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

3 skills you need to drive better collaboration

A study published in The Harvard Business Review found the time spent in collaborative activities at work has increased by over 50 per cent in the past two decades. Larger projects; complicated problems; tighter timeframes: These require bigger teams with specialised skillsets and diverse backgrounds, often dispersed globally.

Jen Jackson

CEO, Everyday Massive

Better the bank you know?

In 2018, only 21 per cent of customers believed that banks in general had their customers best interests at heart and behave ethically. Only 26 per cent believed that banks will keep their promises; views cemented further following the Hayne Financial Services Royal Commission.

Carolyn Pitt

Head of account management, Hulsbosch

What 15 years of emotional intelligence told us about youth media audiences

Taking people on an emotional journey through content is the most critical part of being a publisher. Which is why emotion lies at the heart of VICE Media.

Stephanie Winkler

Head of insights, VICE Asia-Pacific

I have recently worked on Big Data while studying on my certificate exam SAA-C01 Braindumps provides authentic IT Certification exams pre...

samried

The CIO and CMO Perspective on Big Data

Read more

Thanks for sharing the insights. The findings are spot on according to several encounters we had with various brands in the luxury retail...

Xen Chia

Report: Only 11 per cent of brands use customer data effectively

Read more

I think they are overpriced. Don't you think so? I won't buy them.

Donna Green

Apple Watch arrives April 24, some models top $10K

Read more

Energy Makeovers provides services to building owners to reduce their energy consumption and emissions, including replacing halogen light...

samried

How one energy company is giving itself a social media makeover

Read more

That's an interesting use for biometrics, to actually assist in predictive analysis of campaign success.

Simon Smith

Facial recognition technology being used in a new out-of-home campaign

Read more

Latest Podcast

More podcasts

Sign in