Chatbots, also known as virtual assistants, are becoming increasingly popular in the financial services industry. These AI-powered systems can provide customers with quick and accurate answers to their questions, 24/7, improving the overall customer experience and reducing the workload on human customer service representatives. Here are the top 5 use cases for chatbots in financial…
Tag: ai Banking
We’re One Step Closer to the Era of Open Banking. Here’s Everything You Need to Know.
“At October’s Money 20/20 conference, Chopra unveiled a process for exercising the CFPB’s authority under Section 1033 of the Dodd-Frank Consumer Financial Protection Act that could lay the foundation for open banking. While specifics have yet to be defined, the rule would obligate financial institutions to share data with consumers upon their request. At the…
Podcast: Top bank tech and innovation trends for 2023
“What’s on the horizon for bank innovation and fintech in 2023? In this episode of the ABA Banking Journal Podcast — sponsored by xChange — ABA’s Office of Innovation team explores top tech trends for the year ahead. Among other topics, they discuss the growing role of investment in foundational infrastructure like core processing, how…
Credit unions turn to chatbots and AI for member service
“Credit union call centers and other lines of support for members have been under increased stress since the start of COVID-19 in 2020. But industry leaders and experts hold that artificial intelligence could be the answer. For the institutions that prioritized digital solutions against the sweeping closures of physical branches in the wake of the…