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Chatbots: Just a one text away

Chat with a chatbot and get your banking query clarified.

If you thought that a conversation can only be between two individuals, think again? But with the rise in technology, conversation is now possible between humans and artificial intelligence. Chatbots are channels through which the communication between a man and a machine has been made possible.    


What are chatbots?

It is an artificial intelligence (AI) software that is programmed to carry a conversation (or a chat) through messaging applications, websites, mobile apps etc. Chatbot is a promising technological advancement in the field of communication between humans and machines. In the current scenario, it is based on a question answering system. While chatting with a chat bot, the person has to pick up a question that closely resembles the query. It only represents a natural evolution of a question answering system where responses are formed to questions in natural language.

Importance of chatbots

It has been used in several companies in several sectors to streamline the interaction better customers and the company. It also offer companies to improve the customer experience and operational efficiency. 

In order for it to perform the best, human support plays a major role in this process. Human role is important in training, optimising, and developing.

How has banks used chatbots

Banks have started using AI-based chatbots to simplify their process and delight their customers. Many banks, as a result of a chatbots, are able to service a larger mass and increase their turn around time of their queries.  Indian banks such as Kotak Mahindra Bank, HDFC Bank and Axis Bank has been in forefront of integrating chatbots with the traditional banking.  

How does it help the customers?

In the recent times, chatbots have now become capable of having smarter and complicated conversations. It means that they can handle questions are mostly repetitive in nature. Not just the bank’s website, it also available in social media profiles such as Facebook, Twitter and other platforms. People can ask their queries directly through the platforms and get solutions or they can be directed to the right person.

Another way that AI-based bots has helped customers is with Interactive Voice Response (IVR).  With this service, customers don’t have to wait for 20 minutes to get in touch with a call centre executive and you can get instant access through a voice-based conversational interface.

Let’s look at some of the banks that have chatbots:

Keya by Kotak Mahindra Bank

Keya is the name of the chatbot of Kotak Mahindra Bank. She is available on Google Assistant, the virtual assistant made by Google. Customers can ask her about accounts, loans, cards and insurance etc. Customers can give the service request for a variety of problems. Some of the service requests  include blocking and unblocking card, applying for a debit card, checking balance, last five transaction, locate the nearest ATM etc.

Eva by HDFC Bank

Eva is the AI-powered chat bot of HDFC Bank. According to the bank’s website, customers will be soon able to converse with Eva through HDFC Bank’s in-branch robot IRA. The bank is also collaborating with Microsoft’s Cortana, Apple’s Siri and Whatsapp. Regional language is one of the key focus areas for a lot of banks. HDFC Bank is also trying to communicate with their customers in their regional language through Eva.  Soon, Eva will also be able to help you with bill payments, flight and hotel booking etc.

Aha by Axis Bank

Axis Aha is the digital assistant from Axis Bank. It can help you to answer customer queries through voice and text. It can also help customers execute services like blocking a card, doing a recharge etc.  In case Axis Aha is not able to answer your query, it can route you to an agent. Continuous learning and feedback makes sure that the chatbot responses are on spot.    

The life around us is changing very fast. And so has the banking system. Chatbot has become the new tool to interact for your banking problems. In case, you are looking to get your banking query clarified, a chat bot may be able to help you.  


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