How chatbots are changing customer service dynamics in banking

Ever wondered about the volume of calls to banks? It is probably inevitable that banks would turn to chatbots sooner or later. The most expensive forms of interaction with customers are the personal ones: face-to-face, and by telephone. This explains why banks have encouraged customers to adopt internet banking. But it also explains why banks are looking so hard at chatbots: reduce the price of telephone interaction by using bots, and you have made some serious efficiencies. But of course to succeed, the chatbots have to be effective.