What is the current state of chatbots in mobile banking?
While integrating chatbots into customer service has compelling benefits — banks could save $1 trillion by 2030, according to Autonomous Research; plus, they enable asynchronous communication and are available 24/7 — research from Zendesk found consumers still prefer speaking to humans.
The good news is that most are open to being persuaded of chatbots' benefits. So much so that, according to Zendesk, 70% believe they can make customer support more personalized and effective, especially if they use AI.
So what are bank chatbots currently able and unable to do? And what enhancements would bring them more in line with consumers' expectations?
Here's what the data from FinTech Insights, our digital banking research platform, told us.
The great, the satisfactory, and the basic: A roundup of chatbot functionality
To explore the current state of chatbots, we looked at 149 national and regional banks, credit unions, and challengers in North America and Europe. Our sample consisted of 90 firms in North America (76 in the US and 15 in Canada) and 58 firms in Europe (41 in the EU and 17 in the UK).
We grouped the chatbots in our sample into three categories...
Read the full article and the findings of the research on the Financial Brand.
Book a free demo to explore more about FinTech Insights and its capabilities.
You may also like
January 21, 2025
January 27, 2025
April 23, 2024
Build a digital banking strategy that can't be challenged
Let's show you how FinTech Insights can help you wow your customers, on every login.