The benefits of using chatbots on banking sites and how you can build a chatbot.
Banking has never been the same, thanks to online banking. Online banking removed the hassle of going to the bank to do personal transactions. This has turned hours of waiting in line into a few minutes of logging online.
But when it comes to saving more time, what really changes the game is the introduction of chatbots. Chatbots, or AI chatbots, are software that uses artificial intelligence (AI). This helps them understand what a customer wants. They provide the desired result for the customer without the need for a live agent to interact with them.
Banking sites and other institutions started using chatbots to improve their customer service. But aside from that, what are the other benefits of using chatbots on banking sites? Read on to find out!
What are the benefits of using chatbots on banking sites?
So what good comes from using chatbots? There are countless benefits that you can get from using chatbots on banking sites.
Here are 5 benefits that you can get from them:
1. 24/7 digital customer service
Customers don’t need to wait for the next banking hours to raise a question. This is already covered by the 24/7 digital customer service that chatbots offer. The chance for a customer to open an account also increases when chatbots are present.
Potential customers can move on to a different bank if they can’t find what they are looking for. Thus, investing in a chatbot can improve customer service and boost marketing sales.
Moreover, chatbots provide a quicker response time in answering inquiries in real-time. This is a big factor for providing the best customer service, thus, having more gains than losses.
2. Personalized customer experience
Customers want to feel special, especially when they are availing services. Having a personalized customer experience brings in positive customer satisfaction. Chatbots can use the customer’s data to provide an answer to a customer inquiry. This is possible as long as the customer agrees to provide their data. The more data that the chatbot can have, the more accurate its responses will be.
3. Lessen bank visits
Banks have a long waiting time. This is because most banks are only open for a specific time of the day, which is usually during office hours. Customers have to take a leave from work or go to the bank during their lunch break to make it to the cut-off. This results in lines building up, which ends in a poor customer experience.
But customers no longer have to waste their precious time waiting in line. How is that possible? Customers usually go to a bank because of money transactions, or if they have a simple inquiry. But chatbots can already handle simple inquiries, which lessens bank visits.
4. Decrease phone calls
Nowadays, customers do not like to do bank transactions using phone calls. Bank calls are notorious to have a long waiting time, and customers do not enjoy waiting for a long time.
By using chatbots, customers no longer need to call their banks. This is because most inquiries can already be resolved online. This makes everything easier and more convenient for the customers. Thus, improving the customer’s experience.
5. Faster data collection
If the chatbots’ scripts are set right, data collection becomes faster. It is important to know what data to collect when building a chatbot.
This also lessens the need for a live agent to get a customer’s personal data. Instead, chatbots can already do this in their place. This allows them to focus on more complex requests and inquiries.
How can you build your chatbot?
Now that you know what are the benefits of using chatbots on banking sites, how can you start building one?
Here are 3 steps that you can follow when building your chatbot:
1. Choose the right chatbot software
Before anything else, it is important to do your research. There are many that you can choose from in the market. But there are factors to consider in choosing the right chatbot software.
It is good if the chatbot can support several languages. This is important if you are providing your services to customers worldwide. Then it should also have the ability to be deployed on different devices. It should be available for a customer using a Mac or Windows PC, or even a mobile device, may it be for Apple or Android.
Acquiring the right software is always the starting point of building a chatbot. So make sure that you have considered the factors listed above to get the most out of your chatbot.
2. Personalize your chatbot scripts
Your chatbot should have the right scripts in it. This provides a more personalized experience to your customers. This is to get the most out of the interaction that the customer had with the chatbot. Thus, providing more accurate results and responses. At the same time, make sure that you put some personality into your chatbot to make it stand out. Yes, customers may not be interacting with a live agent. But this shouldn’t stop you from giving them a positive and personalized experience.
3. Gather reviews
Before deploying your chatbot, ensure that you have gone through a series of testing. You can also ask your customers to take part in beta testing. This will allow you to get specific questions from them. As you collect more questions, your chatbot will continue to learn. Thus, allowing it to provide better responses.
But don’t stop there. You can still keep gathering feedback even after deploying your chatbot. To do this, make sure that you integrate a survey question or form at the end of every chatbot script. This will enable you to collect feedback from your customers.
The use of chatbots can improve a customer’s experience on banking sites. It all boils down to how you plan to build your chatbot. Remember, customer satisfaction is always a priority when providing the best service. So don’t stop looking for ways to improve!