Top Chatbots in the Finance Industry
- 10 January 2023 | 1212 Views | By Abhinav Mishra
Chatbots are mimicking humans as FAQ solution providers that are online 24X7. Artificial Intelligence (AI) is changing the way businesses do business and what customers expect from them. AI is changing the face of most sectors. Financial service is one sector that has adopted AI with both hands. Many financial companies across the globe are experimenting with chatbots. In this article, we are covering the top 5 chatbots available for the financial industry.
Chatbot adds significant value to the user experience and helps businesses save money. Organizations no longer have to keep an army of customer support executives to handle small queries from customers. Chatbots can handle routine requests such as balance inquiries, pending bills, etc. Hence, reduce the workload of call centers employees.
Top Chatbots for the Financial Industry
Kasisto – Kasisto is an AI chatbot platform called KAI. They mainly work to create chatbots for financial institutions. Customers can use Kasisto chatbots to ask questions, view account details, make payments, and much more. It also helps users to manage their funds from multiple accounts. If the chatbot cannot solve customer queries, it will automatically send the conversation to the customer service department. The backend employees can integrate Kasisto’s chatbots on their desktops, apps, and dashboards. They have had a deep learning tool for business banking chatbots. It helps to train the new machine learning models.
Glia – It provides cloud-based omnichannel customer service for financial enterprises. It comes with rich features. It allows your executives to communicate and engage with customers through audio, video, and chat. Glia comes with a co-browsing feature that lets customer support executives guide customers in solving their queries. It replies to customer requests based on their conversations. Whether you are from banking, lending, fintech, or insurance, Glia chatbot is an excellent option to explore.
Tars – Tars (not to be confused with robot in Interstellar), chatbots are not only for the financial industry but other industries as well. However, their chatbot templates for the finance industry are the most popular. One of the advantages of using Tars chatbot is that they do not need any coding experience. The chatbots are extremely attractive in that they immediately catch users’ attention and invite them for a conversation and take the required action. Tars have a powerful AI integration feature. You can integrate it with your business application. Tars claim that with their chatbots, your conversation rate can increase up to 2-3X.
Zelros – It provides AI-based sales and marketing solutions for the insurance industry. If you are from the insurance industry, you should look at Zelros’s chatbots. It has a unique solution that captures information from voice conversations between insurance advisors and policyholders. Hence, their chatbots are really helpful in the claim and sales management process. It is an excellent tool for insurance advisors to serve their clients by cross-selling and up-selling personal insurance products.
Haptik – is one of the best emerging chatbot tools designed on smart skills technology. It is custom-made for the finance industry. It comes with a rich library of skills derived from the financial industry’s key learning and best practices. Haptik uses a Native Python-based code editor to perform all the tasks. Its financial services chatbots are used across multiple channels such as Whatsapp, SMS, Messenger, Google Business messages and allow seamless integration with IVR systems. It makes the customer experience delightful as the chatbots converse in a natural, personalized, and engaging manner.
Finn AI – It is a virtual banking assistant powered by AI. Finn understands banking at its core as it is designed to assist customers with a full suite of consumer banking services. It is useful for day-to-day banking, savvy alerts, customer support, budgeting, and more. Your users can use Finn chatbots to actively manage their money. Also, get reminders when bills are due, time balance alerts, saving advice, and much more. You can integrate with most of the instant messaging platforms available – Telegram, Facebook Messenger, SMS, Android and iOS apps, etc.
Hybridchat – is a live chat software that integrates chatbots and connects them bi-directionally to a messenger. It helps businesses to streamline banking operations and boosts digital adoption. Hence, it reduces costs for business by automating FAQs and customer service inquiries as customer support team size gets reduced. It is self-service software, which means that companies can start using chatbots easily without any hassle. It can help companies answer their customer queries and sell products. As a result, some companies are using it to sell insurance policies and credit cards.
Growthbotics – offers different services like Whatsapp API, CV, CRM, OCR, WeChat API integration, and AI security. It helps businesses reduce employee headcount and operational inefficiencies by 30%. Their chatbots include price/product recommendations and NLP-powered chat support. The company claims that 40% of repetitive accounting and finance tasks can be effectively automated using Growthbotics. The tool can help to recommend products and estimate prices based on data.
Finance chatbots are a must-have for an organization that sees its business scaling multifold in coming years. The best feature is that it can support any user. Also, it can handle multiple requests at a time. Hence, it decreases the waiting and resolution time – something your customers will love.