Chatbots: the entry point into larger digital banking transformation

To most financial institutions (FIs), chatbots are viewed solely as a customer support tool. Consumers often encounter chatbots on websites as immediate pop-ups, or interact with them as they begin their service journey. Businesses employ this self-service technology to free-up human agents from responding to frequently asked questions, or to initiate a seamless support experience between chatbots, support staff, and other customer support solutions. But chatbots provide more than a one-and-done customer service experience. For FIs, chatbots function within the broader digital banking platform, enabling users to complete transactions or transfers as well as get answers to frequently asked questions.