“When it comes to emerging technologies like blockchain and artificial intelligence, the knee-jerk reaction of many treasury and finance executives is to resist them. However, I believe they should prepare for emerging technologies because of the promise they hold for treasury and finance…For treasury and finance professionals to be successful in their careers and help their organizations thrive, they need to leave their comfort zone to learn new technologies and develop new work routines”- Jeff Glenzer, CTP, Vice President and Chief Operating Officer, AFP
Over the past decades the bank’s treasury and cash management function has relied heavily on technology to create efficiencies and automation. From cash management platforms, that have simplified balance reporting on aggregate cash positions across complex corporate accounts, to treasury management solutions that have helped manage liquidity and investments while mitigating financial risks, these technologies have enabled the corporate treasurer and their finance teams to become much more productive. But, as with anything else, technology evolves and with the evolution of artificial intelligence comes the opportunity to reimagine how businesses and their corporate finance function can engage with their financial institutions.
For example, retail banks around the world have been reaping the benefits of Conversational AI for quite some time by empowering their customers to engage through intelligent virtual assistants. And now, for the first time ever, banks are able to tap into this amazing technology when catering to the financial needs of small & medium size businesses as well as large corporations.
Banks are looking for more effective methods to effortlessly present critical and timely information to their corporate customers through digitally immersive and human-like conversational experiences. This information needs to flow seamlessly, efficiently, and intelligently. AI, especially Conversational AI is being used to help the corporate treasurer be more efficient by providing critical information through simple digital conversations. By using the power of Conversational AI, Kasisto’s KAI Business Banking virtual assistants are enabling corporate banking customers to easily access information that can sometimes be tedious to access or decipher, like payment activities and automating routine tasks such as reporting and cash management functions. Conversational AI is changing the way these banks engage with information and with their customers.
Kasisto’s KAI Business Banking virtual assistant provides users immediate access to information, services and products through human-like, intelligent conversations, 24 hours a day.
KAI Business Banking helps clients to achieve:
- An enhanced and engaging digital experience between corporate finance teams and their banks
- Increased customer loyalty and deepened relationships, powered by an industry-leading virtual assistant
- Reduced operational costs by empowering customers to self-serve
- A future-proof digital experience platform that is extensible and designed to quickly support new customer needs
As a result, corporate finance teams are more productive and are freed up to focus on business strategy and managing financing needs while also realizing reduced operating costs.