Trends Report

Chatbots In Banking Fall Into Two Distinct Categories

November 5th, 2020
With contributors:
Oliwia Berdak , Corrado Loreto

Summary

To help tech teams decide on the best technologies to support the business objectives of their banks, this research shows them how to differentiate between two broad chatbot categories: simple and sophisticated chatbots. Before the pandemic, banks used chatbots to both increase automation and improve CX. COVID-19 and its associated containment measures are accelerating digital transformation and automation in financial services. Many banks are either augmenting existing chatbot services or rolling out new ones to cope with an increase in customer query volumes and, potentially, a reduction in staffing levels. To find out more about these categories, read the forthcoming Forrester report about emerging technologies in banking or schedule an inquiry for more information.

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