In 5 years’ time the bank’s customer will be contacted by artificial intelligence

In 5 years’ time, the bank’s customer will be contacted by artificial intelligence
Mobile banking is the fastest growing part of the sector. A virtual branch of the bank enables its clients to contact the advisor at any time. According to the CEO of in five years’ time the account holder will be contacted not by a living person, but by a system.
– The market is moving intensively towards mobile solutions, because we all use mobile phones, we all want to have all our services at hand, especially the banking sector is developing in this area. – In the banking sector, our company is today one of the world leaders in terms of virtual branch. We are able to handle completely all the things that we have done with the bank so far, either in the branch or with the use of a computer, via our mobile phone.
The NBP survey conducted in September 2016 shows that 6.6 million Americans actively use mobile banking. At present, it accounts for 17.4% of the population. However, already in the 25-39 age group, the percentage of people using mobile devices to service their accounts is 30.3%, while in the 18-24 age group it is slightly higher – 30.5%. However, in the latter group only 58% of respondents have their own or shared accounts (in the next older age group 94% have an account) and this percentage is likely to increase within a few years. However, it is the youngest who show the highest rate of using mobile banking: 59% of those who have access to an online account actively connect to it via mobile devices (35% in the older group).
– We can talk live with a bank representative for 24 hours, at any time, and handle all matters, see the presented products, approve them, and so on. – explains the advantages of this solution in January. – As a result, this area is moving forward very strongly. What is more, in countries such as Vietnam, Malaysia or Singapore, where we implement our products, very often computers are no longer used at all, where it is natural to do everything by phone.
is an IT company providing technological solutions for several industries, including banking. Its LiveBank product is a service offered to banks, thanks to which the latter’s customers can handle 90% of all operations offered by the bank through an application on their smartphones. Last year, it was the solutions for financial institutions that had the strongest impact on the dynamics of the company’s results. According to in its annual report published at the beginning of March, in 2016 LiveBank achieved seven times better results than in 2015, achieving of USD 2.1 million. During the year, tripled the number of financial institutions serviced.
– In the virtual banking branches, which are commonly implemented by banks, a very large part of communication is chat. Just as people are accustomed to Messenger, they expect Messenger to communicate with the bank. We want to treat the bank like any other colleague in Messenger and tell him to do something or not. And it is also an ideal place for intelligent technologies of this kind to be implemented – comments the company’s president.
finished last year with the highest results in its history. Revenues were USD 89 million, USD 14.7 million (profitability 16.5%) and net profit USD 7.6 million. This is 16% more than in the previous year. Already in 2017, launched a new Wealth product line for the financial sector. The new product will be offered to the same target group as LiveBank, with emphasis on retail banks with a wide range of investment products. They will be implemented for the first time in the new Golden Sand Bank project – an international mobile bank for premium customers.
According, the next step in the development of technology in this sector is the development of artificial intelligence so that the customer is contacted not by a bank employee but by a system. In his opinion, the entry into force of such solutions is a matter of several years.
– Today, artificial intelligence is a kind of gold prospecting, everyone runs in this direction, everyone knows that it is the future and that they have to do something about it, otherwise someone will be ahead of them somewhere. – I think that these systems will reach such maturity in about 5 years, that they will be able to really replace people, that when communicating with them, we will have the impression that we are talking to people, or that we will be able to do most of the things. To be there in 5 years, you have to work on it today, so we’re also working on automatic chat support, which is our live banking product.