PNC co-leads tech firm’s $50M financing round

  • “PNC Financial Services Group Inc. is an investor in an Orlando, Florida-based artificial intelligence software firm’s recently completed $50 million capital raise.
  •’s products SmartAssist and BankAssist bring AI virtual assistants to call centers and retail banking.”

How Conversational AI is Transforming the Customer Experience

  • “Forbes author concluded that up to 84% of consumers had been helped by machines. Yet around half had no idea they weren’t speaking with humans.
  • ‘Self-service delivers personalized engagement, increases customer satisfaction, and reduces operational costs by deflecting common customer inquiries,’
  • Though CNBC concludes around 27% of young workers fear AI will take over their jobs, AI isn’t an either/or proposition. In fact, conversational AI software can serve alongside human customer service representatives.”

4 Ways Conversational AI Is Improving the Customer Experience

“Chatbots play an increasingly important role in customer service, support and sales. Pickell reflected that 95% of customer interactions are expected to take place via an AI chatbot or live chat by 2025. Additionally, a Gartner report indicated that by 2022, 70% of white-collar employees will interact daily with conversational platforms.”

How conversational AI can help banks grow

  • “Think about personal finance apps such as Cleo, which allows users to track spending and saving through interactions with a chatbot.
  • Digit, which automatically decides how much its users can afford to save based on their income and outgoings and moves an appropriate amount into their savings account every month.
  • Swedbank, one of Sweden’s largest retail banks, initially created its virtual assistant to help its agents find the right answers to customer queries. Soon, however, it put its VA to work on its website—where it now answers more than 80% of customer questions directly and supports personalised services like balance enquiries.
  • Another great example is BNP Paribas Personal Finance Spain, which launched its VA to meet a dual objective. ‘With our virtual assistant project, we seek to achieve the most important improvements for any customer service model: greater customer satisfaction and increased efficiency,’”

How conversational AI can help banks grow