Trends Report

The State Of Chatbots In Financial Services

Most Consumers Are Neither Interested Nor Comfortable Using Chatbots For Financial Activities

August 5th, 2020
Aurelie L'Hostis, Principal Analyst
Aurelie L'Hostis Principal Analyst
Peter Wannemacher, Principal Analyst
Peter Wannemacher Principal Analyst
Luis Deya, null
Luis Deya
With contributors:
Oliwia Berdak , Ian Jacobs , Julie Ask , Sam Bartlett

Summary

The hype surrounding chatbots remains high and COVID-19 has put pressure on customer service teams, but digital teams in financial services firms should remain wary of any push to roll out chatbots faster than their customers want or than their systems can support. Artificial intelligence is evolving fast, but today's virtual assistants are not yet equipped to handle any and all financial tasks. This report provides an overview of customer adoption and perception of chatbots in financial services, the state of enterprise offerings, and a glimpse into the future.

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