Banking on Bots: How Virtual Agents and Robo-Advisors are Disrupting Financial Services

"To remain competitive, these large banks will have to adapt their traditional services by incorporating more robotics in banking that will attract more tech-savvy customers." The unprecedented popularity of messaging platforms, such as Facebook Messenger, WhatsApp, and WeChat, can be seen across all geographies, demographics, and psychographics. And, messaging-based first-line engagements that occur on these platforms, as conducted with chatbots, has become the premier choice for consumers engaging with brands. And, with the ongoing advancements in artificial intelligence – enabling these virtual agents to better understand and address customer requests – chatbot adoption is quickly growing across multiple industries. According to Gartner, by 2020, 85% of customer interactions will be managed without any human intervention.