31 July 2016
Find out more

Atom Bank to deploy 'intelligent software' to answer customer queries

15 March 2016  |  8472 views  |  3 Woman leaning on wall using smartphone

Atom Bank is to augment its mobile banking service with machine learning technology from Xerox subsidiary WDS, to provide customers with answers to queries from an AI bot within the app.

Due to launch shortly, the UK challenger bank is integrating the WDS Virtual Agent software tool into its mobile app to give customers the power to self-serve by getting immediate answers directly from the app.

The virtual assistant will learn through analysing customer behaviour, problems and solution success rates, increasing its effectiveness over time says Helen Wilson, Atom’s head of customer service.

“We are setting out to offer a very different banking experience for our customers, using advanced technology to help provide customers with easy and intuitive ways to manage their money," she says. "Ensuring help is always available is vitally important to us and the WDS Virtual Agent is an intelligent way of us helping our customers.”

If the app can’t fix a problem, WDS is also providing Atom with 'Agent IQ' software, which guides the human customer support team with the best questions to ask customers. This software will also learn which agents are getting the best results and feeds that learning through to the rest of the team so customer queries are handled consistently in the best way.

Atom Bank is not alone in the deployment of machine learning tools to improve customer service. Royal Bank of Scotland last week announced that it is exploring the potential of using an AI bot - dubbed Luvo - to answer customer queries following a successful two-month trial of the technology among 1200 staff.

Comments: (3)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 17 March, 2016, 08:54

Hope it works better than the bot encountered by Stanley Bing on an insurance company website

If We Teach Machines To Think, Will They Be as Stupid as People?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 19 April, 2016, 16:40

In the words of Sergeant Wilson from Dad's Army, "Do you think that's Wise?". For a new bank intent on earning affection from UK consumers with relatively low pain threshold, I worry about the virtual assistant learning on the job.

Such bots may need to have some quiet time in the back office learning in parallel while staff handle calls. I expect staff will be at the ready to pick up calls that are not working out before irritation levels set in - but even this process is likely to need tweaking to ensure British-style irritation level is correctly guaged.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 19 April, 2016, 18:30

@CharmaineOak: LOL but very valid point! Was a time when I used to think I was smarter than bots but I still couldn't gauge "British-style irritation level" on numerous occasions. While I can LOL about them now, they were terribly embarrassing at the time!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Atom acquires IT development agency Grasp

Atom acquires IT development agency Grasp

08 March 2016  |  8238 views  |  2 comments | 23 tweets | 14 linkedin
Meet Luvo, Royal Bank of Scotland's new virtual assistant

Meet Luvo, Royal Bank of Scotland's new virtual assistant

04 March 2016  |  7554 views  |  0 comments | 14 tweets | 19 linkedin
Atom Bank to launch with face and voice biometrics

Atom Bank to launch with face and voice biometrics

16 December 2015  |  11858 views  |  0 comments | 32 tweets | 32 linkedin
BBVA buys 29.5% stake in Atom for £45 million

BBVA buys 29.5% stake in Atom for £45 million

24 November 2015  |  11686 views  |  1 comments | 34 tweets | 42 linkedin
Atom chief launches ferocious assault on 'dinosaur' banks

Atom chief launches ferocious assault on 'dinosaur' banks

13 November 2015  |  11287 views  |  10 comments | 30 tweets | 31 linkedin
Atom taps Durham University maths department to develop new banking model

Atom taps Durham University maths department to develop new banking model

02 September 2015  |  8417 views  |  0 comments | 13 tweets | 7 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreVisit capgemini.com

Top topics

Most viewed Most shared
Groupe BPCE agrees to buy FidorGroupe BPCE agrees to buy Fidor
8833 views comments | 38 tweets | 56 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
7257 views comments | 16 tweets | 22 linkedin
hands typing furiouslyManaging Big Data After Brexit
6950 views 0 | 6 tweets | 8 linkedin
hands typing furiouslyWhat is FinTech and where does it Live?
6156 views 0 | 14 tweets | 4 linkedin

Featured job

Find your next job