Chatbots provide users with the ability to use a conversational interface to facilitate interaction with companies and help accomplish tasks. As Artificial intelligence continues to power automatic solutions, conversational tools like chatbots have now become a sensational surge amidst Credit Unions who are on the lookout to exceed in the intersection of business values and member expectations. Here is why.
- Chatbots perform the basic task of asking and answering questions that are relevant for the members.
- The experience is better, faster, and reduces the need for employment of human staff where it is not required.
- Members can self serve across multiple channels. The support required is low. Chatbots also provide access to data insights and lead to an increase in product engagement.
- They interact with the members through simple text exchanges and can recognize patterns in text, thus performing automated functions.
Chatbots can be deployed for customer care functions or can be deployed as virtual assistants. We list below the top Chatbot technologies for Credit Unions.
1. AgentIQ
The Agent IQ personal chat services allow members to select their personal associate for help, guidance, and advice, and to engage with that associate anytime and anywhere through mobile and web.
State-of-the-art augmented intelligence assists and guides associates in creating an outstanding member experience while creating efficiencies and allowing associates to focus on what is important.
Features
- Members Can :
- Select their personal associate
- Change associate (if desired)
- Receive a notification when their associate has sent a message
- Share pictures or files
- Create a one-stop-shop for engaging with their credit union
- Associates can:
- Proactively or reactively connect with their members
- Take advantage of AI recommended responses and contextual marketing materials and documents
- Share files and documents
- Invite subject matter experts to participate in conversations
- Keep helpful notes and reminders
- Leverage customized quick responses
- Invoke AI-powered workflows for data collection and verification
- Managers can:
- Monitor and participate in conversations
- Assign members to associates
- Configure team
- Upload marketing materials and documents
- Monitor performance through a comprehensive reporting portal
- Send notifications to selected or all associates
- Obtain real-time insight into conversation topic
- Create and configure AI-powered chatbots and workflows
2. Actionable Science
Actionable Science is an AI-powered chatbot for HR, IT, Agent, and customer helpdesks. The chatbot performs functions such as – Conversing and identifying issues, resolving tickets, performing basic triaging, and creating tickets for the right users.
Features
- An advanced knowledge management system.
- Inbuilt ticketing system and case management capabilities.
- Process orchestration ability.
- Live chat functions and uses Microsoft Technology.
- Buying process support and post buying services.
- Collaboration options with human staff are available.
3. [24]7.ai
[24]7AI provide with a conversational chatbot that is visually rich and is capable of carrying out contextual conversations. It has been claimed to be an AI with an EQ as it can understand the context and engage in simple to complex conversations.
Features
- The single platform can enable cross-channel engagement at scale.
- AI-driven intent prediction.
- Capability to converse in natural languages.
- Self-learning capabilities.
- Seamless transfer from chatbot agent to live agent.
- Shows full images, and interprets emotions.
- It can be customized for appearance and branded user experience.
4. BOLD 360
Bold 360 provides with the collaboration of AI chatbots and consultants, hence leading to increased productivity. It is a modern and insightful self-service solution that is perfectly assembled.
Features
- The intelligent chatbots are dialogue-oriented and proactive
- The natural conversations can happen across multiple channels, at any place and time.
- The customers can easily place orders, find answers, and solve problems.
- The consultants can obtain useful actionable insights and recommendations.
- Interacts with users in a personal and proactive manner.
5. Cleo
Cleo chatbot is a Facebook messenger bot through which users can easily keep track of their expenses and manage them. It links with your bank account and provides recommendations like how much income can be saved based on the budget you have set and that amount of money can be saved.
Features
- The ‘smart save’ option automatically sets aside money that can be saved.
- Understands and tracks the spending patterns of the users.
- Feedback provided on wealth management through ‘hypes’ or ‘roasts’ based on the option of the user’s picking.
- Insights can be asked for by users across multiple accounts and credit cards.
- Financial knowledge can be gained through quizzes and games.
- Additional features like cashback or salary advance can be obtained through subscribing to Cleo+.
- The application is free of cost to use, and only the Cleo+ service has to be paid for.
- It is regulated by the Financial Conduct Authority.
6. Posh
A multi-owned Conversational AI CUSO that spun out of MIT's AI Lab, Posh is composed of Masters and PhD talent from institutions like MIT, Harvard, Google, RedHat, etc. and helps credit unions better connect with members through more natural conversations. Posh’s intelligent chatbots answer FAQs and automate contact center workflows across multiple channels including web, mobile, and SMS
In addition to chatbots, Posh’s AI platform offers Conversational IVR. Basically a bot for the phone, Conversational IVR replaces clunky dial pad menus with voice-driven experiences. Most companies greet callers with “Press 1, Press 2, Press 3,” for various topics. Companies that use Posh’s phone technology, on the other hand, answer calls with “Hi! How can I help you?”
Features
- Use cutting-edge machine learning and natural language processing
- Leverage patent-pending IP to understand the context and maintain memory
- Handle both “front of the pin” and “behind the pin” workflows
- Tackle external (helping customers) and internal (helping employees) use cases
- Integrate with all API-friendly systems such as cores, digital banking, live chat, etc.
- Enable users to create and edit content via our CMS tool
- Escalate to live reps or integrate with live chat systems
- Display robust analytics
7. Yellow Messenger
Yellow messenger provides a cognitive engagement cloud platform. It provides automated core business processes like customer support, customer, and employee engagement.
Features
- Ability to provide you with rapid speed to market, through pre-deployed APIs which makes any deployment an easy task.
- It provides market automation, can capture leads, launch smart promotions, Answer FAQs, and engage with users.
- It also provides features like sales automation, can qualify leads, schedule meetings, collect sales analytics, and helps in insightful upselling and cross-selling.
- It is possible to integrate with any platform of choice and converse in any language.
- User management to enable enterprise adoption.
CONCLUSION
Customer experiences that drive revenue are built on conversational experiences that are rich and effective. Chatbots can also help automate essential services, reduce costs, complement human employees, and improve customer engagement. The actionable insights are easy to access which can help you provide effective solutions to your members.
While choosing your chatbot service provider, take care of the following-
- You need to have content that is best suited for your credit union such as multi-step conversations, and you need a team that can do so for you.
- Chatbots require constant and consistent analysis and optimization, to upgrade and move forward with time. It is crucial to ensure this feature.
- Banking Technology such as sentimental analysis or natural language features so that it is easier to connect with and understand members.
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