Banks have gotten the message that messaging apps have taken over. Usage of the top four social networks is now surpassed by the top four messaging apps – Facebook Messenger, WhatsApp, WeChat, and Viber. These messaging apps have opened up their platforms for brands to build artificial intelligence-powered bots to join the customers’ conversations.
In this piece Mauricio Figueroa, Senior Associate, Business Consulting, shares that bank bots encourage deeper engagement than a standard banking app through the more accessible conversational interface. Additionally, that bots can reduce the cost to service customers, but also provide new forms of value.