Redefining Banking Experience, from Branches to Chatbots

Redefining Banking Experience, from Branches to Chatbots

Trends & Insights
Lia Lestari on 20 August 2018

When was the last time you were standing in a queue in front of a bank teller? Couldn’t remember? Well, it’s obvious. The internet and smartphones have reshaped our banking experience. But still, as much as internet banking helped us, sometimes their website/apps are not that easy to use. Let’s be honest, how much of you actually loved your bank apps as much as you loved Go-Jek or WhatsApp? Traditional banking apps are struggling to keep up with our expectations, mostly because their User Experience design still lags two or three years behind current trends. 


Some progressive banks have realized this issue and they turn to chatbots as a way to simplify the overall banking experience for their customers. So, in this post, we would like to share some insights about how Artificial Intelligence powered chatbots are redefining the banking experience


Today, more than 100.000 chatbots exist on messenger apps, which include large financial players like Bank of America, Mastercard, American Express, and Capital One. They have already invested in this technology to attract and retain new customers. According to a report by Juniper Research, chatbots are expected to help save global banks over US$8 billion per year by 2022. The report also estimates that a single chatbot inquiry will save approximately four minutes in comparison to traditional call center inquiries.







One of the banking chatbots that we launched in 2018 is Sabrina, a smart virtual assistant for Bank Rakyat Indonesia (BRI). These chatbots can help BRI customers to access information about banking and financial services. For example, Sabrina will help users to find the location of the nearest BRI branch, or even handle a customer’s complaint. Until today, Sabrina is available on Facebook Messenger, Telegram, and WhatsApp. Also could be accessed through natural conversations in Bahasa Indonesia. 


Moreover, these banking bots could deliver personalized offers, products, and services to customers, based on their profile data or their important life events, without being too pushy or annoying. Another interesting use case is programming your banking bots into personal financial advisors, they will keep a track of all the customer’s transactions, analyze it to understand their spending habits, and give budget planning tips based on those data, hence this technology will help your customers to keep their finance under control. 




In summary, conversational banking is new, but it is growing. AI and machine learning mean that banks can provide personalized and contextual responses to make banking even more convenient for the customers. Beyond the advantages of being available 24/7, conversational banking offers a seamless customer experience, enabling customers to interact with their bank in a frictionless manner using their preferred channels and methods of communication. 


Are you not sure how to choose the right conversational AI chatbot to power your business? Do not hesitate to reach us and our experts will help you with the right solution for your bank. Click here for more information. 


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