Chatbots - A new era in digital banking

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Chatbots A new era in digital banking Sotiris Alexopoulos Head of Operations, Warply NBG i-bank, #fintech crowdhackathon Be Finnovative !, #fintech workshop

Transcript of Chatbots - A new era in digital banking

Page 1: Chatbots - A new era in digital banking

Chatbots A new era in digital banking

Sotiris Alexopoulos Head of Operations, Warply NBG i-bank, #fintech crowdhackathon Be Finnovative !, #fintech workshop

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Mobile Lanscape

Case studiesBots

Chatbot Banking

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0

18

35

53

70

2010 2013 2016 2019 20224% 6% 8%

13%

20%

28%

37%

44%50%

54%59%

62%66%

69%

Smartphone penetration

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Users  (in  Bn)

0

1

1

2

2

2015 2016 2018 2019

1.07Bn

1.40Bn

1.61Bn1.81Bn

2.00Bn2.19Bn

Messaging mobile app users

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Instant  Messages  sent  per  day  (in  Bn)

0

55

110

165

220

2014 2015 2017 2018

30Bn

100Bn

130Bn

160Bn

200Bn

220Bn

Mobile instant messaging

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Monthly Active Users (in M)

WhatsApp

Facebook Messanger

WeChat

iMessage

Viber

LINE

Kakao Talk

Snapchat

BBM

Tango

Telegram

0 200 400 600 800

50

70

100

140

150

170

240

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500

550

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Global Messaging app leaders

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The historical moment of messagingMonthly  AcCve  Users  for  Cp  messaging  apps  versus  

Social  Networking  apps  (in  M)

0

1,000

2,000

3,000

4,000

2012 2013 2015 2016

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Hou

rs

0

150

300

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2015 2016 2017 2018 2019 2020

$173Bn$158Bn$138Bn

$119Bn$99Bn$80Bn $79Bn$69Bn$60Bn$51Bn$43Bn$35Bn

$252Bn$253Bn$242Bn$234Bn$231Bn$213Bn

Desktop Tablet Mobile

US Mobile Commerce forecast (sales in $ Bn)

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Hou

rs

0

2

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2008 2009 2010 2011 2012 2013 2014 2015

2.8h2.6h2.3h1.6h0.8h0.4h0.3h0.3h 0.4h0.3h0.3h0.3h0.3h0.4h0.3h0.2h

2.4h2.4h2.3h2.5h2.6h2.4h2.3h2.2h

Desktop  /  Laptop Other  connected  devices Mobile

3h/day per user @ mobile

Time spent (per adult per day) on mobile

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Mobile landscape58% smartphone penetration in Greece

47% smartphone penetration worldwide

44% usage of mobile data

76% of word smartphone users use social media networks

3h/day per user @ mobile

78% of smartphone users use an over-the-top (OTT) mobile messaging app

80% of time spent on apps

30’ spent per day on messaging apps

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Bots

Mobile Landscape

Case studies

Chatbot Banking

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Bots

A bot is a software application that runs automated tasks (scripts) over the internet. Typically, bot perform tasks that are both simple and structurally repetitive, at a much higher rate than would be possible a human.“ ”

A chatbot is designed to work on conversation with people and existing chat app or social network

Usually AI is embedded in a chatbot so the chatbot can understand the context and perform much more complicated tasks than what a bot does.

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Why is this huge?

one chat app = all services needed

shift to conversational UI

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Chatbot builders

telegram chat fuel Prompt

Along with developing new conversation base service, many existing app/service developers try to apply conversational UI.

Several CDKs (Chat Development Kit) are offered to build a bot aligned with existing services.

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Summary

Big shift from app to chat, Facebook took this path

Chat app may become the primary access of users and center of services

Chatbot will play a main role as a primary touch point of users to services

Developers will be required to to cope with conversational UI

The challenge is to bypass incumbent vertically integrated players (Apple and Google)

The key to success is to offer a better UX than existing mobile services

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Chatbot Banking

Case studies

Mobile Landscape

Bots

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Utility - KLM flight updates

Notification for check-in

Once book fight, agree to start up a chat thread on Messenger app

Flight status updates

Boarding pass

Get booking confirmation

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Personal travel agent - Hyper bot2human2human

Adjust to ones preferences and budget, “the more the reaction the more understanding”.

Support any type of messaging, email, iMessage, app, messenger etc

Combine human expertise with automated and quick responses

Time lapse responses come from bots, edited by human agents

Support decision making, data driven recommendation

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Shopping - Sephora “Conversational commerce”

Then serve relevant content, insights tailored to ones facial shape etc

Welcome users “Hi Rachel, welcome to Sephora!”

Click to directly shop without having to leave the app

Know users better by “Do you want to take short quiz?”

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Hiring - Codefights versus Bots

Solve some of the core everyday challenges

Recruiting codefights versus bots, not humans

Challenges specific to needs of the company

Writing code and review existing code challenges

Quick and accurate evaluation of the participants

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Scheduling assistant - X

The bot emails the guest

When a meeting request is made

Exchange emails in order to set details

Respond with cc a dedicate bot email

When details are set, receive bot a meeting invitation

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Case studies

Chatbot Banking

Mobile Landscape

Bots

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Receive and submit information

Instant information on various topics, i.e. rates or terminology

Consulting information

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Apply for a credit card

Compare credit card benefits

Instant information on various topics, i.e. rates or terminology

One click action to proceed to card application

Consulting information

Update or confirm alterations on personal data and submit evidence

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Report a card loss

Compare credit card benefits

Instant information on various topics, i.e. rates or terminology

One click action to proceed to card application

Consulting information

Update or confirm alterations on personal data and submit evidence

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Handle routine transactions

The bot emails the guest

When a meeting request is made

Exchange emails in order to set details

Respond with cc a dedicate bot email

When details are set, receive bot a meeting invitation

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References

- Pew Research Center “Spring 2015 Global Attitudes survey” - OTE Investors report - KPCB mobile technology trends by Mary Meeker. - http://www.gsmamobileeconomy.com/

GSMA_Global_Mobile_Economy_Report_2015.pdf - Marc Beacue Consulting, The Economist - Portio Research; a16z; Company reports - emarketer - Ericsson Mobility Report - BI Intelligence - Forrester Research Mobile and Tablet Commerce Forecast, 2015 to 2020 (US)

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Thank You/warply

@warply

[email protected]

/warply