Chatbots - A new era in digital banking

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  • Chatbots A new era in digital banking

    Sotiris Alexopoulos Head of Operations, Warply NBG i-bank, #fintech crowdhackathon Be Finnovative !, #fintech workshop

  • Mobile Lanscape

    Case studiesBots

    Chatbot Banking

  • 0

    18

    35

    53

    70

    2010 2013 2016 2019 20224% 6%

    8%13%

    20%

    28%

    37%

    44%50%

    54%59%

    62%66%

    69%

    Smartphone penetration

  • Users (in Bn)

    0

    1

    1

    2

    2

    2015 2016 2018 2019

    1.07Bn

    1.40Bn

    1.61Bn1.81Bn

    2.00Bn2.19Bn

    Messaging mobile app users

  • Instant Messages sent per day (in Bn)

    0

    55

    110

    165

    220

    2014 2015 2017 2018

    30Bn

    100Bn

    130Bn

    160Bn

    200Bn

    220Bn

    Mobile instant messaging

  • Monthly Active Users (in M)

    WhatsApp

    Facebook Messanger

    WeChat

    iMessage

    Viber

    LINE

    Kakao Talk

    Snapchat

    BBM

    Tango

    Telegram

    0 200 400 600 800

    50

    70

    100

    140

    150

    170

    240

    280

    500

    550

    750

    Global Messaging app leaders

  • The historical moment of messagingMonthly AcCve Users for Cp messaging apps versus

    Social Networking apps (in M)

    0

    1,000

    2,000

    3,000

    4,000

    2012 2013 2015 2016

  • Hou

    rs

    0

    150

    300

    450

    600

    2015 2016 2017 2018 2019 2020

    $173Bn$158Bn$138Bn

    $119Bn$99Bn$80Bn $79Bn$69Bn$60Bn$51Bn$43Bn$35Bn

    $252Bn$253Bn$242Bn$234Bn$231Bn$213Bn

    Desktop Tablet Mobile

    US Mobile Commerce forecast (sales in $ Bn)

  • Hou

    rs

    0

    2

    3

    5

    6

    2008 2009 2010 2011 2012 2013 2014 2015

    2.8h2.6h2.3h1.6h0.8h0.4h0.3h0.3h 0.4h0.3h0.3h0.3h0.3h0.4h0.3h0.2h

    2.4h2.4h2.3h2.5h2.6h2.4h2.3h2.2h

    Desktop / Laptop Other connected devices Mobile

    3h/day per user @ mobile

    Time spent (per adult per day) on mobile

  • Mobile landscape58% smartphone penetration in Greece

    47% smartphone penetration worldwide

    44% usage of mobile data

    76% of word smartphone users use social media networks

    3h/day per user @ mobile

    78% of smartphone users use an over-the-top (OTT) mobile messaging app

    80% of time spent on apps

    30 spent per day on messaging apps

  • Bots

    Mobile Landscape

    Case studies

    Chatbot Banking

  • Bots

    A bot is a software application that runs automated tasks (scripts) over the internet. Typically, bot perform tasks that are both simple and structurally repetitive, at a much higher rate than would be possible a human.

    A chatbot is designed to work on conversation with people and existing chat app or social network

    Usually AI is embedded in a chatbot so the chatbot can understand the context and perform much more complicated tasks than what a bot does.

  • Why is this huge?

    one chat app = all services needed

    shift to conversational UI

  • Chatbot builders

    telegram chat fuel Prompt

    Along with developing new conversation base service, many existing app/service developers try to apply conversational UI.

    Several CDKs (Chat Development Kit) are offered to build a bot aligned with existing services.

  • Summary

    Big shift from app to chat, Facebook took this path

    Chat app may become the primary access of users and center of services

    Chatbot will play a main role as a primary touch point of users to services

    Developers will be required to to cope with conversational UI

    The challenge is to bypass incumbent vertically integrated players (Apple and Google)

    The key to success is to offer a better UX than existing mobile services

  • Chatbot Banking

    Case studies

    Mobile Landscape

    Bots

  • Utility - KLM flight updates

    Notification for check-in

    Once book fight, agree to start up a chat thread on Messenger app

    Flight status updates

    Boarding pass

    Get booking confirmation

  • Personal travel agent - Hyper bot2human2human

    Adjust to ones preferences and budget, the more the reaction the more understanding.

    Support any type of messaging, email, iMessage, app, messenger etc

    Combine human expertise with automated and quick responses

    Time lapse responses come from bots, edited by human agents

    Support decision making, data driven recommendation

  • Shopping - Sephora Conversational commerce

    Then serve relevant content, insights tailored to ones facial shape etc

    Welcome users Hi Rachel, welcome to Sephora!

    Click to directly shop without having to leave the app

    Know users better by Do you want to take short quiz?

  • Hiring - Codefights versus Bots

    Solve some of the core everyday challenges

    Recruiting codefights versus bots, not humans

    Challenges specific to needs of the company

    Writing code and review existing code challenges

    Quick and accurate evaluation of the participants

  • Scheduling assistant - X

    The bot emails the guest

    When a meeting request is made

    Exchange emails in order to set details

    Respond with cc a dedicate bot email

    When details are set, receive bot a meeting invitation

  • Case studies

    Chatbot Banking

    Mobile Landscape

    Bots

  • Receive and submit information

    Instant information on various topics, i.e. rates or terminology

    Consulting information

  • Apply for a credit card

    Compare credit card benefits

    Instant information on various topics, i.e. rates or terminology

    One click action to proceed to card application

    Consulting information

    Update or confirm alterations on personal data and submit evidence

  • Report a card loss

    Compare credit card benefits

    Instant information on various topics, i.e. rates or terminology

    One click action to proceed to card application

    Consulting information

    Update or confirm alterations on personal data and submit evidence

  • Handle routine transactions

    The bot emails the guest

    When a meeting request is made

    Exchange emails in order to set details

    Respond with cc a dedicate bot email

    When details are set, receive bot a meeting invitation

  • References

    - Pew Research Center Spring 2015 Global Attitudes survey - OTE Investors report - KPCB mobile technology trendsby Mary Meeker. - http://www.gsmamobileeconomy.com/

    GSMA_Global_Mobile_Economy_Report_2015.pdf - Marc Beacue Consulting, The Economist - Portio Research; a16z; Company reports - emarketer - Ericsson Mobility Report - BI Intelligence - Forrester Research Mobile and Tablet Commerce Forecast, 2015 to 2020 (US)

  • Thank You/warply

    @warply

    info@warp.ly

    /warply

    mailto:info@warp.ly?subject=