Artificial Solutions, a Netherlands-based natural language interaction (NLI) technology developer, has introduced a new mobile banking app Teneo to allow banks to get closer with their customers through intelligent conversation technology.
The banking app allows customers to chat with an automated virtual advisor in their natural language conversational style and get information about their account and also perform banking tasks such as money transfer or bill payments.
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Depending on the type of conversation, the virtual assistant also recommends customers with other services such as savings accounts, insurance or loans.
Artificial Solutions CMO Andy Peart said in a world where customers rarely visit a bank, let alone chat to the person behind the counter, virtual assistants offer organisations a way to bring back meaningful conversations that build relationships.
"With current banking apps if a customer regularly moves money from their current account to their savings account the bank only sees a transaction, there is no understanding of the customer’s requirements," Peart added.
"A simple conversational prompt such as ‘Saving for something nice?’ from the virtual assistant can turn that transaction into a mortgage enquiry, holiday insurance or car loan."
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By GlobalData
