CLICK TO WATCH : ‘ ADOPT IT : TRANSFORMING LIVES AND CHANGING FUTURES ’ 55 the technology . “ Questions are black and white – ‘ do you want to make the transfer ? What is my account balance ?’” Varadhan notes . “ But to be truly interactive a bot must be intelligent to understand a sequence of questions , to correlate those points and to understand that overarching intent of my interaction . That ’ s where the innovation needs to continue with regards to chatbots in banking . We ’ ve been working with chatbot providers , for example , and have created a banking app that sits on top of that
technology . If we can improve this aspect of AI bot technology then you ’ re looking at an environment where you could completely avoid call centres , waiting for responses and so on – it ’ s the breakthrough that ’ s needed and I think we are close .”
Alongside customer-centric solutions , Varadhan also notes that the use of AI-based platforms is helping financial organisations to improve their back-office functions . In particular , this can be related to the automating of processes and functions in order
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