Singaporean lender DBS has announced plans to launch a new service that will enable customers bank conversationally from mobile messaging apps.
The service, expected to be rolled out by the end of the year, will allow DBS’ customers to manage their money across accounts, track expenses and make payments by conversing with the bank in natural language from their preferred mobile messaging app.
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DBS Bank regional head of ebusiness Sandeep Lal said: “We know that our customers are spending time conversing on their favourite mobile messaging app, and we are immersing ourselves in the customer journey by making it easier and more convenient for them to engage us.
“With the launch of this service, they no longer have to leave their favourite mobile messaging app to conduct their banking. Customers can converse with their bank as they would their contacts, and we will handle the rest with a strong focus on security – it’s that simple.”
The bank will work alongside US-based Kasisto, a spin-off from SRI International, to offer the new artificial intelligence (AI) based innovation.
DBS Bank group head of digital bank Olivier Crespin said: “Today, Kasisto's KAI already powers an artificial-intelligent virtual assistant in DBS digibank, India's first mobile-only bank. We are looking forward to rolling out banking via messaging to our customers in our key markets and we believe they will find this service to be useful and relevant to them.”
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By GlobalDataThe bank will initially allow its customers to access banking services on Facebook Messenger through the conversational technology, with plans on to eventually enable the service on other mobile messaging apps such as WhatsApp and WeChat.
The service will initially be rolled out in Singapore and India, and be later launched in other key markets of DBS.
