8 ways chatbots in banking can improve customer engagement

Oracle predicts that 80% of the organizations will use chatbot in the same year. By shifting customer requests to Kommunicate chat, we automated many of the repetitive tasks that our customer service team performs daily. We have been able to automatically contain 60% of incoming customer service requests for Epic Sports.

Banking chatbots help improve customer engagement and ease legacy processes, making banking more accessible in this fast-paced, busy era. A financial institution can use banking chatbots to automate routine tasks, such as processing transactions or transferring funds between accounts. By reducing the need for manual processing, you can also let the customer service representatives focus on more complex issues and building client relationships.

AI chatbots for conversational banking

Interact with customers seamlessly, offer prompt answers, and speed up response time without any human touch. Trust your AI bots to get smarter and work as a financial assistant to handle more advanced banking tasks. Save time and money by letting bots handle basic queries and transferring complex ones to human agents. Not only can conversational banking chatbots resolve customer queries in a prompt and efficient manner, but they can also help generate qualified leads. During a conversation with a customer, they can suggest particular online banking products and gauge interest.

This has helped all the stakeholders involved in the banking scene from CXOs, CFOs to the end customer. Clients are able to escalate queries through to a human auditor and talk directly to them within the application should they need to. This means all conversations related to the audit are managed within one interface. Stay connected to customers with promotional offers and discounts using Proactive Messaging. Ada is known for its super-powered automation capabilities, enabling it to take over routine customer inquiries and transactional tasks. With its unique combination of knowledge management and AI capabilities, Capacity has made a name for itself in the banking industry.

Conversational AI in Banking: 6 Engaging Examples

As per the report by Accenture, it is said that most of the customers prefer to go for a voice-based interface compared to text-based messaging platforms. Today you can see a rise in using conversational bots for assisting customers over text. Sectors like banking, finance, health, and e-commerce will witness an enormous surge in automation, especially when chatbots can improve customer experience. Deliver automated customer support and sales conversions with chatbots using REVE Chat’s AI powered live chat platform.

As a business owner, every employee that you hire costs thousands of dollars to train and recruit. Not only do chatbots help you maintain productivity during peak times, they also help you keep consistent response rates and times for your business. At ServisBOT, our bot army is comprised of individual chatbots each with specific roles as they relate to the use case.

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