Conversational banking: Customer engagement in the digital era

STARTUPS and fintech companies are revolutionising the banking industry, challenging its traditional norms and achieving remarkable success. The profound influence of digitalisation in finance is evident, ranging from highly-tailored financial guidance to automated trading algorithms.

In today’s context of overwhelming consumer choices, the question arises: How can brands effectively engage their customers? The key lies in creating a conversational experience.

Changing customer needs, evolving industry strategy 

Conversational banking has gained significant traction in the Asia-Pacific, revolutionising how customers interact with their banks. Several financial institutions across the region have embraced this innovative approach, leveraging advanced technologies such as artificial intelligence (AI) and natural language processing. Conversational banking provides customers with a seamless and personalised experience through chatbots, virtual assistants, and voice-enabled interfaces. It allows them to perform various banking activities effortlessly, including checking account balances, making transactions, and obtaining financial advice.