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	<title>Business Archives - #1 in Conversational Banking — Chatbots.Studio</title>
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	<description>Digital transformation for banking products in conversational channel. Chatbots for banks development. Digital Bank in Apple Business Chat, Google Business Messages, WhatsApp, Messenger, Viber, Telegram, Line, WeChat and other messengers</description>
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	<title>Business Archives - #1 in Conversational Banking — Chatbots.Studio</title>
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		<title>The Chatbot’s Role In The Internet Banking Ecosystem</title>
		<link>https://bank.chatbots.studio/blog/the-chatbots-role-in-the-internet-banking-ecosystem/?lang=en</link>
		
		<dc:creator><![CDATA[Max Popov]]></dc:creator>
		<pubDate>Thu, 06 Feb 2020 10:10:45 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Business]]></category>
		<guid isPermaLink="false">https://bank.chatbots.studio/?p=520</guid>

					<description><![CDATA[<p>One of the most popular trends in banking is chatbot implementation, as a part of internet banking.  Someone thinks that...</p>
<p>The post <a href="https://bank.chatbots.studio/blog/the-chatbots-role-in-the-internet-banking-ecosystem/?lang=en">The Chatbot’s Role In The Internet Banking Ecosystem</a> appeared first on <a href="https://bank.chatbots.studio">#1 in Conversational Banking — Chatbots.Studio</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>One of the most popular trends in banking is chatbot implementation, as a part of internet banking. </p>



<p>Someone thinks that chatbot is a specific and separate digital channel. Actually, a chatbot is a mandatory continuation of Internet banking. It is not a good idea to avoid internet banking and replace it with a chatbot. It simply does not work out. The reason is the lack of experience, professionals, and absence of the revealing success stories. There is the fear of the unknown. So, now chatbots and internet banking successfully coexist. </p>



<p>A chatbot is not a reason to avoid mobile applications or web applications. Let’s see why that is. The mobile application has one significant barrier to installation and uses &#8211; the mobile app download. Chatbot hasn’t this barrier. On the other side, the chatbot has limited functionality, in this case, a mobile app is in use. Also, the mobile app is certified and has access to NFC (is a set of communication protocols that enable two electronic devices to establish communication by bringing them within 4 cm of each other). Don’t contra pose the chatbot to mobile/web application. They work together as a symbol and should be both implemented.</p>



<p>Taking into account the chatbot place in internet banking, there are two main goals:</p>



<p>The first one is the simplification of the onboarding of new clients. Also, chatbot increases the number of loyal clients with referral links. </p>



<p>The second one is the status of ordered services or goods. There are stages of development, delivery, etc. All the communication held by a chatbot. When the ordered services are made, communication is in the following ways: </p>



<p> &#8211; the client continues to use a chatbot</p>



<p> &#8211; the client uses the mobile application if he wants to have stronger security and wider functionality</p>



<p>A good example of a chatbot and internet banking integration is Vostok Bank. See the screenshot below where the chatbot and internet banking functionality showed. </p>



<p>Of course, you can try to include all web site or mobile app features to a chatbot, but it will be a non-user-friendly virtual assistant. </p>



<p>A chatbot is a good channel for the following features:</p>



<ul class="wp-block-list">
<li>Mobile phone recharge</li>
<li>Card to card transactions</li>
<li>Balance status notifications<br /><br /></li>
</ul>



<p>The other features are available on mobile or web applications. Chatbot supplements mobile app or expands web bank in messenger. </p>



<p>The third one is reducing costs for transactions. Let me describe the example of a well-known bank. If the client has a mobile app, he gets the notification here. If the client doesn’t want to use a mobile app, he has a chance to choose the other channel for communications like a chatbot. The chatbot sends a notification regarding transactions (including small one). Some banks have a limit for notifications. For example, if you transferred less than 100 UAH (around 4$), you didn’t get the notification via SMS. It is expensive. The chatbot does it for free. So, people should choose the other channel of communication like a chatbot. </p>



<p>To sum up, the Chatbots.Studio team is convinced that a chatbot is not an independent separate element from Internet banking. A chatbot is the great “bridge” between clients and mobile app/internet banking. A virtual assistant helps to increase the number of clients and simplify the onboarding to internet banking process. </p>



<p>If you are interested in knowing what the chatbot value is for your bank, contact us igor@chatbots.studio. We are the market leader and top bot development company, so we’re ready to provide info on how your finance business could increase the size of your client base with a chatbot. </p>
<p>The post <a href="https://bank.chatbots.studio/blog/the-chatbots-role-in-the-internet-banking-ecosystem/?lang=en">The Chatbot’s Role In The Internet Banking Ecosystem</a> appeared first on <a href="https://bank.chatbots.studio">#1 in Conversational Banking — Chatbots.Studio</a>.</p>
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			</item>
		<item>
		<title>Chatbots Value for Banking</title>
		<link>https://bank.chatbots.studio/blog/chatbot-value-for-banking-and-finance/?lang=en</link>
		
		<dc:creator><![CDATA[Igor Luzhanskiy]]></dc:creator>
		<pubDate>Wed, 05 Feb 2020 11:59:39 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Business]]></category>
		<guid isPermaLink="false">https://bank.chatbots.studio/?p=497</guid>

					<description><![CDATA[<p>Banks use a lot of channels to connect with existing clients. There are offline offices, online support with live agents,...</p>
<p>The post <a href="https://bank.chatbots.studio/blog/chatbot-value-for-banking-and-finance/?lang=en">Chatbots Value for Banking</a> appeared first on <a href="https://bank.chatbots.studio">#1 in Conversational Banking — Chatbots.Studio</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>Banks use a lot of channels to connect with existing clients. There are offline offices, online support with live agents, etc. And plenty of ways to collect audiences for these channels are already known. Now, a common marketing channel is a mobile application. But how to collect the audience in the new digital channel? </p>



<p>&nbsp;</p>



<h2 class="has-text-align-center wp-block-heading"><strong>A chatbot is an additional channel for collecting clients of the bank</strong></h2>



<p>In this case, banks via messenger help. Wait. What’s this? We call them chatbots. They serve clients in different messengers: Viber, Facebook Messengers, Telegram, WhatsApp, etc. </p>



<p>What is the main value of this chatbot? We become accustomed to using traditional channels for collecting clients. Chatbot brings the clients to the bank and gives them the usual service in a convenient, handy channel &#8211; messenger. Most of the clients have already installed messenger apps and use it at least twice a day.  Let’s be honest here, many of us use them for hours on end. So the bank is in the right place where the user spends a lot of time. </p>



<p>We described how to bring the client into mobile applications. There is the question of how to accustom the clients to use the chatbot? Any digital advertisement is a good way to introduce the chatbot to your client. There are Facebook Ads or other advertising lendings with great Call To Action that encourages to open the messenger. At this moment, the chatbot provides the service. </p>



<p>In the first stage, it is important to encourage the client to use the chatbot and give the value of having a conversation with a virtual assistant. The value could be the prepaid card or premium card issuance. There is a scenario: the user connects to a chatbot, gets the value like prepaid card, activates card, and gets it in a few clicks. Easy? Yes! Reduce time? Yes! The service sold? Yes-yes! <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f642.png" alt="🙂" class="wp-smiley" style="height: 1em; max-height: 1em;" /> </p>



<p>On the other side, all of the aforementioned features are available in the mobile application. So why we are talking about chatbot? The mobile app requires downloading and installation. How many apps did you install in the last few months? I am sure not much. Will you install the app of the bank (you are not the client os it)? Probably, not. So, on this step, the number of potential clients is decreasing. Chatbot offers the value now! </p>



<figure class="wp-block-image size-large"><img decoding="async" class="wp-image-506 aligncenter" src="https://bank.chatbots.studio/wp-content/uploads/2020/01/01_Chatbot-1024x469.jpg" alt="" /></figure>



<h2 class="has-text-align-center wp-block-heading"><strong>Bank product in the messenger</strong></h2>



<p>Let’s consider which services the bank offers to the client in messengers. In  Chatbots.Studio we offer the end-user the same experience as to the client-bank. </p>



<p>Chatbots provides online operations for card updating, user verification, etc. If we consider the chatbot’s value for the end-user, we would like to add the following: </p>



<ul class="wp-block-list">
<li>Card to card transaction</li>
<li>Utility bills payment</li>
<li>Internet payments</li>
<li>The prepaid card in Google or Apple Wallet. </li>
</ul>



<p>While talking about bringing clients to the chatbot in messenger and audience increasing, let’s consider a referral program. The program is easier and native in the chatbot. The user can send the chatbot link to all contacts in the mobile phone. Why is it so good at work? The message in the messenger open rate is very high. Will you open the inbound message from your friend? Probably, yes. Also, the sender gets bonuses for sending referral links. </p>



<p>We described below the scenario of how to engage with the bank client and increase the conversion with great value for the end-user and business. </p>



<p>Take a look at our case studies and explore features that could be implemented in your banking chatbot solution:</p>



<ul class="wp-block-list">
<li><a href="https://bank.chatbots.studio/case-study/">Viber chatbot for Concord bank </a></li>
<li><a href="https://bank.chatbots.studio/vtb-case-study/" target="_blank" rel="noreferrer noopener" aria-label="Facebook Messenger chatbot for VTB bank (opens in a new tab)">Facebook Messenger chatbot for VTB bank</a></li>
</ul>
<p>The post <a href="https://bank.chatbots.studio/blog/chatbot-value-for-banking-and-finance/?lang=en">Chatbots Value for Banking</a> appeared first on <a href="https://bank.chatbots.studio">#1 in Conversational Banking — Chatbots.Studio</a>.</p>
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