In an increasingly digital world, financial institutions are continuously exploring innovative ways to enhance customer service. One technology that has emerged as a game-changer is AI chatbots. These intelligent virtual assistants are transforming the customer interaction landscape, revolutionizing how financial institutions engage with their clients. In this article, we delve into the road to exceptional customer service paved by AI chatbots in financial institutions.

Streamlined Customer Interactions

AI chatbots empower financial institutions to streamline customer interactions like never before. With their advanced natural language processing capabilities, chatbots can promptly engage in real-time conversations, addressing customer queries and concerns. This leads to reduced waiting times, faster issue resolution, and ultimately, improved customer satisfaction.

24/7 Availability

Unlike traditional customer service channels, AI chatbots can provide round-the-clock availability. Financial institutions no longer need to adhere to strict business hours, as chatbots can handle customer inquiries at any time of the day. This level of availability ensures that customers can receive assistance and support whenever they need it, enhancing their overall experience and trust in the institution.

Personalized and Tailored Assistance

AI chatbots are capable of delivering personalized and tailored assistance to customers. By leveraging machine learning algorithms, chatbots can analyze customer data, transaction history, and preferences to provide relevant and customized recommendations. This level of personalization helps financial institutions create a more engaging and individualized customer experience, building stronger relationships and fostering loyalty.

Enhanced Security

Security is paramount in the financial industry, and AI chatbots play a crucial role in ensuring customer data protection. Chatbots can authenticate customers, verify identities, and handle sensitive information securely. By adhering to strict security protocols, AI chatbots instill confidence in customers, assuring them that their financial information is safe and well-guarded.

Continuous Learning and Improvement

AI chatbots are constantly evolving and learning from each customer interaction. Through machine learning techniques, chatbots can analyze past conversations, identify patterns, and refine their responses over time. This iterative learning process enables chatbots to provide increasingly accurate and relevant information to customers, ensuring a constantly improving customer service experience.

Ready to embrace the future?

At Visor.ai we believe in delivering nothing short of the best user experience to all those who work with us or interact with our virtual agents. That’s why we are committed to consistently updating and releasing new features that enhance our platform’s capabilities.

Our primary objective is to assist you in automating and optimizing your Customer Service operations, enabling you to create even greater customer satisfaction for your company. By leveraging our cutting-edge technology, you can transform your customer interactions into seamless, intelligent experiences.

Why wait any longer to embrace the future of smart interactions? Take the leap and join us on this exciting journey! Contact us today to explore how our platform can revolutionize your customer service landscape and drive exceptional results for your business.

When it comes to Customer Support, we are used to interacting with human agents who help solve our queries. However, to keep up with the technological evolution and optimize and accelerate those same services, more and more companies have a virtual agent on their digital platforms.

Continue reading this article to learn what they are, their characteristics and the applications they could have in your organization.

What is a virtual agent?

A virtual agent (digital agent or chatbot) is a computer system with Artificial Intelligence (AI) programmed to simulate human conversations with its users via chat or voice. It’s widely used in customer service.

Because it uses NLP (Natural Language Processing) and Machine Learning, it can answer various questions instantly, 24 hours a day, 7 days a week.

In addition to responding to users, the virtual agent can be programmed to perform small tasks and facilitate transactions by automating repetitive processes. And when integrated with other systems, it could, for instance, make documents available automatically.

Therefore, it’s an excellent option for companies that want to strengthen their digital transformation and improve customer satisfaction while reducing operational costs and using team efforts for more complex and creative tasks.

What are the characteristics of a virtual agent?

Today, in almost every company, there is already some form of automated support in place to help customers solve their challenges autonomously. But how do we know if we are talking to an actual virtual agent instead of a more basic tool?

Well, virtual agents’ characteristics make them more functional and efficient. Let’s look at some of them below:

1. Personality and Appearance

 You can customize the appearance of a virtual agent according to your brand colors and even give it a face, unlike simpler tools that use the same template for every company.

Moreover, depending on your target audience, you can give it a more serious or laid-back personality.

These factors help create greater proximity with your consumers who, despite talking to a robot, gain some empathy and relationship with it.

2. NLP

Natural Language Processing technology allows conversational robots to understand and analyze human language, i.e., user questions and requests.

If a virtual agent does not have NLP algorithms implemented in its core, it must have some ground rules allowing it to communicate with users. Even so, it is still much more robotic and less flexible than if it had NLP implemented and misses the users’ intent when they ask for something in a different way.

3. Machine Learning

Machine Learning is the technology that allows chatbots to learn from the different interactions they have. So, the more extensive the knowledge base with diverse questions and requests, the easier for these systems to respond to what the customer wants.

As time passes and with more interactions, the more the virtual agent becomes efficient. So even if it can’t answer today, it will certainly do it tomorrow.

4. Context Awareness

In line with the above, these agents can understand more complex commands, understand the context and respond accordingly.

For example, if you say, “Is there any way to talk to you in person in city X?” the chatbot will understand that the customer is looking for a store or branch of your company in city X and will respond with the requested information.

5. Multichannel Support

Virtual agents are very flexible because you can integrate them into any platform you want, whether a website or mobile application like WhatsApp or Facebook Messenger.

In this way, you can reduce the contact flow by spreading it across different digital channels and allowing customers to choose how they prefer to contact your company.

6. Integration with other systems

As mentioned above, virtual agents are very flexible, and it is possible to integrate them with various systems that companies use daily, namely CRMs such as Salesforce, among others.

This allows you to customize interactions further, providing complete information to users while collecting data to improve your services even more.

7. Security and Privacy

Regarding security and privacy for users and companies, these conversational tools are developed following very strict data protection rules, thus ensuring compliance with established regulations.

What are the applications?

Most chatbots or virtual agents are used for customer support. But they can play many other roles besides helping customers solve their issues.

One area that benefits from implementing chatbots is, for example, Sales and Marketing.

These intelligent systems are a great tool for interacting with potential customers, answering their questions, suggesting the following steps, and providing personalized recommendations based on their interests. In this way, it generates business leads, qualifies potential customers, and promotes products and services in a fully automated way.

Virtual agents can also be used as tools for education and training. For example, they can provide educational content such as video tutorials and manuals and even help test acquired skills.

In addition, they can be sources of entertainment when interacting with users and capturing their attention. Depending on how you customize them, they can tell jokes, play games, etc.

In short, virtual agents can be used in multiple contexts and various industries, increasing customer satisfaction.

What are the advantages of having a virtual agent with Artificial Intelligence?

Companies that search for alternatives to innovate their Customer Support want to keep up with the trends and the digital age. In addition, they are the ones who are always concerned with providing the best possible service to their customers.

Virtual agents can offer you much more than digital transformation. They can increase customer satisfaction, which any company with a customer-centric strategy wants.

These agents with Conversational AI allow you to:

–  Be available 24/7

Your customers may need to contact you anytime, and sometimes working hours are not enough or the best time for them.

 Remember that your customers also work, and the time they have left to call or stop by to resolve issues may not be compatible with your work schedule.

So be prepared for those situations at any time, every day of the year.

 Of course, this does not exclude having your human assistants available. In fact, using the Live Chat feature, they should answer the questions that the chatbot could not. In any case, for many purposes, the chatbot does not leave your customers without support.

– Deliver an immediate response.

Waiting times to get an answer are one of the things that customers complain about the most. In our world, nobody has the patience to wait anymore.

New generations are used to getting immediate answers, and if not through your customer service, then through other means, which may have less reliable information.

With a chatbot, there are no more waiting times because they can communicate with countless people simultaneously and immediately. They just need to have the necessary information in their knowledge base.

– Personalize interactions based on the user

As your virtual agent talks to users, he will collect information such as their name, age, what products they have, or services they use.

For example, referencing your customer’s name during the conversation will make them feel unique and not that they are “just another customer.”

The same applies when you recommend other products or campaigns to them that are related to their profile and are not just suggestions sent in bulk.

A personalized service according to your customer’s profile and data is halfway to making your customer more engaged with your chatbot.

– Be consistent in your answers.

Just as it has happened to us (we believe it has happened to you, too), there are times when we talk to a brand representative who gives us certain information. However, when we talk to another, they tell us something completely different.

People may have different understandings of what the customer wants and propose different solutions consequently. However, with a virtual agent, you can maintain consistency in the answers, regardless of how the user has asked.

Even if the virtual agent is unsure about the best answer, it allows the user to choose the topic they need.

– Gather Metrics

In addition to the information, we discussed earlier, such as name, age, and others, chatbots are also great tools for collecting other data. Namely, topics customers have more difficulties with, services/products they use the most, products they search for more often, and what kind of actions they do in the chatbot (memberships, simulations, documentation, requests).

Collecting this data allows you to improve the virtual agent’s information flows and enhance your marketing campaigns.

– Scale the solution

This type of agent is always associated with an AI platform where you can parameterize the different characteristics of your chatbot, from appearance to increased efficiency and artificial intelligence.

You can also scale your solution on this platform by integrating it into different contact channels beyond your website, such as WhatsApp or Facebook Messenger.

You can also include your human assistants by enabling chat-based customer service. By chatting, they can talk to more than one customer at a time, increasing the service’s speed and efficiency.

An agent made for you

At Visor.ai, we care about providing a solution that meets all your requirements, be it customization, use cases, security, etc., and we are always attentive to your needs.

We update and release new features regularly so that whoever works with our platform or interacts with our virtual agents always has the best user experience.

Our focus is to help you automate and optimize your Customer Service and have customers even more satisfied with your company.

What are you waiting for to enter the future of smart interactions? Contact us!

In addition to helping automate customer support, one of the goals of virtual assistants is to mimic a human conversation.

Increasingly more users value immediate service and the possibility of solving their issues anytime and anywhere. Therefore it is crucial that they have good interaction with virtual assistants.

That said, having an engaging script and the least robotic possible is essential.

What is a virtual assistant script?

Scripts are often associated with theater plays or movies; they are texts containing all the dialogues and actions that the actors will perform.

In general, as it is a document with guidelines to be followed, it can be used in other situations, in this case, by virtual assistants. Namely, a script for virtual assistants contains (or should contain) all possible interactions between the chatbot and the user, from the beginning to the end of the conversation.

How to have a good script for virtual assistants?

For a virtual assistant to provide the best possible user experience, it’s essential to have Artificial Intelligence and a good script.

The first point allows the chatbot to communicate efficiently with users. With the help of NLP (Natural Language Processing) and Machine Learning technologies, these conversational systems can understand requests and react accordingly.

The second point ensures that you provide effective value to your customers and the success of your chatbot.

To have a good script, follow the tips we have for you.

• Set up the dialogue tree

To ensure that your chatbot offers value to your customers, you must include all questions they may have about your product/service in its knowledge base.

The possible questions and their corresponding answers should be entered in your conversational flow (dialogue tree). That is, into how the information is presented to the user.

Imagine you’re part of a banking institution, and the most frequent questions from your customers are related to service payments, transfers, and credit acquisitions.

In this case, the best option would be to show the information about these three cases right at the very beginning of the conversational flow. However, you should assure the remaining customers that they can ask about any other subject. In this way, you ensure that all your customers can get an answer, those who look for the most demanded information and those who want to discuss other topics.

• Keep it short

The main reason users talk to brands’ virtual assistants is the immediacy of the answers. So take that into consideration.

Don’t overdo the answers. Give preference to short texts but with the necessary content for the customer to be oriented.

Too long messages make customers read the information diagonally. This is not beneficial for them, nor you, because if they don’t solve their questions through the chatbot, they will use another contact channel. And that is not ideal.

Still, if you have to write about more complex topics, divide them by sub-topics. On the one hand, it’s easier to process the information. On the other hand, if they’re only interested in one sub-topic, they can choose to read only about it.

• Add personality to your virtual assistant

Just as the friendliness of a person who answers the phone can influence our conversation, the same happens when we talk via Chat.

In this case, we interact with a robot, not a person. However, the logic is the same.

One challenge of talking via instant messaging is that the person on the other end may read the message we send with a tone that isn’t what we want to express.

For this reason, it’s vital to give personality to your virtual assistant and always keep a friendly tone in the conversation.

Use emojis, punctuation marks, or even GIFs and images that help convey the feeling of your virtual assistant.

Another good option to give personality to your chatbot is to include small talk interactions and have your chatbot mention some more mundane topics.

Always pay attention to the characteristics and interests of your target audience to set the tone and maximize success.

• Present your chatbot

Just as when you meet a new person and both parties introduce themselves, do the same with your virtual assistant.

In the beginning, tell your users to whom they are talking. If your chatbot has a name, state it. Don’t hide that they’re talking to a bot.

Also, ask to whom the chatbot is addressing. This way, you can use the name of the person in question throughout the conversation and humanize the interaction even more.

• Customize according to the user’s profile and make suggestions

Using the customer’s name during the interaction is a great way to personalize a conversation. You can also draw on other user data and direct them to questions that might interest them specifically.

Imagine you have an insurance company with a running promotion that benefits anyone between 25 and 30 years old that takes a car insurance simulation.

With the information you collect with your virtual assistant, you can easily recognize who these users are and refer them directly to that campaign.

• Offer a hybrid service with human support

Virtual assistants are an excellent tool for Customer Support automation. However, sometimes they may need help understanding what the user wants, or simply the topic they want to address is too advanced or complex for a chatbot.

In such cases, have human assistants available via Live Chat. Then, you can help your customers and prospects solve questions and issues in real-time without making them use another contact channel.

Build Your Virtual Assistant on This Platform

At Visor.ai, you can build the perfect script and virtual assistant for your company in a single platform.

Through simple and intuitive tools that don’t require technical expertise, you can set up all the components of your chatbot:  from its looks and personality to the knowledge base (user questions and answers). And you can also include small talk interactions, which will make your conversations much more dynamic.

Additionally, this platform can integrate with the systems you already use in your company, allowing the automation of repetitive tasks, such as producing certain documents with no human intervention, among other possibilities.

To make your next virtual assistant a reality in record time and with an ROI that will surprise you, contact us and experience the future of intelligent interactions!

In recent years, the “As a Service” business model has gained ground in the market for all its advantages. But did you know that it can also be applied to chatbots? Discover the concept of “Chatbot as a Service”, its unquestionable value, and how you can use it in sectors such as banking and insurance.

What does “As a Service” mean?

As we mentioned, “As a Service” has grown exponentially. We find it in the form of Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS), among many others.

This business model is mainly associated with technology companies and refers to a service provided via the web. In other words, there are no on-premises devices because everything is hosted in the cloud.

In this way, the companies that hire these services don’t need to worry about installing, maintaining, and updating the systems, nor purchasing hardware and infrastructure for hosting them. Then, you only need an internet connection to access any product or service.

In addition, most do not require a license; the investment is made in the short term, on a subscription basis, depending on what is effectively needed.

What is “Chatbot as a Service”?

“Chatbot as a Service” has the same premise as the other “As a Service” models. That is, they are provided via the web. However, it doesn’t fall into the “Platform as a Service” category. Indeed, it’s a platform we can customize according to our needs, but it includes much more, that is to say, the “end product” – the chatbot.

Chatbots are conversational robots generally used by medium and large companies to automate repetitive tasks and requests, optimizing customer service.

They’re considered digital contact media, mostly found on companies’ websites and instant messaging applications, such as Facebook Messenger or WhatsApp.

Learn here how a chatbot on WhatsApp can be an asset to your company.

They are solutions that use Artificial Intelligence to have a greater response efficiency and thus also optimize the work of customer support teams.

The model of “Chatbot as a Service” is closely linked to the theme of digital transformation since it allows companies to merge easily into the era of digitalization. They can do it by offering their customers new contact channels with no additional operational costs.

What are the benefits of this business model?

• Cloud-based

Simply put, when we say something is “in the cloud,” we can access it from anywhere in the world through the internet. That is to say; it is not something physical that we can only use if we are in the same location as the product or service.

“Chatbot as a Service” works the same way. They aren’t “physical” systems that you can only access if you are in your company’s office, for example. They are cloud-based solutions.

This way, the supplier can provide the service seamlessly from one location at the end of the globe to your company at the other.

• Reduced costs

Because it’s in the cloud and not something “physical,” the associated costs are much lower. For example, you don’t need to worry about issues such as maintenance or having a specialized team to handle the solution.

• Scalability

Another advantage of this model is the possibility of autonomously escalating the solution to new use cases without hassle, having total control over the platform.

Additionally, it allows easy integration with other systems your company already uses, such as CRM platforms.

• ROI in no time

Besides being very quick to implement, the ROI (return on investment) is almost immediate since you can see the results in just a few months.

From the moment you implement this type of product, you can see improvements in your teams’ performance and customers’ satisfaction.

• Fast Implementation

As we said in the previous point, “Chatbot as a Service” is promptly implemented since everything happens over the internet.

Just parameterize the information you want the chatbot to have, make the integrations with the systems you wish, and you’re ready to automate your customers’ most frequent requests and questions.

• Automatic Updates

Thinking about updates is something you don’t have to do.

There will be updates, indeed, and the solution company you invest in will do them periodically to improve the product they are providing. But you don’t have to worry about anything. You’ll be notified when they occur; but, you won’t even have to involve your IT staff.

Also, suppose the provider is a company focused on customers and continuous improvement. In that case, many of the updates and new features will take your feedback and suggestions into account.

“Chatbot as a Service” in the Banking and Insurance Sectors

“Chatbot as a Service” is an excellent option for those who value a technological service that is efficient, innovative, and doesn’t bring headaches.

They are an opportunity to provide a 24/7/365 service where the user can solve their doubts immediately and assertively. In the event of more complex cases, it is possible to count on the help of human assistants, accessible through Live Chat.

As experts in the banking and insurance sector, we at Visor.ai have helped many companies automate their Customer Care services. Here are some examples of our solutions’ different applications:

In Banking

• Transactions
• Opening Accounts
• Applying for a credit
• Financial counseling

In Insurance

• Provision of documents (insurance documents, insurance policy)
• Hiring insurance
• Claims’ communication
• Changes in policies’ coverage

“Chatbot as a Service” at Visor.ai

At Visor.ai, we provide a “Chatbot as a Service”. It’s a cloud-based solution based on Artificial Intelligence coupled with a low-code platform. As a result, anyone with no technical knowledge can parameterize it.

In addition, all our customers’ chatbots have reached 80% efficiency, meaning eight out of 10 requests are solved without human intervention.

In four simple steps – configure, test, implement, and improve – you can have a technology solution that sets you apart and puts you at the forefront of customer service.

Talk to us and learn more about our “Chatbot as a Service” model.