Biggest trends of the past couple of years have been messaging apps. This served as a pushing point to a high-pacing development of artificial intelligence technologies implemented in those, commonly called chatbots. The chatbot trend has now grown immensely to 80% of businesses already using them or planning to launch their own messenger bot by 2020.
Chatbot is a more advanced service than a messenger app — it incorporates AI, which allows a better user experience with smooth conversations and better interface. Bot makes messenger solution more UX friendly and complete. The most common way of chatbot use by businesses is to provide fast and lively answers to the frequently asked questions. It is a great tool for companies to facilitate the workload of their customer support teams. Major organisations are announcing their support of chatbots, and main messengers for chatbots (for example, Telegram) are actively investing in this opportunity.
Chatbots and banking services
Banking is a challenging market and there are more and more startups that build banking solutions available online and on mobile, creating a high competition for traditional banks. To keep up with the rivalry, banks need to step up their way of services provision — and the most contemporary solution is digital innovation. The pleasant aspect of creating chatbot solution is its cost-effectiveness. Chatbots aim to cut overall business costs up to $ 8 billion by 2022.
Perks of integrating chatbot do not end on cost savings. Chatbots are easy to use and more intuitive than a traditional mobile app for banking. It does not take your customer’s phone memory as no additional downloads are required! It is also proven that bot’s likeness of real communication with polite phrases greeting and thanking the customer are working towards advantage of a new bank account opening. Moreover, chatbots allow you to provide banking services 24/7, that is proven to a more likely customer attraction and retainment.
It can be built by banks themselves, however it requires extra working hands and therefore an extra budget. But if they cooperate with a third-party developer, the cost at all reduces to the service fee for the developer, who will also take care of all the technical support. Big banking services providers, such as JP Morgan, HSBC, SEB etc. have their own financial and labour resources to create and maintain their own mobile bots, but that does not mean it is anyhow more efficient than using a white label platform. With a specialised third-party software development provider, any financial institution is able to build a solution for their own chatbot in a shortest amount of time and at a decent price.
Crassula is a white label platform that provides payment and banking solutions, including chatbot integration. Our chatbot solutions can be supported on any platform that is targeted by our partners. Additionally, apart from providing banking operations, there is also a customer support integration for an exceptional user experience.
Interested in hearing more about Crassula solutions? Drop us a line on business@crassula.io or visit our website https://crassula.io/
