“Chatbots that fail to deliver on the promise of an improved customer satisfaction can not only drive people away from the feature, but possibly from your financial institution entirely. Four common failures can negatively impact a chatbot’s ability to serve customers: 1) Poor Coverage/Poor Accuracy2) Lack of Precision3) Poor Bot Memory For Context4) Being Model…
Tag: ML
Google MUM is Coming to Lens
“Google announced that their next generation super algorithm MUM is coming to their Google Lens product. This fulfills the promise of MUM which allows a user to search not just with text but with images as well. This helps when you’re looking for something that might be difficult to describe accurately with words alone. MUM,…
RBC launches AI-powered cashflow prediction tool
“NOMI Forecast is the newest capability in the bank’s artificial intelligence (AI)-powered virtual assistant, called NOMI. The recently launched functionality gives customers a seven-day view into their future cash flow by forecasting upcoming preauthorized payments that will soon be withdrawn from their accounts. The $1.3 trillion Toronto-based RBC launched NOMI in 2017 as a virtual…
PayPal launches its ‘super app’ combining payments, savings, bill pay, crypto, shopping and more
“PayPal has been talking about its ‘super app’ plans for some time, having recently told investors its upcoming digital wallet and payments app had been given a go for launch. The enhanced bill pay feature lets customers track, view and pay bills from thousands of companies, including utilities, TV and internet, insurance, credit cards, phone…
World’s Best Digital Banks 2021: Round 1
“Since the launching of Bank of America’s Life Plan in October 2020, more than 4 million customers have used it to set and track short- and long-term goals. Underpinned by AI, Fatema has over 700,000 impressions on social media and is the first digital banking assistant to have its own social media account. A year…