Blog Business Software

Build New Business Apps For Banking Industry to Promote Customer Engagement

The banking sector is embracing business apps for banking. Gone are the days when you had to stand in long queues at the bank to get your work done. Technological advancements have transformed how the banking sector works.

Schedule a free Demo for Banking Apps Make an Inquiry about this news

In recent years, the development of AI has enabled the banking industry to gather enormous information on customer behaviour and made it possible for them to provide personalised services to their customers with the help ofbusiness apps for banking Make an Inquiry about this news. In addition, these business apps for banking can help an individual manage their budgets judiciously.


Multinational banks and banking professionals increasingly feel that they should build business apps for chatbots to stay ahead of the competition. In this article, we will explore the features of business apps for banking.

Reviewing Banking chatbots

Popular chatbots worldwide use the latest technology and combine human assistance and AI to offer exceptional features which makes it easy for customers to meet their banking needs from the comfort of their home.           

Request Here for free Consultation Make an Inquiry about this news

1. Kasisto AI

Founded in 2013, KAI is a virtual banking assistance which can be deployed on bank’s messaging, mobile or web platforms. KAI does not just use AI, it uses voice recognition and language processing to assist customers in making payments, transactions, in-depth detailing of accounts, and also helps manage personal finances. The conversational KAI API is easy to use and can interact like a human, using text and voice.

2. Personetics Assist

Built by Personetics Technologies, this banking chatbot is especially meant for the financial services industry and retail banking customers. It uses natural language processing to understand the customer’s banking needs and can include the latest banking transactions done by a customer in conversations. Using predictive analytics, it can foresee queries or issues from customers and provide necessary insights and suggestions. It can even perform actionable requests like sending payments, changing passwords, or arrange appointments.

Get a Free Demo @…finance-industry/ Make an Inquiry about this news .

3. Finn AI

Headquartered at Vancouver, Finn AI is an award-winning AI-powered virtual assistant which can answer more than 200 questions on bank’s products, foreign exchange rates, and branch or ATM locations of banks, round the clock. One of its clients, ATB Financial has testified that their customers use this chatbot for paying bills, view account balances, transfer money, and MasterCard statement alerts.

4. Clinc

This business apps for banking processes and decodes messages to comprehend complex queries of customers and respond. Clinc, based on a customer’s banking and credit history, suggests spending methods to the user. Depending on a user’s portfolio and trading history, the app can recommend appropriate financial products. The chatbot notifies users of investment opportunities, stock prices, and news related to exchange.

Chatbots Enhancing Banking Industry

The banking sector has embraced business apps for chatbots for very obvious reasons and benefits which have been listed as under:

1. Round the clock customer service

Banking chatbots are the 24X7 customer service face of banks which can be used by customers anytime. Customers can skip calling the call centre, IVR and still get valuable and necessary responses on chatbot. Banks need not appoint staff to perform these functions and still, collect the required information or answer the queries of customers without human intervention.

2. Automatic fraud prevention tool

In the case of a banking fraud, the customer loses money and faith in the bank. Banking chatbots are quite efficient in mitigating the effects of fraud and also help you avoid them altogether. This can be understood by learning how they use notifications to do the same. When you spend using your card, a notification will ask you to approve the transaction. Not only does this save the time of the customer but also makes it easy for the bank to avoid fraudulent transactions.

3. Drives customer engagement

By collecting data and analysing their transaction pattern Chatbots can present customers with specific information. They can highlight the benefits of services which are of their interest. This customised approach also helps banks to promote customer engagement.

4. Elevate incremental revenue

Chatbots gather information by collating customer usage, credit history, and money management practices and can offer pertinent services to targeted customers exactly when they need it. This ‘compulsive buying’ route which informs banks on ‘key data points’ of the customer can elevate the revenue.

5. Boost operational competence

Chatbots are analytical tools <Who are the best analytical tools?> that answer or interact with customers based on their needs and advise them on how to manage their finances. All of this is done independently by them and this can boost the operational efficiency of banking staff.

Win-Win for Both Parties

Business apps for chatbots are a fast, immediate, efficient, and practical solution for communicating with customers. It is a win-win situation for both, banks and customers as the former saves on cost and the latter gets satisfaction and delight.    

Write us Here to deliver seamless …ce on all devices Make an Inquiry about this news

News From

The Mobile App Maker -  Mobile app developmentThe Mobile App Maker
Category: Mobile App DevelopersCompany about: We are redefining the mobile app development experience. Our mobile app development platform simplifies the app development process to deliver exciting and intelligent solutions that empower businesses to make a smart decision based on actionable insights, from anywhere-anytime.
This email address is being protected from spambots. You need JavaScript enabled to view it.

For more information:

Make an Inquiry about this report HERE!