National Australia Bank (NAB) has piloted an artificial intelligence (AI)-powered virtual assistant that will help answer common banking queries for business customers of the bank.
The virtual assistant draws from real-life customer enquiries and can answer over 13,000 variants of 200 business banking-related questions.
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In case a virtual banker is unable to answer a query, a customer will be directed to a human banker.
The service was piloted following a testing and development phase with customers, where more than 75% called virtual banking “a highly desirable offering”.
NAB COO Antony Cahill said: “Our research shows that two thirds of Australian SMEs cite dealing with administrative tasks as taking a lot of effort, and our customers desperately want to spend more time on their business and less time on dealing with admin tasks.
“We’re working hard to make banking an easy and supportive experience for our customers and technology like this helps save business customers critical time. When they have a question about their banking, our virtual banker is there to help solve it 24 hours a day, seven days a week; it’s a simple and seamless on-the-go experience.”
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By GlobalDataCahill said that the bank will further develop the virtual banker in the coming months to cover diverse range of answers.
