Chatbots and AI—what makes them so engaging? How can banks and FIs utilize bots to improve the relationship with consumers, while driving engagement?

This was the penultimate question during the Bank Innovation Twitter Chat today. We’ve summarized some of the best responses, and most intriguing questions, below.

Experts weighed in on what the ideal finance chatbot would offer to consumers. The answer, overwhelmingly,

@BankInnovation Let you get back to whatever else you are doing ASAP. They know you and your account, and act as a personal assistant #AskBI

— Teller Messaging (@teller_nyc) February 10, 2017

@BankInnovation Anticipate needs. And guess correctly. #askbi

— Philip Ryan (@philipgryan) February 10, 2017

Or on the role data plays (or doesn’t play) when it comes to the success of a bot:

#askbi in order to get to truly high functioning #chatbots is a lack of data an issue? or access to that data? Or neither? @BankInnovation

— Jonathan M Patrick (@jmillspatrick) February 10, 2017

@BankInnovation Data + Training will lead to intelligent/more-human bots. Someone needs to build a banking chatbot Turing test #AskBI

— Teller Messaging (@teller_nyc) February 10, 2017

 

Also noted was the importance of user experience on platforms like Facebook Messenger and Slack—as well as the security of that experience:

@AlexanderOei @PhilCanning2 @BankInnovation Young but smart and risk-adverse. We value security and trust few -> banking apps #askbi

— Diana Asatryan (@DinaAsat) February 10, 2017

Asked and answered (at least for some) was the big question: what form will chatbots and AI take in the future?

@WordsofaGrace @imyom25 @BankInnovation Grace, indeed Voice has the greatest advantage. Voice has been around ~millions of years typing-not.

— Brian Roemmele (@BrianRoemmele) February 10, 2017

Stay tuned for our next Twitter chat, and let us know what topics you’d like to see covered via email kyee@royalmedia.com or on Twitter at #AskBi.

To learn more about chatbots and AI in banking, join us in San Jose on March 6-7 for Bank Innovation 2017, where the best conversations in fintech take place. Request your invitation here.