The deployment of chatbots in the banking industry is flourishing. That’s because chatbots generate better results and superior customer experiences. Banks across the globe are using transactional bot for lead generation, payments, transactions and to build a self-service model for customers. Find below few major transactional bot usecases in the banking industry.

Lead generation

Chatbots are outperforming traditional lead generation strategies in the banking sector through their smart and seamless work. 

Here is how? 

With chatbots, banks can initiate direct business communication with their clients. And redirect them to the official channel. Furthermore, the recorded feedback will help banks know about the taste and preferences of the customers. The information will then be funnelled to the sales team to complete a successful sale of a product or service.

This method saves a lot of time for the banks by skipping processes such as requesting clients’ emails, mailing them back, and again waiting for a reply.


Banks are taking their omni-channel presence to the next level through chatbots. Here is a great example:

  • With chatbots, banks can integrate all platforms in one place for better and quicker access.
  • Deliver prompt and easy assistance across social media platforms such as WhatsApp, FB Messenger, WeChat, Viber, including instant messaging apps and websites.
  • Provide Real-time updates and support.
  • Customers can access information instantly.

Virtual banking assistant

There are many banks which use chatbots as virtual banking assistants. For example, a leading bank in the US has deployed a chatbot that assists customers with everyday banking needs such as payment reminders, current account balance, etc. Automated customer support ensures all customer queries are addressed immediately and aids higher CX.


Chatbots has the potential to respond to any number of customer requests at a given point in time. They can suggest resolutions and pave the way for customers to help themselves.

With chatbots,

  • Customers can get 24/7 assistance
  • Save time on calls
  • Banks can optimize operational costs


Customer feedback is very crucial for banks. Chatbots with Conversational AI can ask the appropriate questions to a customer without making them bored. The process is also faster and simple. That’s why chatbots receive feedback instantly, irrespective of the time.

They can help the bank to deliver the appropriate service to the customers and build a strong relationship between customers and banks.

API integration and Payments

Chatbots have made payment seamless across payment gateways in the banking segment through API integration. It can prevent risk of payment frauds, data theft, or any other unauthorized transaction.

Moreover, consumers don’t have to worry about recurring payments as chatbots reminds them about upcoming payments, etc through notification.