Financial institutions have deployed chatbots and virtual assistants for over a decade . Early versions of these tools handled basic account queries and transaction processing and initially served to reduce pressure on call centres and provide 24-hour service for routine banking tasks .

But the emergence of more sophisticated AI capabilities has prompted banks to reconsider how these digital tools can support customer relationships . While previous generations of banking chatbots responded to specific commands , new AI assistants can analyse patterns ,

predict needs and even provide personalised recommendations .

This evolution in AI capabilities coincides with structural changes in retail banking . As branch networks shrink and digital channels become primary touchpoints , financial institutions face pressure to maintain personal relationships with customers at scale . The challenge lies in providing financial guidance through digital channels while preserving the trust and engagement traditionally built through face-to-face interactions .

Desjardins Group , North America ’ s largest financial co-operative , has responded to this challenge by deploying an AI virtual assistant that provides financial guidance to all its members and clients using its mobile app as part of its digital transformation programme .

This virtual assistant , Alvie , combines financial insights with money tracking capabilities to help members manage expenses . Through its Monthly Activity