Financial Chatbots Are Coming, But It's More About the "Bot" Than "Chat"

Tyler Griffin, Entrepreneur in Residence at CFSI, recently wrote a wonderful article on financial chatbots, covering the history of their use with a focus on the modern-day user experience and highlighting their current limitations, especially those not powered by "true artificial intelligence." Griffin's article brought up a lot of great points. Because some financial chatbots operate through SMS messaging, they don't require users to download another app. This is a huge bonus for consumers with limited storage space on their devices. And from a development perspective, chat functionality can be deployed fast, resulting in rapid validation of new features.