Monday, 26 September 2022

Use of chatbots in banking, retail, and healthcare

Chatbots have been one of the hottest topics in the domain of customer service technology for quite some time, and for good reasons. Chatbots Applications are not just a passing fad. In fact, they are revolutionizing how consumers interact with business, and can be a long-term solution for companies of diverse sizes and types. AI Chatbot Integration is possible on websites, social media, and other apps, and multiple industries can benefit from incorporating bots into their customer engagement strategy. Chatbots are used extensively in banking, retail, and healthcare sectors in particular, according to research.

Chatbots can be helpful in enabling banks to reduce wait times, and even in up-selling and cross-sell products. Traditionally, banks were known for long delays in communication. But things have changed quite a bit over the years. Modern customers expect 24/7 availability and prompt responses from their banks. Bots can be used to provide this assistance, without having to expand internal teams. Chatbots also help bank customers to keep a track of their finances. For example, a chatbot may automatically notify customers when a bill is due or when a payment is processed.

Coming to healthcare organizations, they mostly use chatbots to schedule patient appointments, provide prompt answers to common healthcare-related queries, and help people to find the nearest healthcare provider. Automating simple tasks through chatbots aids in freeing up the time of doctors and nurses, and eases the burden of the overworked hospital staff on the whole.

Conversational commerce is the future of ecommerce and retail, and involves the use of bots to add a personal touch to the sales process. Triggers can be up on the Best AI Chatbot to proactively reach the customers and offer assistance, much like an in-store agent. If a customer abandons their cart, the chatbot can remind them to checkout.

 

 

How can chatbots can be used for BFSI Businesses

Conversational AI has been on top of business trends for quite some time, particularly in the domain of BFSI (Banking, Financial Services and Insurance). In fact, the banking and financial services sector has been one of the early adopters Conversational Chatbot. These chatbots are well-suited for any business that plans to enhance customer experience, while also competently meeting demands and expectations. AI-enabled conversational chatbots allow BFSI firms to improve their bottom line, derive valuable insights, optimize resources and more. With each conversation, these bots learn a bit more about customer preferences. This allows them to deliver proactive, personalized banking and financial solutions that increase loyalty and engagement. 

 

An AI enabled banking chatbot would ideally have all the vital data about the customers, including their names, account details, and even preferred languages. This data can subsequently be used to personalize conversations based on their account details, choice of language, and more, and overall allow banks to create a more positive customer experience. This invariably saves the customers’ time as they do not have to provide their account details time and again in their preferred languages. They can simply resolve their queries in a single session through the chatbots, without any hindrances. The personalized and swift customer service process delivered by chatbots can help BFSI companies to enjoy improved upsell revenue.

 

Unlike human agents, chatbots can interact with thousands of customers at a time and close tickets within no time. You can use the assistance of a good AI Chatbot Company to create a chatbot for your BFSI firm. 

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