Over the past several years, most banks have experimented with virtual assistants in one form or another — deploying chatbots in mobile banking apps, automating FAQs across digital channels, or piloting conversational support journeys designed to reduce customer effort.

While some of these initiatives showed early promise, very few have scaled in a meaningful or sustainable way.

The Experimental Phase Is Over

Consumers have already answered the question of whether they’re willing to engage with conversational AI in financial services — and increasingly, the answer is yes. A growing number now turn to conversational AI tools to ask questions about financial concepts, compare product options, or seek guidance in moments of uncertainty that might previously have required a call to a contact center or a visit to a branch.

Importantly, these interactions don’t always happen within the bank’s own channels.

You Now Risk Interface‑Level Disintermediation

Third‑party AI assistants like ChatGPT or Gemini are rapidly becoming the first destination for financial questions, often because they are perceived as more accessible, faster to respond, or capable of translating complex financial topics into plain language. Forrester data from March 2026 shows that today, nearly one in three consumers (31%) in the US, Canada, and the UK uses conversational AI for at least some personal finance questions – and 24% of them do so via tools that sit outside their bank’s ecosystem. This shift introduces both a new opportunity and a new risk for financial institutions: The possibility that customer relationships become mediated through external interfaces rather than owned channels.

Why Scaling Remains Difficult

For banks, the challenge is no longer whether to upgrade their chatbot. Conversational banking isn’t simply another layer on top of existing digital channels. It represents the gateway to a new engagement model — one that has the potential to improve access, reduce effort, and support customers through increasingly complex financial decisions across their financial lives.

Delivering this model at scale requires intentional design across technology, data, and operating frameworks. It also demands that trust be embedded from the outset, so interactions are explainable, accountable, and consistently aligned with customer outcomes.

Join The Conversation At CX Summit EMEA

At CX Summit EMEA 2026, taking place June 8–10 in Amsterdam, I’ll explore this topic in more depth in my session, Beyond Chatbots: Design Conversational Banking Experiences To Scale. Drawing on new research, we’ll look at how leading banks are moving beyond pilots to scale conversational banking safely — and what it takes to deliver trusted, outcome-led experiences in practice.