In a marketplace where everyone from the tech giants to start-ups are vying for a piece of the financial services action, conversational AI has the power to place financial organizations back in charge.
Conversational AI allows you to engage customers and build a relationship over automated channels. For example, 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.
However, a simple conversational prompt such as “Saving for something nice?” from a Teneo virtual assistant can turn that transaction into a mortgage enquiry, holiday insurance or car loan.
With each conversation you learn a little more about your customers, their likes and dislikes, plans for the near future, or changes in circumstances. All this information allows you to deliver a proactive personalized service that has customers choosing you as their preferred financial app.
A Teneo intelligent virtual assistant can do so much more than understand your customers. It can help to consistently deliver the right information – including risk warnings and disclaimers, fill out forms, move money, even integrate with third party systems to offer partner products.
Security and data privacy is a concern for any business. But for banks, your reputation relies on it.
Teneo is a conversational AI development platform built for enterprise use. Alongside other enterprise features that are typically missing from comparable products such as collaboration tools and version roll-back we help you meet compliance and security obligations.
Teneo contains advanced data management tools that enable you to anonymize and pseudonymize conversational data when required, but still derive value from the information. Its open flexible architecture allows organizations to meet their own exacting security conditions, across multiple geographies and legal requirements. Your conversational AI application can even be self-hosted, instead of running in the cloud. The choice is yours.
In addition, with Teneo you own the data. There is no “middle-man app” helping themselves to your customers’ conversations to try and displace you into just a conduit for a financial transaction. With Teneo, organizations receive the entire conversation so that you can use the information to personalize the conversation further, discover the latest trends, and receive actionable business insight.
Chatbots: The Definitive Guide (2020)
Conversational AI gives you the power to differentiate your business. If you’ve only ever used it to help customers reset their passwords, now is the time to widen its reach.
Teneo allows customers to interact with you over any channel, device or service and in over 35 languages. They can switch between devices (and languages), even in the middle of a conversation. While competitors may make similar claims, only Teneo enables you to typically reuse 80% of the original build.
Perhaps a region has a lot of foreign workers that would benefit from a bank they understood. Maybe you want to increase accessibility to disabled users. Or simply reach a young demographic that enjoy virtual reality. Conversational AI allows you to interact with ease, while always ensuring a consistent and compliant response is given.
With conversational AI you can learn exactly what it is your customer needs, even though the two of you no longer talk face to face.