Today, we’re at Bank Innovation 2017 in San Jose, CA and I just joined executives from BMO, IBM, and Mastercard on a panel discussing “Messaging and Chatbots: The New Banking Portals.” It was great to be on the panel with our customer Kiki Del Valle from Mastercard and talk about the rise of artificial intelligence in banking and commerce. As we see it, it’s all about creating conversational experiences to make customer journeys more efficient, but most importantly, creating growth opportunities for financial institutions.
On that note, we also shared how KAI Insights is significantly extending the capabilities of our conversational AI platform. You can see a few example use cases in this video showing how KAI-powered bots and assistants help financial institutions:
- Reduce customer care costs by eliminating and qualifying customer inquiries. KAI-powered bots and assistants proactively inform customers about transactions and patterns and suggest actions to self serve.
- Increase sales of products and services with contextual offers. KAI-powered bots and assistants cross-promote and upsell with personalized call-to-actions.
- Improve customers’ financial well-being and literacy. KAI-powered bots and assistants provide data-driven recommendations and insights to help customers manage their money.
- Increase brand loyalty by highlighting unrealized features and benefits to consumers about current products and services.
On its own, a financial institution’s raw data is not enough to drive intelligent conversations and actionable recommendations. With KAI Insights, the disparate and often uncategorized data is continually augmented and enriched so Kasisto’s conversational engine can leverage the high-quality data, understand users and generate a customized, personalized, contextual response in the way people actually speak and text with one another. KAI Insights takes data analysis to the next level by creating data-driven triggers based on patterns and events which are used by our conversational engine to offer proactive and actionable recommendations, contextual promotions and real-time notifications. The combination of insights and conversation is what enables KAI-powered assistants and bots to become powerful “do engines” – predicting needs, solving problems and fulfilling requests for consumers – all via human-like conversations.
Given our significant traction in the market deploying KAI at various financial institutions, we understand the need to augment banking data to fully unleash the benefits and power of our conversational platform. This experience really underscores why it so important to have Insights and Conversation tightly integrated, working hand in hand. The heavy lifting that Insights does with the data is really what makes the conversation intelligent, and ultimately a more personal and meaningful banking experience.
Check out this article about KAI Insights on Bank Innovation.