Despite having overcome the crisis that began with the collapse of the Lehman Brothers, the financial industry has since faced a new context characterized by more restrictive regulations - especially in terms of provisions - and a greater distrust from consumers, who demand more personalization and accessibility regarding their financial products and services.
This double factor has led banks to a complex situation: one on hand, their profit margins have decreased; on the other, they have noticed how their customers’ loyalty has wavered. All of this has forced them to combine efforts to increase efficiency and reduce costs, while at the same time offering a better customer service.
Reconciling these two goals, seemingly opposed, is possible thanks to a greater use of technology. Specifically, chatbots are called to play a key role. In this post we want to talk about the role of chatbots in the financial industry, and what challenges this technology will have to overcome to become mainstream.
This post is also available in Spanish.