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Well, what does this mean for the consumers?
Simply put, it talks about an era of
technological advancement when you will
never have to leave a messaging platform in
order to perform any daily activity. Shopping,
Advertising, CRM, Transport bookings,
Banking; every internet service will happen on
one platform. Kasisto, the startup that helped
create Siri, is working with banks across the
globe to provide a simpler way to watch your
money- or even control it. Kasisto stated that
the essence is to do things that you can't do in
other ways. Banks across the globe are
jumping on the ChatBot bandwagon to provide
Internet services to their customers. Banks
today, are already providing their own, voice
and text-enabled, digital assistants to help
customers in their day-to-day transactions.
May 2017
DBS Singapore is working with Kasisto to
integrate banking services in a messaging
platform using AI. This, although in its early
phase, looks very promising for the banking of
the future. DBS talks about banking being
embedded in other things of life. Capital One
with Amazon's Alexa had provided banking
services where customers can check their
balance, make payments, review recent
transactions and understand their spending
habits using voice commands. MasterCard and
Amex let customers to access their accounts
and perform daily activities through Facebook
Messenger.
A few examples of Banks and other FI using
chatbots for payments:
Financial Institutions Chatbot /AI based
Banking Applications Bank of America Erica Text and voice enabled chatbot;
Sends customer notifications, identifies areas of
saving money, provides updates on FICO score,
facilitates bill pay within BoFA app.
Capital One Eno Text enabled chatbot;
Allows customers to find out upcoming bills,
check account balances and pay credit card
bill using voice
Ally Bank Ally Assist Speech and text enabled assistant;
Enables customers monitor accounts and
transactions, pay bills, make transfers and
deposits, and track spending and saving patterns
Barclays Africa Chatbanking Extends baking to Social Media platforms;
Enables customers to check balance, make payments
to friends, review recent transactions, and pay bills
and purchase data from Social Media platforms
DBS Singapore DigiBank Voice and text enabled assistant;
Customers can review their transaction history,
check their current interest rate, make payments
and money transfers, and answer banking queries
Salient Features
Source: https://www.abe.ai/blog/10-big-banks-using-chatbots-boost-business/
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