With AI-enabled agents, the speed of query resolution and customer support have been minimized to the least, i.e., 4 minutes per query.
Conversational banking is a redefined digital banking technology that offers personalized and seamless experiences to customers through digital channels. The development of mobile banking apps is significantly expensive for smaller banks. But conversational AI doesn’t require extensive IT infrastructure and investment, like servers and databases.
Thus, even smaller financial institutions can deploy AI-enabled chatbots at a comparatively low cost.