Why Chatbots Are Gaining Ground Among Financial Services Companies

Recent data points to substantial adoption and annual growth as companies leverage the increasingly intelligent, computerized conversationalists to connect with customers and enhance their experience. Consumers also report an uptick in their willingness to engage with chatbots; survey results from Salesforce show that 58 percent of customers believe emerging technologies have already "changed their expectations of companies" and 77 percent expect chatbots to transform expectations over the next five years. Historically resistant to automate people- and precision-driven processes, financial institutions are now catching up to the market at large, using bots to answer client and staff questions -- and are enjoying tangible benefits. According to Vijay Sankaran, CIO of TD Ameritrade, chatbot technology represents "a key part of our strategy, and we'll continue to invest in it." With organizations now banking on bots to bridge the gap between customer expectations and experience, what's the best way to make the most of this emerging interactive experience?