Banking Chatbots on WhatsApp Revamping Banking CX

The rise of technology has revolutionized the banking industry, with many banks now leveraging cutting-edge technology to provide better services to their customers. One such technology is banking chatbots on WhatsApp, which has emerged as a popular tool for banks to engage with their customers and improve their banking experience.

Banking chatbots on WhatsApp are AI-powered virtual assistants that allow customers to conduct banking transactions and get answers to their queries via WhatsApp. These chatbots are designed to understand natural language, allowing customers to interact with them in a conversational manner.

Banking chatbots on WhatsApp work by leveraging AI and natural language processing (NLP) technologies to understand customer queries and provide appropriate responses. These chatbots can conduct a range of banking transactions, including balance inquiries, fund transfers, and bill payments.

To use banking chatbot on WhatsApp, customers need to add the bank’s WhatsApp number to their contacts list and send a message to initiate a conversation. The chatbot will then guide the customer through the transaction process, providing step-by-step instructions and responding to any queries the customer may have.

Banking chatbots on WhatsApp offer several benefits for banks, including:

1. Improved customer experience: Banking bots allow customers to conduct transactions and get answers to their queries quickly and easily, enhancing their banking experience.
2. Increased efficiency: By automating certain banking processes, banking chatbots can help banks improve their efficiency and reduce operational costs.
3. 24/7 availability: Chatbots on WhatsApp are available 24/7, allowing customers to conduct transactions and get answers to their queries at any time of the day or night.
4. Enhanced security: By conducting transactions through a secure messaging platform like WhatsApp, banks can ensure the security of their customer’s financial data.

Onboarding customers is an essential process for banks, and banking chatbots on WhatsApp can help make this process more efficient and streamlined. Banks can use these chatbots to collect customer data, verify their identity, and open new accounts without the need for customers to visit a physical branch.

By leveraging AI and NLP technologies, banking chatbots on WhatsApp can provide a personalized onboarding experience, guiding customers through the process and answering any queries they may have. This can help banks improve their onboarding rates and enhance customer satisfaction.

Banking chatbots on WhatsApp can help customers conduct a range of banking transactions, including balance inquiries, fund transfers, bill payments, and more. These chatbots can guide customers through the transaction process, providing step-by-step instructions and responding to any queries they may have.

By using banking bots on WhatsApp, customers can conduct transactions quickly and easily, without the need to visit a physical branch or use a separate banking app. This can help improve customer satisfaction and enhance the overall banking experience

Self-service options like cheque requests are an essential part of the banking experience, and banking chatbots on WhatsApp can help customers avail these options easily and efficiently. Customers can send a message to the chatbot, requesting a cheque book or making other service requests, and the chatbot will guide them through the process.

By leveraging banking chatbots on WhatsApp for self-service options, banks can reduce the workload on their customer service representatives and improve efficiency. Customers can also benefit from the convenience of conducting self-service transactions through a messaging platform they are already familiar with.

The Twixor CX automation platform is a powerful tool that empowers banks to deliver differentiated customer experiences through conversational banking powered by banking chatbots on WhatsApp. Twixor allows banks to automate their customer engagement processes, providing personalized and timely interactions with customers.

Using the Twixor CX automation platform, banks can create customizable chatbots that can handle a range of customer queries and transactions. These chatbots can be integrated with a variety of back-end systems, allowing them to access customer data and conduct transactions securely.

One of the key benefits of the Twixor CX automation platform is its ability to provide real-time insights into customer behavior and preferences. This allows banks to create personalized experiences that are tailored to the individual needs of each customer, improving customer satisfaction and loyalty.

Additionally, the Twixor CX automation platform allows banks to automate their customer service processes, reducing the workload on their customer service representatives and improving efficiency. This can lead to faster resolution of customer queries and complaints, further enhancing the customer experience.

A study by Accenture found that 77 percent of banks plan to use AI to automate tasks to a large or very large extent in the next three years.

In summary, banking chatbots on WhatsApp are a powerful tool that can help banks improve their customer engagement processes, enhance customer satisfaction, and reduce operational costs. By leveraging the Twixor CX automation platform, banks can create personalized and timely interactions with customers, delivering a differentiated customer experience that can drive growth and success.