DBS “bank conversationally”
Development Bank of Singapore (DBS) is to roll out its latest innovation “bank conversationally” in India by end of this year, enabling customers to use their preferred mobile messaging app.
The Artificial Intelligence (AI) based innovation will allow DBS customers to access banking services quickly on Facebook Messenger, said the bank.
India is DBS’s highly rated emerging market with its growing network of internet- and mobile-driven apps.
In April, DBS launched “digibank”, India’s and DBS’ first mobile-only bank.
“Digibank”, a revolutionary offering, brings together an entire suite of ground-breaking technology – from biometrics to AI – to enable customers to enjoy a whole new way of banking.
The “bank conversationally” innovation will also be launched by end of this year in Singapore, along with India, and expanded to other key markets then onwards.
DBS said it plans to extend this service to other mobile messaging apps like WhatsApp and WeChat in the future.
DBS is investing SGD200 million on digital banking across its regional markets over three years beginning 2014.
DBS is working with US-based Kasisto, a spin-off from SRI International which created the technology behind Siri (Apple’s voice assistant), to deliver this service.
Kasisto’s conversational AI platform, KAI, powers smart bots and virtual assistants with deep banking knowledge.
Sandeep Lal, DBS Bank’s Regional Head of eBusiness, said “We know that our customers are spending time conversing on their favourite mobile messaging app, and we are immersing ourselves in the customer journey by making it easier and more convenient for them to engage us.
“With the launch of this service, customers can converse with their bank as they would their contacts, and we will handle the rest with a strong focus on security – it’s that simple,” Lal said.
Olivier Crespin, DBS Bank’s Group Head of Digital Bank, added “With increasingly tech-savvy customers and rising smartphone usage, we have designed our digital banking services to be innovative and nimble enough to address customer needs, and be able to provide an intuitive and relevant banking experience.” fii-news.com
