The Future of Conversational AI in Banking

  • “‘Virtual assistants can and should go well beyond a ‘point in the right direction’ or FAQ to handle complete transactions — from changing an address to cancelling a payment and updating a standing order to identifying a specific need and routing the customer to correct specialist,’ says Can Kekevi (Accenture).
  • The future of conversational AI in banking may not simply be only about banking, but rather banking would merely be one aspect of how the average consumer uses conversational AI in their daily life, says Peter Wannemacher, principal analyst, digital banking at Forrester.
  • Since then, mobile apps have grown twice as fast as chatbots. Both channels are on the rise compared with website usage, which has declined for customer service use, yet websites are still used by almost 50% of customers versus about 23% for chatbots.
  • Personalization is also something customers are asking for. Only about 30% of bank customers that use mobile banking report that their financial institution offers personalized content and recommendations, according to Javelin. Conversational AI should reflect this need.”

Leave a Reply