A Brief Comparison Best AI Chatbots To Integrate Between Fintech Products

1. A Brief Comparison: Best AI Chatbots To Integrate Between Fintech Products Have you ever wished that you had a 24/7/365 personal banking assistant to simplify banking for you? Look no further as banking AI chatbots are here to assist you in almost every step of your banking journey. Today, chatbots empowered by artificial intelligence (AI) are helping banks and credit unions reduce operational expenses, improve staff efficiency, and enhance digital customer services. However, selecting reliable AI chatbots to integrate between FinTech products can be a complicated task. We have prepared a list of the top AI chatbots that can be of great help to you if you want to start your own payment gateway business. Let’s dive in after accessing some interesting statistics about chatbots. ✓According to Statista, the size of the global market is expected to reach around US$1.25 billion in 2025, suggesting an increase from US$190.8 million in 2016. ✓In 2023, 91 percent of users had at least one conversation with a chatbot. ✓Chatbots are likely to save up to 2.5 billion hours of work for businesses by 2024. #1. Kindgeek AI Support Assistant Kindgeek is a company that is globally renowned for its unmatched and superior expertise in the segment of FinTech products. It provides a wide range of AI chatbot services that can help businesses build their custom smart chatbot powered by OpenAI models. For instance, the Kindgeek AI Support Assistant can provide instant help for service and app-related questions to guide your customers via processes using your existing knowledge base. This support assistant can also be used to provide satisfactory answers to customers who are looking for domain-specific concepts. The Kindgeek AI Support Assistant can also guide users with streamlined control over their accounts through pre-trained commands. It can also offer tailored recommendations, insights, offers, and responses to customers by infusing interactions with personalization. The Kindgeek

2. AI Support Assistant can also smartly hand over complex concerns to human support teams for faster issue resolution and a seamless customer experience. #2. IBM Watson Assistant A versatile AI chatbot platform, IBM Watson Assistant is trusted by some of the biggest names in the financial and banking industry. It is empowered by out-of-the-box natural language understanding capabilities and helps customers instantly interact with it conversationally to make the overall customer experience more intuitive. The IBM Watson Assistant is characterized by seamless and multi-channel integration, including mobile, web, and messaging apps. It is highly customizable to cater to specific banking processes and workflows. #3. Clinc The revolutionary conversational AI - Clinc - utilizes natural language processing to power consistently exceptional customer experiences. It allows customers to transfer funds, report stolen or lost cards, check balances, and gain invaluable insights into their spending habits. Clinc significantly eliminates expenses associated with scaling and managing customer service teams. The company announced in March 2023 that its AI-driven chatbot is used by more than 5 million unique banking customers. Focusing on voice-first technology, Clinc AI seamlessly integrates with many core and online banking platforms along with some of the largest phone system providers, including Genesys and Amazon Connect. Clinc has been deployed across the world in multiple languages to institutions of all sizes, including English, Spanish, Turkish, and Kanji/Japanese. #4. LivePerson LivePerson can be best described as a conversational platform powered by AI technology that goes much beyond simple chatbot interactions. The platform of LivePerson, known as LiveEngage, facilitates meaningful and purpose-driven conversations between customers and banks to increase customer satisfaction and engagement while reducing customer churn. The powerful AI capabilities of LivePerson help the chatbots to quickly and clearly understand user context and intent, leading to more accurate responses. LivePerson can be integrated with CRM systems for better and improved user insights. #5. CogniCor The chatbot platform of CogniCor is built for Registered investment advisors (RIAs) and broker- dealers to drive customer experience and business efficiency in Wealth Management. A leading provider of artificial intelligence-powered digital assistants for highly regulated industries, CogniCor offers the AI-powered digital assistant to streamline user support functions. It operates on knowledge graphs or conceptual maps that group together industry- and firm-specific terminology, topics, and content to provide a knowledge base to interpret user intent and return guidance to fit user needs. It can be used to provide personalized financial advice based on user goals and profiles based on built-in cognitive reasoning capabilities for a thorough understanding of user queries.

3. #6. Ovy Ovy is an intuitive and all-in-one AI chatbot solution to transform the overall banking experience. Enriched with out-of-the-box and advanced conversational capabilities, Ovy provides human-like interactions to users to make banking more engaging and simpler. Ovy can progressively increase its response capacity during request peaks and is characterized by seamless integration with banking systems for real-time account updates. #7. Sabio Banking Chatbot The Sabio Banking Chatbot can be easily implemented and integrated to deliver consistent and memorable customer experiences. It can also be integrated with other natural processing language technologies in a coherent and coordinated manner. The Sabio Banking Chatbot is a great choice for managing customer service KPIs (satisfaction, absorption, and internal transfers). It is also useful to monitor conversations and proactively detect any anomalies to measure performance and ensure that interaction objectives are timely met. Conclusion Today, the concept of AI-powered chatbots brings unique capabilities to the table to promise a future where personalized, seamless, frictionless, and efficient banking experiences are the new norm. AI chatbots can provide instant answers to customers, such as interest rates, account balances, transaction history, and much more. They can also help customers pay bills, transfer funds, open a new account, update personal information, or set up automatic payments. Furthermore, AI chatbots can be programmed to proactively detect anomalies or potentially fraudulent activity to alert banking staff and customers to take appropriate actions. If this is not all, AI chatbots can also be leveraged to collect feedback from customers about the quality and variety of products and services offered by banks. Whether you want to start your own payment gateway or integrate AI chatbots into FinTech products, the benefits are endless!