NAB taps power of AI chatbots for business customer service

Banking group launches virtual banker, one of a host of digital initiatives aimed at improving specific customer journeys

NAB has launched a virtual chatbot aimed at helping business customers better answer common banking queries online.

The digital virtual banker pilot is running on the banking giant’s nan.com.au website and has been designed to answer more than 200 common questions relating to business banking accounts, with 13,000 variants. If the artificial intelligence-powered bot can’t answer a question, the inquiry is then reverted to a human banker.

The questions and responses were based on thousands of real-life customer enquiries. NAB said customers were also involved in the initial testing and development phases, where 75 per cent agreed a virtual banking assistance would be a desirable offering to have available.

The self-service assistant has also been extended to a tutorial video for NAB Connect users aimed at helping customers understand how to better use the platform by doing things like adding users or setting up recurring payments.

NAB chief operating officer, Anthony Cahill, said the name of the virtual game was to offer solutions that make life easier for customers. The solution was the brainchild of NAB’s customer journey team and based on a re-imagining of specific customer experiences.

“Our research shows that two-thirds of Australian SMEs cite dealing with administrative tasks as taking a lot of effort, and our customers desperately want to spend more time on their business and less time on dealing with admin tasks,” he said.

“Our virtual banker is there to help solve it 24 hours a day, seven days a week. We will continue to develop the virtual banker over coming months, enabling an even broader and more diverse range of instant answers and guidance for business customers.”  

NAB claims to have 1000 employees across different divisions, including marketing, product and banking, working on similarly themed projects. Talking on the launch of the virtual banker, NAB’s EGM of business transformation, Anne Bennett, said customers are doing 275 million things with the banking giant a year, and it’s keen to make as many of them as easy and accessible as possible.

“When this customer journey designed their preferred reality, it was with the idea that we’d keep adding more products, services, information and also more ways to engage with the virtual banker,” she said. “We’ve love for you to be able to user your voice for example, to activate it and ask questions when our business customers driving around.”

According to Forrester’s State of Chatbots report, chatbots have the potential to improve information distribution, customer care, commerce, and marketing over time by making them more natural.

A recent survey undertaken by LivePerson also suggested consumers are warming to bots even as they still prefer to interact with a human. According to its report, the majority of Australian consumers have a positive or neutral perception of using a bot to communicate with a brand’s customer service, slightly higher than global averages.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu    

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments
cmo-xs-promo

Latest Videos

More Videos

Thanks for your feedback, Rabi. While we introduced the ROO concept using a marketing example, I also believe that it is pertinent to man...

Iggy Pintado

Introducing Return on Outcome (ROO) - Brand science - CMO Australia

Read more

Thanks for your insight, Philip. Return On Outcome (ROO) requires balanced thinking with the focus on outcomes as opposed to returns.

Iggy Pintado

Introducing Return on Outcome (ROO) - Brand science - CMO Australia

Read more

Beautiful article.

Hodlbaba

15 brands jumping into NFTs

Read more

"Blue" is really gorgeous and perfectly imitates a human customer support operator. Personally, I won't order a chatbot development for m...

Nate Ginsburg

Why the newest member of BT’s contact centre is a chatbot

Read more

As today’s market changes rapidly, the tools we use change, and it is important to adapt to those changes to continue to succeed in busin...

Anna Duda

Report: 10 digital commerce trends here to stay

Read more

Blog Posts

How the pandemic revealed the antidote to marketing’s image problem

What does marketing truly ‘own’ in most organisations? Brand and campaigns, definitely. Customer experience? That remains contested ground.

Murray Howe

Founder, The Markitects

Still pursuing a 360-degree view of the customer?

On the Internet, nobody knows you’re a dog.” It may have been true in 1993 when this caption to a Peter Steiner cartoon appeared in the New Yorker. But after 30 years online, it’s no longer the case.

Agility in 2022

Only the agile will survive and thrive in this environment and that’s why in 2022, agility will need to be a whole-business priority.

Sam McConnell

Melbourne bureau chief, Alpha Digital

Sign in