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VeriPark’s chatbot module provides conversational banking with transactional capabilities. It enables banks and insurers to deliver intelligent omnichannel self-services 24/7.

 

At a time when personalized, omni-channel customer experiences are becoming the new norm, we recognize the importance of engaging customers in new ways.

VeriPark designed a chatbot module for customer-centric banks & insurers looking to unite all platforms around their customers and shift their communications. With the chatbot, banks & insurers can offer services that go beyond normal business hours, boost sales and increase loyalty.

The chatbot module runs across all digital channels from web to mobile and delivers a holistic communication. In other words, customers can choose the channel that suits them and get the same omni-channel experience everywhere. With the instant chat feature, they can access quick services and get transactional support 24/7. The conversational functionalities of the chatbot enable customers to resolve an issue or get an answer to a question faster than a live person.  What is more, the transactional capabilities allow them to perform transactions such as payments, transfers and loan applications instantly.

Key features

  • Using Natural Language Processing (NLP) for intent and entity recognition to provide a way for systems to understand customers in their own language from any device
  • Interacting with customers to make sure that they get answers to their questions or find what they’re looking for in real-time
  • Using Machine Learning (ML) to better understand customer requests and provide a natural, near-human communication by streamlining and optimizing customer service operations
  • Integration capability with Microsoft Bot Framework and LUIS
  • Integration capability with social channels such as Facebook and LinkedIn
  • Connecting channels to any back end system to carry out the tasks
  • Straight-through processing (STP) capability for routine activities  
  • Offering a mix of both live conversation and speed 
  • Multi-device and multi-platform compatibility: IOS, Android, Windows

Benefits to the banks

  • Facilitating two-way, human-like communications and directing customers to perform many banking transactions using chatbot
  • Offering 24/7 customer support, giving guidance and advice on financial decisions
  • Driving dramatic cost savings by automating transactional enquiries
  • Redirecting workforce to focus on more complex customer issues that require deeper human insight
  • Becoming more interactive with the customers, re-establishing relationship banking, enhancing customer engagement
  • Getting a deeper understanding of customers' behavior and transactions and using this data to deliver highly-targeted personalized offers
  • Making omnichannel banking cost-effective and consistent
  • Gaining actionable insights and using them for cross-sale and up-sale opportunities.

Benefits to the customers

  • Reaching instant and personalized services that are available 24/7 via their preferred digital channel
  • Easy and intuitive banking anytime, virtually anywhere
  • Managing accounts, ordering and cancelling services, making transactions, within seconds
  • Having smooth interactions
  • Getting extensive customer support and guidance on financial matters