Manulife Bank deploys Kasisto’s AI chatbot
Kasisto, creators of KAI, the digital platform for the financial services industry, is deploying MAI, a conversational artificial intelligence (AI) solution for millennials at Manulife Bank, the banking division of insurance giant, Manulife.
MAI can help customers keep track of their balances, get insight into their spending habits, find the closest ATM, and answer their personal finance questions.
“Manulife Bank’s commitment to helping customers manage their money and save more matched perfectly with Kasisto’s vision to enable customers to make better financial decisions through human-like conversational AI,” says Zor Gorelov, CEO and co-founder of Kasisto.
“Canadians are looking for clarity, simplicity, and value from their bank. This applies equally to technology they use to bank,” says Rick Lunny, President and CEO, Manulife Bank. “We sought the input of Canadians, user tested, prototyped and reimagined the customer banking experience to offer a complete digital banking package infused with artificial intelligence.”
This new solution will be part of the Manulife ‘All-In Banking Package’, which all the essential banking needs and allows Canadians to sign up for a multi-product banking experience in four minutes.
Some of these products, according to the firm, are unlimited transactions, an everyday bank account, a high-interest savings account, no-fee cash back credit card, and travel insurance. This includes a year of Amazon Prime and two months of Audible when customers make ten or more debit or credit purchases in each of the first two full months.
The bank charges $10 per month for its services, or customers can have this fee waived entirely by simply growing their savings by $100 in any one month.
In addition to Manulife, other banks such as: DBS Bank, Standard Chartered Bank, TD Bank, Emirates NBD’s and Liv, use KAI to create virtual assistants.
How about chatbots as being an always-on customer engagement agents?
Chatbots will be critical in the future evolution of banking and financial services to provide always on intelligent customer service. They provide for customer support and account inquiry, require minimal setup and streamline and improve the customer operational support process including a substantial reduction in operational and service costs. We at Engati have started this evolutionary journey. Do visit us and provide us with your valuable feedback as we strive for more mainstream acceptance of this technology of the future.