At a time when personalized, omni-channel customer experiences are becoming the new norm, we recognize the importance of engaging customers in new ways. VeriPark designed a chatbot module for customer-centric banks & insurers looking to unite all platforms around their customers and shift their communications. With the chatbot, banks & insurers can offer services that go beyond normal business hours, boost sales and increase loyalty. The chatbot module runs across all digital channels from web to mobile and delivers a holistic communication. In other words, customers can choose the channel that suits them and get the same omni-channel experience everywhere. With the instant chat feature, they can access quick services and get transactional support 24/7. The conversational functionalities of the chatbot enable customers to resolve an issue or get an answer to a question faster than a live person. What is more, the transactional capabilities allow them to perform transactions such as payments, transfers and loan applications instantly.

Key Features

• Using Natural Language Processing (NLP) for intent and entity recognition to provide a way for systems to understand customers in their own language from any device
• Interacting with customers to make sure that they get answers to their questions or find what they’re looking for in real-time
• Using Machine Learning (ML) to better understand customer requests and provide a natural, near-human communication by streamlining and optimizing customer service operations
• Integration capability with Microsoft Bot Framework and LUIS
• Integration capability with social channels such as Facebook and LinkedIn
• Connecting channels to any back end system to carry out the tasks
• Straight-through processing (STP) capability for routine activities  
• Offering a mix of both live conversation and speed 
• Multi-device and multi-platform compatibility: IOS, Android, Windows

Key Benefits

For Financial Institutions

• Facilitating two-way, human-like communications and directing customers to perform many banking transactions using chatbot
• Offering 24/7 customer support, giving guidance and advice on financial decisions
• Driving dramatic cost savings by automating transactional enquiries
• Redirecting workforce to focus on more complex customer issues that require deeper human insight
• Becoming more interactive with the customers, re-establishing relationship banking, enhancing customer engagement
• Getting a deeper understanding of customers' behavior and transactions and using this data to deliver highly-targeted personalized offers
• Making omnichannel banking cost-effective and consistent
• Gaining actionable insights and using them for cross-sale and up-sale opportunities.

For Customers

• Reaching instant and personalized services that are available 24/7 via their preferred digital channel
• Easy and intuitive banking anytime, virtually anywhere
• Managing accounts, ordering and cancelling services, making transactions, within seconds
• Having smooth interactions
• Getting extensive customer support and guidance on financial matters