AI chatbots for banking is becoming increasingly widespread. The features of this tool are being enhanced and diversified, helping banks strengthen their competitive advantage. By fully understanding the functions of this tool, banks can achieve multiple benefits and their business goals. In the following article, Innotech will show you 5 ways to use AI chatbots for banking to improve enterprise performance.
1. Why should you use AI chatbots for banking?
Using AI chatbots for banking has become an inevitable trend in the new context of the financial – banking industry. Especially as E-banking and smart banking models have become popular payment methods worldwide. The impact of both internal and external factors is driving the adoption of AI chatbots for banking. Some reasons behind this rapid growth include:
-
The strong development of technology,
-
Rapidly changing digital customer behavior,
-
Intense competition among banks in the race for market share,
-
The demand for a technology that can integrate with new trends such as fraud detection, e-wallets, and blockchain,…
-
The requirement to optimize operational costs and improve internal efficiency.
Reasons why we should use AI chatbot for banking
2. 5 ways to apply AI chatbots for banking
With the reasons above, using AI chatbots for banking will bring many benefits such as: enhancing competitiveness, improving customer experience, keeping up with technology trends, and increasing technological network connectivity… in your business.
There are 5 ways to use AI chatbots for banking as follows:
2.1. Using AI chatbots for banking to support customers 24/7
AI chatbots can receive and respond to customer questions immediately upon request. Unlike call centers or traditional response systems, an AI chatbot works like a human. It can rely on past Q&A history with customers to provide the most natural and understandable answers. All inquiries are resolved at the exact time customers need, satisfying their information needs.
Using AI chatbots for banking to support customers 247
More importantly, using AI chatbots for banking is not affected by service interruptions caused by high user volume at the same time. Even with thousands of customers accessing simultaneously, the AI chatbot still ensures instant and efficient handling. Therefore, integrating AI chatbot for banking into a website or banking app is considered a smart replacement for traditional consultants.
2.2. Using AI chatbots for banking to handle basic financial transactions
AI chatbots for banking already has the function of transferring money through voice commands. Customers can simply give a voice command, and the AI chatbot will execute payment transfers conveniently. In addition, AI chatbots is used to check account balances, guide card opening, update personal information, and look up services without the need to visit a physical branch.
Using AI chatbots for banking to handle basic financial transactions
2.3. Using AI chatbots for banking for personal financial advice
Based on transaction history, AI chatbots for banking can set a spending limit or suggest a credit card with shopping benefits. The chatbot can remind customers to save more or warn them when spending exceeds normal levels.
Using AI chatbots for banking for personal financial advice
For customers with stable incomes, AI chatbots can suggest fixed-term deposits or allocate part of their funds into low-risk investment portfolios. When customer goals change (buying a house, children’s education, long-term travel…), the AI chatbot can adjust financial recommendations and roadmaps accordingly.
2.4. Using AI chatbots for banking to detect and warn about fraud
AI chatbots can integrate with real-time transaction data analysis systems to detect unusual behavior. If a customer usually transacts domestically but suddenly makes a large overseas transaction, the chatbot can instantly issue an alert via the app or SMS.
Using AI chatbots for banking to detect and warn fraud
The system learns each customer’s behavior and provides timely warnings, minimizing financial losses. This not only protects customer assets but also strengthens the bank’s safety and reputation.
>> Learn more: 5 trends shaping the future of fraud detection using AI in banking
2.5. Using AI chatbots for banking to collect customer insights and cross-sell
AI chatbots interacts with customers daily, recording their preferences, needs, and consumption behaviors. These data help banks analyze insights for a deeper understanding of customers. From there, the AI chatbot can recommend suitable products (cross-selling). This approach increases bank revenue while still providing personalized customer experiences.
Using AI chatbots for banking to analyze customer insights
Benefits of using AI chatbots for banking
It is not difficult to understand how to use AI chatbots. Many banks have outsourced AI software development services to integrate AI chatbots and have achieved the following benefits:
-
Cost savings in operations: AI chatbots replaces many tasks of call center staff or tellers, reducing HR and infrastructure costs, especially in repetitive tasks.
-
Integration with current core banking systems: AI chatbots directly integrates with core banking, CRM, and digital transaction platforms, ensuring smooth operation without requiring a complete IT infrastructure overhaul.
Benefits of using AI chatbots
-
Reduced workload for employees: Routine tasks such as checking balances, resetting passwords, or service guidance are handled automatically by the chatbot, freeing staff to focus on more complex tasks like credit consulting, risk management, or VIP customer care.
-
Increased conversion rates and revenue: Thanks to its ability to recommend relevant products (cross-selling, upselling), AI chatbots maximizes customer value and boosts service registrations.
-
Enhanced customer retention: Fast convenient experiences encourage long-term customer loyalty. As a result, AI chatbots reduces customer acquisition costs and optimizes customer lifetime value.
3. Case study
Unifimoney from the U.S. is a typical example. Its business operations are now strongly supported by an intelligent AI chatbot. Specialized AI integrated into the chatbot has:
-
Replaced human consultants
-
Provided analysis
-
Suggested investments
-
Delivered real-time market analysis
-
Optimized user experience
-
Reduced operating costs, especially in consulting
-
Improved customer service
Customers of Unifimoney is using Ai chatbot to answer financial inquiries
As a result, staff costs and operating expenses have been significantly reduced. At the same time, customer experience has been enhanced through the use of this software.
We’ve just explored 5 of the most popular ways AI chatbots are shaping the future of banking. To receive consulting on how to integrate AI chatbot services in the Finance – Banking sector, please leave your details TẠI ĐÂY.
