Commerzbank is releasing an AI avatar called Ava to interact with the German lender's private and small business customers in "natural and engaging conversations".
Customers can converse with Ava in natural language and receive general information and personalised advice on various banking services.
The fruits of an 18-month project, the avatar is powered by Microsoft Azure OpenAI Service for advanced GPT models and is modelled after the likeness of an actress.
“Commerzbank is one of the first banks to combine generative AI and avatar technology in a customer application. By introducing Ava, we are setting a new standard in digital banking,” said Thomas Schaufler, board member for private and small-business Cdustomers at Commerzbank. “Our goal is to provide our customers with suitable solutions that make their everyday banking transactions as quick, easy, and convenient as possible.”
In addition to answering general questions about Commerzbank products, Ava can also provide more detailed information about the customer’s own banking needs and the products it holds with the bank.
Ava also enables the digital execution of banking transactions directly within the dialogue, including ordering a new credit card, blocking or unblocking a current credit card, or changing limits.
For more complex inquiries, customers are referred to experts in the bank’s customer centre. Schaufler says Ava’s service will be gradually expanded to incorporate customer feedback.
Ava will initially speak German; a later version will also support English.