Chatbots for Banking Market continues to expand with ABAKA launching AI-powered ready-to-go financial advice chatbot as a service solution
Chatbots for Banking Market is a new service provided by a number of banks through their online banking systems. The main aim behind this is to automate tasks that are repetitive and tedious, which would otherwise require staff to perform. One of the key advantages of chatbots is profound use in customer service. Chatbots offer numerous advantages when it comes to customer service offerings including no wait time, cost optimization, improved self-service, minimized agent transfers, and quicker issue resolution. Chatbots can send notifications to customers, provide balance data, suggest how to save money, and provide credit card reports. Recently, in May 2020, the National Payments Corporation of India (NPCI) launched an artificial intelligence (AI)-based chatbot named PAi to create consumer awareness regarding its products such as FASTag, RuPay, UPI, and AePS on a real-time basis. Hence, such factors can augment growth of the chatbots for banking market. Chatbots...