Fintech partnerships provide the greatest value in creating a better customer experience, according to 30% Bank Innovation‘s February poll takers.

Of the 90 poll-takers, 27 people responded with this answer. Virtual Assistants are one way in which fintechs can help banks to improve customer experience. Driven by AI, virtual assistants allow customers to conduct simple daily transactions like checking their balance or transferring funds, without having to contact customer service or visit a bank branch.

And while some banks create virtual assistants in-house, others partner with fintechs to do so. Fintechs like Kasisto, and Clinc, among others, are companies that create virtual assistants specifically for FIs. In early January, TD Bank rolled out its virtual assistant Clari, which was created by New York-based Kasisto.

“Virtual assistants are one way for banks to improve customer experience by engaging with customers in a seamless way through a digital channel,” Eran Livneh, VP of marketing at AI-focused PFM provider Personetics, told Bank Innovation. Personetics worked with Royal Bank of Canada to create Nomi, which was launched early last year.

Some virtual assistants like Bank of America‘s Erica even provides customers spending-insights, while RBC’s Nomi even provides reminders of upcoming bills. All these features add to the customer’s banking experience.

Also Read: What 2019 Holds for Bank-Fintech Partnerships

Other instances where fintech partnerships can come in handy with improving bank customer experience is website design/UX, creating PFM tools, lending and payments.

“But customer experience is also at the backend,” Joe Salesky, CEO of CRMNEXT, a banking software company, told Bank Innovation. “When you make it easier for bank employees to do their job, it adds to the customer experience on the frontend.”

And indeed, many banks have partnered with fintechs on backend automation initiatives in areas of lending, customer service, and account opening. Kevin Wood, managing director of the state-chartered Chesapeake Bank’s business lending division, Cash Flow, previously told Bank Innovation that automation was a key theme for the community bank’s innovation strategy for 2019.

Also Read: Why Automation is Key to Chesapeake Bank’s Innovation Strategy for 2019

See below the full results of Bank Innovation’s February poll:

How can fintech partnerships be of greatest value to financial institutions?

• Improving customer experience – 30%
• Creating new products and services – 25%
• Strengthening existing products and service – 17%
• Reducing costs – 17%
• New customers – 11%

To take part in Bank Innovation‘s March poll, look to the right side of the page.

Want to learn more about the future of customer banking experience? Join Bank Innovation Ignite 2019 March 11-12 at the Hyatt Olive 8 in Seattle. Register here.