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

Blog Posts

Is customer segmentation dead?

Ginni Rometty, the CEO of IBM, announced the death of customer segmentation five years ago saying, "The shift is to go from the segment to the individual. She might have been a bit premature for most marketers, but if customer segmentation isn't dead yet, it's definitely on life support.

Richard Taylor

Senior digital strategist, Spinach

How people buy brands

Andrew Ehrenberg was a giant in the field of marketing science. He believed scientific methods could reveal law-like patterns of how people buy. In this post, I summarise one of Ehrenberg’s most important discoveries and its implications on how people buy brands.

Kyle Ross

Strategist, TRP

Is artificial intelligence riddled with bias?

The purpose of Artificial Intelligence (AI) has always been to replace the menial and repetitive tasks we do each day in every sector, so that we can concentrate on doing what we do best. Saving time and money has certainly been a decent outcome as AI infiltrates the business landscape, however, now we are starting to see problems that cause major issues in practice.

Katja Forbes

Founder and chief, sfyte

This is so cool & Innovative . A Milestone will be created by this.

Digital Marketing Courses

AANA, IAB and MFA chiefs detail first cross-industry digital advertising practices

Read more

“2019 will be the year brands leverage their social capital with consumers to help drive sales, answer questions, and act on the brand’s ...

Engenius

Predictions: 9 digital marketing trends for 2019

Read more

At the deeper levels of artificial intelligence, computing machines make all kinds of correlations among whatever data is available to th...

Fraction Tech

Is artificial intelligence riddled with bias? - Customer Design - CMO Australia

Read more

https://myiplookup.com/ - find your ip address and location information in our main page. Also there are many ip tools you can use : IP L...

savefrom

iSelect outlines new approach to arrest ineffective marketing as its reports full-year results

Read more

https://myiplookup.com/ - this website will allow you to View Alexa Ranking and graph Check http headers of a website, tool to compare te...

savefrom

The Star's first CMO creates all-new marketing team

Read more

Latest Podcast

More podcasts

Sign in