American Express Archives

Top 3 2018 Predictions for Artificial Intelligence in Banking

April 9, 2018 AI Banking

2018 is going to be an exciting year for the financial services industry, especially for banks. Banks are investing massively in digital transformation with the primary objective of improving customer experience. Implementing artificial intelligence (AI) to improve existing operational processes is going to be a top priority for many banks too. Here’s our take on …

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Payjo-Powered SBI SIA Revolutionizes the AI and Banking Industry

September 25, 2017 AI Banking

Silicon Valley-based startup Payjo has launched an Intelligent Assistant for State Bank of India (SBI), one of the world’s largest banks with 420MM customers. SBI’s Intelligent Assistant or SIA, an AI-powered chat & voice assistant, answers customer inquiries instantly and helps customers with everyday banking tasks just like a bank representative. SIA will enable SBI …

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Conversational Banking: The Advent of a New Banking Era

September 11, 2017 AI Banking

Gone are the days when we had to go down to a brick-and-mortar bank and file mundane paperwork to carry out basic banking tasks. Though internet banking helped solve this to an extent, it is still cumbersome as websites/ apps are not easy to navigate and customers often have to sieve through an overload of …

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Hot Bot Trends to Watch Out For in 2017

January 30, 2017 AI Banking

We witnessed a lot of buzz around Artificial Intelligence (AI) and Bots, in particular, in 2016. As the year progressed, there was enormous interest generated over the technology, which led to more research and investment being put in by big companies as well as start-ups. Going forward, what can we expect in 2017? Will 2016’s …

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ChatBots in Banking Report: How Bots can Transform Digital Banking

January 20, 2017 AI Banking

Difficult market conditions and competition from digital savvy entrants have been challenging traditional banks. But a solution is emerging that will enable these legacy players to innovate at relatively modest costs: chatbots. Chatbots are software programs that primarily use business-to-consumer (B2C) text-based messaging as the interface through which to carry out any number of tasks. They appeal …

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Forrester Fintech Predictions for 2017

January 16, 2017 AI Banking

A new year brings new opportunities for banks facing digital challenges and building next generation digital banking experiences. Advances in fintech technology are paving the way for better, more engaging experiences in 2017 and beyond. A few weeks ago Forrester announced 2017 predictions presented by Dane Anderson, Tim Sheedy, Tom Champion and Zhi-Ying Ng. While forecasting the future can be a gamble, the first three Fintech …

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Soon, Bots will Assist You in Banking

December 13, 2016 AI Banking

Silicon Valley-based artificial intelligence company Payjo is set to launch banking bots in India in collaboration with Yes Bank and RBL. The company has signed deals with the two banks and is in talks with other public and private sector banks to launch banking bots or robots by early next year, CEO Srinivas Njay said. …

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Facebook Banking Bots: You may Never have to Sit on Hold with Your Bank Again

November 1, 2016 AI Banking

Financial services businesses are quickly launching new Facebook Messenger chatbots to improve their customer service experience, an area where banks have often lagged. Mastercard recently unveiled a new chatbot for banks and merchants to help them deliver better mobile experiences, something consumers now expect. “We are seeing consumer preferences shifting and we want to make sure that …

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Banks Bet on the Next Big Thing: Financial Chatbots

October 26, 2016 AI Banking

Your bank really wants to chat. This week Bank of America, MasterCard and several financial start-ups announced new tools — known as chatbots — that will allow customers to ask questions about their financial accounts, initiate transactions and get financial advice via text messages or services like Facebook Messenger and Amazon’s Echo tower. The early versions of the financial …

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Redefining Banking Experiences: From Branches to Bots

September 28, 2016 AI Banking

This year, much has been talked about the rise of chatbots and their potential to change consumer interactions with businesses. Like most industries, banks have dived into this emerging trend to drive better experience and chatbots are likely to replace, compliment and supplement all possible consumer interface with banks. They are set to be the most significant …

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