Seven banks compete in Artificial Intelligence adoption: Kenya

In a bid to run with the tide of digital economy, fresh facts have emerged that seven Deposit Money Banks (DMBs) are already competing in not only adoption but performance efficiency and customer satisfaction in the use of Artificial Intelligence-powered chatbots. The banks are Zenith Bank with chatbot called Ziva; Fidelity bank plc's Ivy; First City Monument Bank's Temi; UBA Group with its Leo, an AI-powered Facebook Messenger bot that allow users perform banking transactions; Access Bank's Tamada; Heritage Bank's octopus chatbot and Keystone Bank's chatbot called oxygen. A chatbot is a computer programme or an artificial intelligence which conducts a conversation through audio or text. They are messaging apps which allow businesses and brands to remain online 24 hours, providing customer support by instant responses and complaint resolution. AI, chatbots and automated, self-service technologies free up call centre employees from routine tier-1 support requests so they can focus on more complex tasks.