Conversational AI is a game-changer for banks and financial institutions, enabling the complete reimagining of the digital customer experience by driving meaningful business value via increased operational efficiency. Early changes in the application environment saw multi-channel communication taking the centre stage where customers could interact using channels such as voice, chat, web self-service, email, and the like. Recent changes have seen further evolution, moving these channels from rule-based, menu option-driven applications to fully fledged automated conversational channels. The importance of digital self-service and personalized application delivery can’t be over-emphasized, especially as customers become increasingly digitally savvy and demand instant solutions to issues and queries. Conversational AI (C-Ai) enables this, particularly in the finance sector, where many legacy environments remain far too rigid and inflexible to deliver optimal customer satisfaction.
