They are enabled to interact intuitively. This measurably improves the customer experience. Financial service providers create a flexible and personalised service that significantly increases the chances of building successful relationships with their customers.

Conversational Banking integrates messaging apps and voice assistants into the customer experience of a bank. Including all advantages that text chat, voice chat, and graphic elements offer for successful communication.

This requires a high investment in competent employees, that are and remain indispensable for customer service. In addition, a bank can use a digital assistant for routine matters.

An AI-based chatbot can e.g., answer frequently asked questions. That way, routines get completed for a fraction of the previous costs, and at the same time, the customers' waiting times get eliminated.

Employees are now enabled to focus on complex questions and problems that require a lot of empathy and judgment.

This trend was triggered by a shift in mobile communication from SMS to instant messaging. While many industries have been quick to explore the possibilities of messenger apps, the financial sector has been somewhat reluctant, but is now catching up.

You can set the right course for a future-proof platform on which your customers can use text and voice chats for their concerns as a matter of course. This requires experts like voice user interface designers or computer linguists.

With their skills, you open the possibility to design a trusting interface with which customers are happy to enter a dialogue.

Customers spend a lot of time online on their computers or smartphones. And the use of messenger services has increased significantly in recent years.

This is a good opportunity for banks to adapt to their customers' forms of communication. Because many people do not want to be tied to a specific communication channel, but rather choose their preferred form of communication. 

A customer dialogue offers more possibilities than, a mere presentation of text on the website. That is because conversations can convey many more emotions.

And here comes a crucial point: Since there are fewer and fewer bank branches, new ways of getting close to customers are heavily needed.

Here is where a conversational interface offers you a unique opportunity. For example, as a chat application on the homepage or integrated into the banking app. A cleverly designed conversational banking platform processes customers' concerns centrally and in a network

At Ideabay.ai, we believe in conversational banking as a reflection of how customers will be integrating banking into their future daily lives.

Not exclusively via mobile phone, video, or in person – but through a combination of all these things. This requires a multimodal approach to conversational banking.

The best conversations are still people-to-people conversations. But: they can be facilitated and supported by technology in the best possible way. Conversational banking combines linguistic know-how and AI with the human ability to get in touch with other people.