23 June 2017
visit www.finastra.com

POSB virtual agent chats with customers on Facebook

20 January 2017  |  5077 views  |  0 Facebook on smartphone

DBS Bank subsidiary POSB is using technology from Kasisto, the firm behind Apple's Siri AI, to enable natural language conversations with customers through Facebook Messenger.

Customers can chat with POSB to enquire about the bank’s products and services via the AI-driven 'POSB digibank Virtual Assistant'. Since launch on 13 January, the majority of the enquiries centred on the bank’s branch locations and foreign exchange rates.



Jeremy Soo, head of consumer banking group (Singapore), DBS Bank, says: “With ‘POSB digibank Virtual Assistant’, customers can converse with us as easily as they would with their contacts - no more calls and no more waiting in line just to get a response. Customers can also soon look forward to conducting their banking transactions via this service.”

He says the bank has spent over 11,000 man hours training the virtual assistant, with actual questions and responses taken from the bank’s customer centre. As the bot learns, more functions will be added, including balance enquiries, fund transfers and card payments.

Soo says chat banking will also be launched in DBS’ other key markets, with plans to extend this service to other mobile messaging apps like WhatsApp and WeChat in the future.

KeywordsSOCIAL MEDIA

Comments: (0)

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

SocGen engages Personetics for chatbot roll out

SocGen engages Personetics for chatbot roll out

16 January 2017  |  6963 views  |  0 comments | 10 tweets | 11 linkedin
YES Bank introduces chat bot for instant loan offering

YES Bank introduces chat bot for instant loan offering

12 January 2017  |  8210 views  |  1 comments | 15 tweets | 8 linkedin
TD Ameritrade lets users 'Ask Alexa' for stock quotes

TD Ameritrade lets users 'Ask Alexa' for stock quotes

16 December 2016  |  6378 views  |  0 comments | 5 tweets | 6 linkedin
Emirates NBD tests virtual assistant EVA

Emirates NBD tests virtual assistant EVA

21 November 2016  |  5175 views  |  0 comments | 2 tweets | 3 linkedin
OCBC enables cash transfers via Siri and iMessage

OCBC enables cash transfers via Siri and iMessage

28 October 2016  |  11399 views  |  0 comments | 12 tweets | 15 linkedin
Mastercard builds chatbots for banks and merchants; teams with Fit Pay

Mastercard builds chatbots for banks and merchants; teams with Fit Pay

25 October 2016  |  9790 views  |  0 comments | 21 tweets | 20 linkedin
Bank of America to roll out AI chatbot

Bank of America to roll out AI chatbot

25 October 2016  |  10587 views  |  0 comments | 10 tweets | 25 linkedin
Thinking Capital launches AI-powered chatbot

Thinking Capital launches AI-powered chatbot

18 October 2016  |  9198 views  |  0 comments | 13 tweets | 9 linkedin
Facebook Messenger adds chatbot payments support

Facebook Messenger adds chatbot payments support

12 September 2016  |  9881 views  |  0 comments | 34 tweets | 28 linkedin
Bank of Ireland lands on Snapchat

Bank of Ireland lands on Snapchat

05 September 2016  |  7145 views  |  0 comments | 11 tweets | 6 linkedin
Banks should back off from clunky chat bots - Forrester

Banks should back off from clunky chat bots - Forrester

02 September 2016  |  8085 views  |  0 comments | 11 tweets | 12 linkedin
Rise of the bots: DBS to put virtual assistant in Facebook Messenger

Rise of the bots: DBS to put virtual assistant in Facebook Messenger

17 August 2016  |  8255 views  |  0 comments | 11 tweets | 14 linkedin
Absa to trial AI-driven chatbots to answer customer queries

Absa to trial AI-driven chatbots to answer customer queries

26 April 2016  |  7390 views  |  0 comments | 12 tweets | 10 linkedin
Meet Luvo, Royal Bank of Scotland's new virtual assistant

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

04 March 2016  |  10105 views  |  0 comments | 14 tweets | 20 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.www.fisglobal.comvisit wavestone-advisors.co.ukvisit www.finastra.com

Top topics

Most viewed Most shared
Santander's Openbank relaunched as 100% digital bankSantander's Openbank relaunched as 100% di...
15905 views comments | 48 tweets | 61 linkedin
Worldpay pilots app-only mPOS for small retailersWorldpay pilots app-only mPOS for small re...
8429 views comments | 17 tweets | 26 linkedin
Live: EBAday 2017, day twoLive: EBAday 2017, day two
8043 views comments | 4 tweets | 5 linkedin
UK banks will need to change one million sort codes under ring-fencing rulesUK banks will need to change one million s...
7426 views comments | 8 tweets | 25 linkedin
Live: EBAday 2017, day oneLive: EBAday 2017, day one
7412 views comments | 3 tweets | 4 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job