Use of WhatsApp Chat Bot in banks

whatsapp chat bot

With the beginning of AI technology and WhatsApp chatbot use, different human-related manual labor systems have changed considerably. Communications, transport, trade and the market have completely changed themselves in different aspects. Change has made the world a completely different place to live.

The detailed journey of each sector using its own appropriate technological direction is long to be taken into account. We’ll see how the bulk of customer service communication changes through the most popular app, WhatsApp.

For clear and simple chat services, WhatsApp was launched again in 2009 by Brian Acton and Jan Koum. Today, this app is a cross-platform messaging service with many of the services attached to it. Allows various forms of online communication, including voice messages, video conferencing, and media access by sharing, sharing documents, and sharing location coordinates with your contacts.

Earlier, WhatsApp was limited to informal relationships and circles of friends. As the service-customer relationship blossoms with expanded versions of social media platforms, WhatsApp has come up with a new business model that provides customer support and customer interaction with WhatsApp Chat Bot.

WhatsApp Chat Bot integration has helped organizations gain a presence in their social network while maintaining employee engagement with customers and growing the organization 10 times as WhatsApp has become the perfect tool to reach a large part of people who use WhatsApp Chat Bot.

In 2018, the official WhatsApp business platform was launched, and business messages were allowed to be delivered, according to any organization’s scenario. Automatic responses and sorting were also allowed along with the organization’s business profile with the help of WhatsApp Chat Bot.

WhatsApp Chatbot services have seen a boom in various industries due to its applicability in all industries. The potential impact of WhatsApp’s application on the banking and financial sector is recently assumed and anticipated.

As described in Retail Banking Trends 2019, streamlining a customer’s journey is one of the top three priorities for the coming years. With WhatsApp Business API, the financial sector supports customer service through instant account balance, thumbnail statement reports, state-of-the-art transaction records and payment transfers in an attractive chat unit.

Common use of WhatsApp Chat Bot in the banking and financial sector

Report fraud or unusual transaction activities using WhatsApp Chat Bot

A quick fix grievance corner in the event of any unusual activity observed in the customer account can be WhatsApp chatbot on WhatsApp. Only one message is on WhatsApp and the additional process will be started by chatbot, all on its own.

There will be no need for human intervention, and the level of vigilance and productivity will be first-rate. The usual delay faced by customers in filing a complaint against any such act would be non-existent. The smooth approach to this use situation is extremely important for mitigating the problem of fraud transactions.

Generating and caring for potential customers

The art of marketing and creating a loyal customer base is just as important as developing the organization’s next five-year development plan. With 2.2 billion WhatsApp users and more than 180 countries connected through this single platform, access to potential customers is easy.

Organically generated quality through WhatsApp Chat Bot helps expand the circle. But to maintain leads, there is a strong demand for a response mechanism for return and follow-up through texts.

To avoid frequent responses, Quick Responses reduces the manual workload of writing thousands of messages. Real-time responses ensure customer satisfaction and build brand awareness as well.

This feature makes the banking and financial industry fully interactive with its customer base. Ads sent over WhatsApp tend to convert at a higher rate than any other platform. This results in profits in the banking and financial sector.

Customer support via WhatsApp Chat Bot

The long queue on any customer service executive number makes users lose interest in the service, and the balance drops, but with WhatsApp Chat Bot, customers can stay familiar with their bank account details, accounts, transactions, savings, current funds and balance, etc.

Also, services are only one click, so hassle-free customer support can be guaranteed. WhatsApp’s notifications can be sent regularly on the user’s registered number, and can remain up-to-date through WhatsApp Chat Bot. The assistance required can be obtained through it.

Banking and home finance

The banking and financial industry deals with a huge amount of documents. The initial stages are very tiring because of the number of form submissions, including Know Your Customer and many other eligibility proofs required as part of the process. This leads to higher landing rates and leads to non-transferable trades in the end.

WhatsApp Chat Bot simplifies the process and makes the process easy to access comfortably at home. The service is generally known as WhatsApp Banking because the whole process is complete on WhatsApp. Public bank account alerts and notifications are constantly sent through WhatsApp Chat Bot.

Even the launch of many loan-related banking campaigns are sent to customers in the form of talk ads. This makes them familiar with the plan and the campaign, and they don’t even have to actually visit the bank.

This WhatsApp app naturally reduces the difficulties customers face when visiting the bank. Whether it’s long queues or endless breaks.

Agent support

Even with the AI system of conversation, human presence may be needed. In these cases, WhatsApp Chat Bot can help with audio and visual sub-bots. Or WhatsApp Chat Bot is a simple ticket system where chatbot will collect your information and schedule a call with the agent.

Because it’s a WhatsApp Chat Bot, it will still be the first level of support to help users with public inquiries. Whatever queries WhatsApp Chat Bot cannot answer, they can be transferred to the agent in real time. In the background, agents help with the conversation journey and useful answers to customer queries.

Personal financial advisor

The general mentality of people who invest their money is somewhat uncertain about the plans and schemes offered by the Bank. They often visit banks or their financial institutions frequently to discuss this and waste time.

On the other hand, WhatsApp Chat Bot takes some input from the user and offers the best plan and scheme according to the requirements and scope of the investor. This saves time and effort so much that investors start to feel comfortable with their financial planning.

Since WhatsApp Chatbot is efficiently advised about financial investment plans, it is also looking for optimal performance for the different plans implemented by investors. It also helps manage the financial plan provided to avoid any gaps.

The best part is to maintain customer insights through WhatsApp Chat Bot and thus successfully raise customer satisfaction. Ensures the best results when the range is outside the range of artificial intelligence. The bot quickly sends an alarm to some human assistance to intervene.

There are a few steps to start using WhatsApp business on WhatsApp, but once customers are adequately informed of its use, the benefits of WhatsApp Chat Bot begin to emerge and help the company grow at 10 times normal.

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