Chatbots are transforming customers experience about financial services

  The rapid evolution of smartphone technology has changed the approach to the potential or current customers. It’s already imposed on the businesses of any kind to find a way to use communication channels that can easily get to the customers through their smartphone as their main communication tool. As chatbots continue to reduce operating costs for enterprises, their use on the market spreads. Chatbot marketing, payments, processing, and service are different segments chatbots can work in—but when it comes to chatbot revenue, service has a majority of the market share.

It has never been easier to stay connected in every corner of the world than it is now, and in most cases, that connectivity is provided free of charge. So, businesses use this as an advantage and opportunity to reach the customers and satisfy their needs.

Also the financial institutions feel the pressure of the need for action to keep track of the trends these days. Their solution is Chat Banking through Chatbots.

Chat banking is a self-service model for delivering financial services over chat apps, also it is used as a communication channel to reach potential customers, providing customer security, engagement, experience and communication automation.

With Chatbots customers can be reached in a way that is most easy for them nowadays, by chatting, without the need for downloading additional app on their smartphones because.

Nearly 40% of internet users worldwide prefer interacting with chatbots than virtual agents, and with major industries including retail and healthcare turning to digital technology, chatbots will likely increase in popularity moving forward.

“Chatbots are on the rise thanks to increasing demand from consumers to have a 24/7 digital experience. Chatbot architecture and design will evolve to the point that interactive AI will become standard for customer service. Major tech companies are pushing themselves to the forefront of retail, banking, and healthcare sectors with the development of advanced chatbots and machine learning technology”, says Business Insider.

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