While most banks are offering banking facilities through mobile, DBS has said digibank has some unique features. Wherever they are, whatever their need, digibank customers can converse with digibank's AI-powered virtual assistant to get their queries answered or banking transactions performed. Because the virtual assistant understands natural language and has learning ability, it is able to respond in real-time. Most bank customers receive One-Time Passwords (OTPs) via SMS, and then typing codes into pages to authorise their mobile banking transactions.

DBS Bank of Singapore's recently unveiled Digibank, what it claimed is India's first mobile-only bank. Digibank brings together an entire suite of technology – from biometrics to artificial intelligence (AI) – to customers and is a completely paperless, signatureless and branchless bank. While most banks are offering banking facilities through mobile, DBS has said digibank has some unique features. Here are some of those features. Wherever they are, whatever their need, digibank customers can converse with digibank's AI-powered virtual assistant to get their queries answered or banking transactions performed.

Microsoft made headlines when Tay, the chatbot designed to engage with millennials, was exploited and began tweeting what the company described as "wildly inappropriate and reprehensible words and images." But other companies are quietly implementing similar artificial intelligence technology to interact with current and future customers. Atom Bank, a startup, mobile-only bank based in the U.K. recently announced that it is incorporating WDS Virtual Agent software from Xerox into its mobile app. The machine learning software will give customers an agent-like option for assisted self-service on the app. The software was introduced two year ago to diagnose and solve customer queries by analyzing data and learning from the ways in which human agents diagnosed and solved customer problems.