Benefits of a chatbot for the financial sector
Fintech Chatbot

What is a chatbot?
A chatbot is a customer experience tool. When integrated into a website, it improves the customer experience and allows a brand to stand out by increasing customer reliability. It does this by answering general FAQs and helping to conduct various types of industry related inquiries.

The current line of AI Chatbots, like that of Locobuzz, is powered by Artificial Intelligence. This means that social media chatbots are no longer just tools that respond to customer queries via predefined responses. AI chatbots function as virtual assistants, recreating the experience of human interaction using social listening skills and tracking functions.

Chatbot for finance: Functions
A chatbot for the financial industry is a CX tool that performs several functions such as finding data, providing payment information, providing financial advice, etc. to help resolve user queries and increase brand reliability. Some of these functions are listed below.

Provides financial advice
Answer questions about investments and the different plans your brand has to offer.

Solves queries better than FAQ option
With a chatbot, your users can find answers to all their queries in one place, without being redirected to ten different pages. They can learn about the basic functions offered by your brand, from loan options, EMI programs, interest rate calculators to even minor queries like withdrawals and deposits.

Makes users feel heard and helps build customer loyalty
Unlike FAQ pages, an AI chatbot, designed to be integrated as a chatbot for the financial industry, gives users an enhanced experience and makes them feel heard. They know their questions will be answered even if they can't find solutions in the pre-written FAQs.

Some brands used the tools of social media management , as Locobuzz have a Chatbot integration available in several languages. It adds to the customer experience and the reputation of your brand.

Along with these major functions, there are also daily financial checks performed by clients where a Chatbot for Finance Industry can be of great help. These can be defined as follows:

Statements for daily transactions
Monthly e-statements for bank account passbook
Checking Your Credit Score
Check your account / mobile wallet balance
Find reference identification numbers for transactions made
Produce documented receipts for online payments
Location of your nearest ATMs and bank branches
EMI and interest rate surveys
Chatbot for finance: advantages
Improves brand management
Using a chatbot for the financial industry helps you improve your social media and brand management experience, minimizing your manual efforts to respond to clients and prospects every time they contact you.

Increase reliability. Builds confidence. Prevents fraud.
When customers get answers to everything they want to know about your brand, through the brand's official website and page, with access to the built-in Chatbot, it prevents them from going to other websites to search for these. information. Not only that, but it also takes your brand up a notch by allowing it to achieve a high level of reliability, thus helping your customers to prevent any kind of fraud. It helps build customer confidence in your brand.

Increase in sales growth
Social media chatbots are very important in how they increase your sales growth. Financial reliability is the key to growth in the financial industry. The more your customers trust you, the more they will refer to your brand.

Improves customer experience
A chatbot for the financial industry is a unique solution for every customer who engages with your brand. If you can help your customers feel heard, you can make those customers more permanent. An AI chatbot does just that for you.

Creates an omnichannel experience
As a brand, managing dozens of different social media platforms can get pretty hectic. When choosing a chatbot for the financial industry, you need to make sure that it has the particularity of providing an omnichannel experience to both your brand and your customers.

Locobuzz is the best social media management tool providing a chatbot for the financial industry with an omnichannel experience. You can have the same workflow as the Chatbot AI that you integrate with your social media accounts and services.

You can integrate these Chatbots in all your platforms like:

Your official brand webpage
Mobile banking app
Mobile / Internet banking website
Social media platforms like Facebook Messenger, Viber, Skype
Your brand's mobile wallet app and website
Unique solution for your brand
There are many CX tools on the market that offer Chatbot functionality for the financial industry. Choosing brands can be difficult as there is no preset on which to base or judge that choice. To make this easy, it is advisable to choose from the best social listening tools available
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