can Banks do to adapt and overcome the Industry Change

With the advent of Artificial Intelligence (AI) and advancements in Natural Language Processing (NLP) now companies can tap into the voice and chat channels to streamline the process without having to add more folks to their customer service center. Banking Chatbots, Virtual Assistants and Voice Bots have evolved to a point where they can provide an improved experience to the end customer. At Streebo, an Artificial Intelligence company, we have developed a library of Bots to handle customer service for Banking including Retail Banking, Corporate Banking and Credit Card Services. Streebo’s Corporate Banking Chatbot has 99% accuracy and can be deployed across different channels including. Web, Mobile, Facebook Messenger, WhatsApp and even SMS. Streebo’s Corporate Banking Bots & Virtual Assistants are trained in common business functions such as fund transfers, foreign exchange rates, management of payroll, reviewing transactions, and managing account details among others.

These bots are pre-integrated with a wide variety of Core Banking Software 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 the banking experience to a variety of social media platforms such as Facebook Messenger, WhatsApp and even SMS. Streebo’s Corporate Banking Chatbot can improve sales and reduce the cost of the operation with its ability to resolve queries with 99% accuracy.

Business Benefits

According to Juniper Research, in 2023, chatbot interactions will save 862 million hours for banks, which equals $7.3 billion cost savings worldwide.

By adopting Streebo’s Chatbot for Corporate Banking across channels banks will see the following benefits:

Improved Conversions

Leveraging the company’s digital properties and social media channels through Chatbot for Corporate Banking such as WhatsApp, Facebook Messenger, SMS, among others to easily reach out to prospects can help in improving the conversion ratio of inquiry to sales closure.

Improved Customer Engagement & Satisfaction

NLP-aided features and transactional agility and 24 X & availability and instantaneity will not only improve the customer engagement but also improves the customer satisfaction ratio.

Cost Efficient

Banks can save a lot of cost by offering Streebo’s Chatbot for Corporate Banking. There is no cost of resources for support, training of resources. Results in a significant decrease in operational costs as Chatbots responses more queries in less time without human intervention.

Build Strategies

Chatbot can generate an analysis of customer’s business and can provide suggestions with its natural language understanding. These analyses can be used in planning and forecasting.

Customer Retention

Since customers get real-time answers, the retention increases and the risk of customer loss decreases.

AI Powered Chatbot extended on Social Media Channels

Web Application Bot
Artificial-Intelligence-Powered-Bot-for-Healthcare-Pharmacy-Dealer WhatsApp Bot
Artificial-Intelligence-Powered-Bot-for-Healthcare-Pharmacy-Dealer Facebook Bot
Artificial-Intelligence-Powered-Bot-for-Healthcare-Pharmacy-Dealer SMS Bot

Why Streebo’s Chatbot for Corporate Banking?

Streebo in collaboration with leading technology providers like IBM, RedHat, Google, Amazon, and HCL Technologies has created a smart and secured solution.

Key differentiators of Streebo’s Pre-Trained and pre-integrated AI-Powered Chatbot for Corporate Banking:
Chatbot-for-Corporate-Banking Built-in Domain Intelligence
Streebo’s Team with multiple implementations in the Corporate Banking sector holds deep domain knowledge in the Corporate Banking domain. In collaboration with its technology partner(s), it deploys a highly intelligent pre-trained Corporate Banking Chatbot that can emulate business processes for various operations.
Chatbot-for-Corporate-Banking Omni-Channel Benefit
Streebo’s s Corporate Banking Chatbot can be deployed across social media channels such as FB Messenger, WhatsApp, WeChat, Skype, and even SMS. They can even handle voice channels such as IVR, Amazon Alexa, and Google Home. Bots can even be deployed to existing digital properties such as the website and mobile App.
Chatbot-for-Corporate-Banking Pre-Integrated with Backends
Streebo’s Corporate Banking Chatbot comes in pre-integrated with Core Banking Solutions such as Finacle, Oracle FLEXCUBE Core Banking, and SAP Core Banking Services among others.
Chatbot-for-Corporate-Banking Flexible Deployment Options
Streebo’s Pre-Trained Artificial Intelligence for Corporate Banking can be deployed on-premise or on IBM Cloud, Microsoft Azure, Amazon AWS, or Google Cloud Platform.
Chatbot-for-Corporate-Banking 99% Accuracy
Streebo Chatbot comes with Guaranteed Bot Intelligence Index* of 99% (*BII= No. of questions answered correctly/No. of relevant questions asked)
Chatbot-for-Corporate-Banking Chat Analytics
Streebo’s analytics dashboard is developed to record and display systemic data, metrics, preferences, and trends which eventually help in monitoring user interactions, and can be adapted accordingly to give relevant responses and take business decisions.
Chatbot-for-Generic-Customer-Service Standard Architecture
Build on Natural Language Processing engines such as Amazon Lex, Google Dialog, and IBM Watson Assistant, Streebo’s Smart Bots are built on robust software. Application Platform technologies include support for standard J2EE engines including IBM WebSphere or JBOSS and can be deployed as standard Docker and Kubernetes packages on platforms such as RedHat OpenShift.

Streebo’s AI-Powered Chatbot for Corporate Banking Supports Below mentioned Features

Chatbot-for-Corporate-Banking Omni-channel Solution
Chatbot-for-Corporate-Banking Secured Architecture
Chatbot-for-Corporate-Banking Multilingual Support for over 38 languages
Chatbot-for-Corporate-Banking Support for both voice and chat channels
Chatbot-for-Corporate-Banking Chat Analysis
Chatbot-for-Corporate-Banking Inbuilt Live Agent Support

Our Pre-trained Chatbot for Corporate Banking is Trained in the Following Operations

Chatbot-for-Corporate-Banking FAQs (Frequently Asked Questions)
Chatbot-for-Corporate-Banking Account Balance & Details
Chatbot-for-Corporate-Banking Add Payee
Chatbot-for-Corporate-Banking Fund Transfer
Chatbot-for-Corporate-Banking Payroll management
Chatbot-for-Corporate-Banking Manage Service Request
Chatbot-for-Corporate-Banking Foreign Exchange
Chatbot-for-Corporate-Banking Update Profile
Chatbot-for-Corporate-Banking Business Reports
Chatbot-for-Corporate-Banking Feedbacks and Reviews

Pricing Options

MVP (Minimum Viable Product) bot includes:

Chatbot-for-Corporate-Banking 3 transactional use cases
Chatbot-for-Corporate-Banking 1 backend integrations
Chatbot-for-Corporate-Banking 50 FAQ’s
Chatbot-for-Corporate-Banking Channels – Web, Mobile App, 1 Social media channel such as WhatsApp/Facebook Messenger

Capex Option

Chatbot-for-Corporate-Banking You can choose to buy the MVP Bot.

Opex Option

Chatbot-for-Corporate-Banking You can choose to Subscribe to the MVP Bot at no upfront setup fee.

Pay Per Usage

Chatbot-for-Corporate-Banking This is a conversation-based subscription and tied to the number of conversations, hence there is no constraint on the scope.

Check out this video to see our bot in action