Fidor partners with Finn AI to launch an AI-powered chatbot for banks

The Fidor chatbot uses conversational AI and natural language understanding to deliver personalised and efficient interactions with users in real-time Fidor partners with Finn AI to launch an AI-powered chatbot for banks image

Chatbots can provide a much needed boost to customer experience. In banks, for example, the technology has been increasingly deployed to help serve the ever-mobile consumer.

The latest banking chatbot to enter the market has been created by FinTech pioneer Fidor, the digital banking group. It has been designed in collaboration with Finn AI, the the AI-powered conversational banking technology provider.

Jake Tyler, CEO of Finn AI, said: “Our conversational AI platform is designed exclusively for banks. By working closely with financial institutions around the world, Finn AI has been able to build an impressive and proprietary platform. Our partnership with Fidor reflects our mutual commitment to continually innovate within the financial sector.”

The history of the chatbot: Where it was and where it’s going

Chatbots are not new. The software has been around for decades, and now its application is beginning to impact the enterprise — both internally and outward facing. Read here

‘One of the first’

This development distinguishes Fidor as one of the first digital banking service providers to embed a virtual assistant within its technology stack.

According to the announcement, ‘bank customers will benefit from a market-ready digital bank platform with pre-integrated conversational AI, including deep machine learning capabilities and natural language understanding.’

The bot is part of Fidor’s strategy to accelerate the adoption of AI, machine learning and robotisation in the banking sector.

HR, chatbots and robotic process automation: key for digital transformation

Organisations must modernise their HR function to succeed in digital transformation efforts. How? Success relies on software automation — chatbots and robotic process automation — and continued human involvement. Read here

A chatbot for the consumer

The Fidor chatbot will give consumers access to instant, easy-to-action financial support for all of their banking needs, allowing them to perform tasks and interact with their bank using simple human conversations.

Similar bots such as Cleo, for example, are helping people manage their money and providing personal financial advice

The chatbot is available on web and mobile banking platforms.

According to the announcement, ‘It addresses general customer queries and the fast routing of complex conversations to the appropriate human for response, increasing customer satisfaction by reducing the time users spend looking for information. Next, the chatbot will assist with transactional services.’

Chatbot solutions for AI-powered customer service

Chatbots are going to have an increasing role to play in the future of customer service. And, the partnership with AI will be crucial. Read here

Chatbot technology is now able to detect sophisticated language nuances with a comprehensive understanding of most user requests. Fidor’s chatbot has deep machine learning and natural language processing capabilities, so it can ‘optimise and refine its performance every time it interacts with a customer, providing a very personalised experience’.

Matthias Kröner, founder and CEO of Fidor, commented: “The expansion of our platform today reinforces our strong belief in chatbots as a new way to interact with customers. AI and machine learning are opening up a whole new world, creating real bot/customer discussion that continuously improves. As customer expectations are constantly evolving, it’s crucial for banks to stay ahead of the digital curve and adopt technology processes that respond to customer needs.”

Latest news

divider
Business Skills
Global Accessibility Awareness Day, inclusive design and business sense

Global Accessibility Awareness Day, inclusive design and business sense

17 May 2019 / At least one billion people, 15% of the world’s population, have a recognised disability — [...]

divider
Major Contracts
Atom Bank selects TruNarrative for protection against financial crime

Atom Bank selects TruNarrative for protection against financial crime

17 May 2019 / The Leeds-based fraud-detection firm TruNarative has today announced that Atom Bank has selected its services [...]

divider
Data Analytics & Data Science
Mass data fragmentation: take control of bad data

Mass data fragmentation: take control of bad data

17 May 2019 / Data is undeniably one of the most valuable resources for organisations today. As a key [...]

divider
Case Studies
A DevOps case study at one of the world’s largest banks

A DevOps case study at one of the world’s largest banks

17 May 2019 / A DevOps case study DevOps, the combination of development and operations, is more than a [...]

divider
News
Flying cars is about convergence

Flying cars is about convergence

17 May 2019 / It is so easy to poke fun. ‘Err, hello, what about all those drones flying [...]

divider
Governance, Risk and Compliance
Will Ofcom’s contract renewal update make companies more agile?

Will Ofcom’s contract renewal update make companies more agile?

16 May 2019 / “Wake me up before you go go,” sung George Michael. The trouble is that these [...]

divider
AI & Machine Learning
UK Digital Secretary to announce line-up of the AI Council

UK Digital Secretary to announce line-up of the AI Council

16 May 2019 / There is an extraordinary opportunity lurking within the AI revolution, of that there is no [...]

divider
Data Analytics & Data Science
Machine learning versus AI, and putting data science models into production

Machine learning versus AI, and putting data science models into production

16 May 2019 / If it’s written in Python, it’s machine learning. If it’s written in PowerPoint, it’s probably [...]

divider
DevOps
The DevOps roadmap in 2019

The DevOps roadmap in 2019

16 May 2019 / Mainstream server-fuelled firms are all at interesting focuses in their centralised server DevOps roadmap. We [...]

Do NOT follow this link or you will be banned from the site!

Pin It on Pinterest