Trends Report

Chatbots In Financial Services Face A Long Journey To Win Customer Trust And Satisfaction

January 29th, 2020

Summary

Chatbots are not the only or best way to drive down the cost of customer service; customers are still more likely to seek help via email or by consulting the FAQ or help sections on a company website before chatting online with a live agent or a bot. Only 19% of US customers feel comfortable using virtual agents for customer service in financial services. While a third of US online adults trust chatbots to handle simple financial tasks, almost two-thirds don’t trust chatbots to handle complex financial tasks. Virtual agents for customer service satisfy up to 66% of US customers, whereas live human interactions please up to 72%. Improving the help or FAQ section of a company’s website is a huge opportunity for firms to drive self-service and customer satisfaction without the high cost and risk of customer experience blunders linked to chatbots.

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