Banking Chatbot: Improving Customer Interaction Experience

Banking chatbot enables banks to provide fast, responsive, and efficient services to customers. With this technology, banks can serve customers in real time 24/7 without any time lag. This certainly provides a better customer experience while reducing the workload on customer service staff. However, the success of chatbot implementation lies not only in technological capabilities, but also in system design that can answer customer needs.

There are two types of information that a banking chatbot can handle, namely static and dynamic information. Here is a complete explanation of both and how chatbots can help customers in various scenarios.

Banking Chatbot Service

To integrate a chatbot into customer service, banks don’t need to build the technology from scratch. They simply need to find a reliable chatbot vendor, such as Sandeza Intelligent, who can provide a complete technology solution. The installation process can be assisted by the vendor’s technical team to ensure the system functions optimally.

Once the installation is complete, the next step is to determine the topics that will be included in the chatbot system. These topics consist of two main categories: static topics and dynamic topics, each of which has its function to fulfill customer needs. The following are recommendations for topics that are suitable for banking services.

What are Static and Dynamic Topics?

Static topics refer to information that is fixed or rarely changes. A chatbot can provide consistent and relevant answers to these topics. Examples are bank product information or app usage guides.

Dynamic topics, on the other hand, pertain to information that requires real-time updates. Examples include the latest balance check or the latest promo. By handling dynamic topics, chatbots can provide a more personalized and relevant service according to the customer’s current needs.

Static Topics in Chatbot for Banking System

Static topics are designed to provide basic information that customers often seek. Here are some topics that can be included in a banking chatbot system:

1. Bank Product Information
   A chatbot can explain various banking products, such as types of savings, deposits, credit cards, or investment services. This information can be delivered, completely, and easily understood by new and existing customers.
2. How to Deposit and Withdraw
   A chatbot can provide step-by-step guidance for making cash deposits at ATMs or through tellers at branches. This information is very helpful for customers who are using the service for the first time.
3. How to Transact Between Banks by Merchant
   Information on how to make interbank transfers, whether through ATMs, mobile banking, or internet banking, can be provided by the chatbot in detail. This also includes information regarding interbank transaction fees.
4. Guidance on Using the Mobile Banking App
   With chatbot integration, banks can provide interactive guidance on how to use the mobile banking app. From logging in for the first time, and utilizing available features, to resolving minor technical issues.
5. Chatbot Account Setup
   Assistance can guide customers to change their ATM PIN, update their mobile banking app password, or enable additional security features such as two-step verification.
6. Information on How to Apply for a New Card or Block a Card
   Customers can easily find out the steps for applying for a new debit or credit card, including how to block a lost or stolen card.
7. Loan Application Information
   The chatbot can provide information on the types of loans available, document requirements, interest rates, and how to apply. This makes it easier for customers to make financial decisions.

Dynamic Topics in Chatbot for Bank System

Dynamic topics allow the chatbot to provide services that are real-time and constantly updated. Here are some relevant dynamic topics:

1. Checking Current Balance Information
   Customers can immediately find out their account balance without having to log into the application or visit an ATM. Simply by typing a question to the chatbot.
2. ATM and Branch Location Information
   Through the chatbot, customers can quickly find the nearest ATM location or bank branch with the most updated information, complete with operating hours and route to the location.
3. Check Loan Payment Status
   Information about the loan payment schedule, amount to be paid, and payment status can be provided by the chatbot quickly and accurately.
4. Latest Promo
   The chatbot can provide the latest information on special promotions or offers from the bank, such as cashback, discounts at certain merchants, or lucky draw programs.
5. Check Foreign Exchange
   Rates In international banking, foreign exchange rates are important information that customers often seek. A chatbot can display the current rates for various currencies.
6. Recent Policy or Regulation
   Changes A chatbot can provide updates on new policy or regulation changes that affect bank services, such as maximum transfer limits or new rules on interest rates.

Benefits of Using a Chatbot in Banking

According to research from Tidio, the chatbot market in BFSI (Banking, Financial Service, and Insurance) is expected to reach nearly $7 billion by 2030. The use of chatbots in financial institutions can help customers save about 4 minutes per inquiry and about 90% of customer inquiries are resolved in less than 11 messages. These operational efficiencies will improve customer experience and satisfaction scores. Quoted by eMarketer, 43% of customers also prefer to handle their banking issues using a chatbot instead of going to a branch. Customers find it easier because their queries can be answered anytime and anywhere, without the need to go to a branch. In addition, chatbots also help reduce queues at branches and call volumes to customer service as questions are partially answered by chatbots, allowing human resources to focus on more complex tasks.

Sandeza Intelligent: A Chatbot Solution with Advanced Technology

One of the leading AI chatbots that the banking industry can rely on is Sandeza Intelligent. This chatbot has utilized Natural Language Processing (NLP) technology that allows the system to understand customer questions more accurately and provide answers in more natural language. With this capability, Sandeza Intelligent can handle a variety of topics, both static and dynamic, with a high level of customer satisfaction.

In addition, Sandeza Intelligent is also designed to continuously learn from interactions with customers, so its performance improves over time. With these advanced features, banks can improve operational efficiency, strengthen customer loyalty, and stay relevant in the digital age.

Summary

Chatbots have become a major necessity in the modern banking industry. With the ability to handle both static and dynamic information, chatbots provide fast, efficient, and accessible services at any time. Investing in chatbot technology like Sandeza Intelligent is a strategic move for banks looking to provide the best customer experience while improving operational efficiency. With NLP technology and high adaptability, Sandeza Intelligent is the ideal solution to the challenges of digital banking.