Browse Category by Fintech
Conversational Messaging, Fintech

Role of conversational messaging in the Fintech industry

Financial technology or fintech is the program specifically designed for the financial industry to help them deliver superior customer support and service with the help of conversational messaging tools such as chatbots. Let us understand what these terms mean.

Conversational messaging is a new customer engagement paradigm that brings businesses and customers closer by enabling human-like conversations in commerce, marketing, and sales. This happens on messaging channels that customers are already comfortable with. Conversational messaging solves the problem of engaging meaningfully with customers in real-time with tools like chatbots. Chatbots are a form of artificial intelligence (AI) powered computer software programs. They assist in stimulating online chats via any platform they are embedded on, such as a website, messaging app, etc. They help customers with their queries by resolving them faster. Recent studies have shown that close to 85% of today’s consumers would like to get solutions via chatbots compared to visiting sites and scrolling for answers.

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Conversational AI, Fintech

Conversational AI is transforming the Fintech industry

The fintech industry has seen a drastic decrease in leads due to various reasons such as less employee productivity, an increase in online frauds, and obsolete cold-emailing. However, artificial intelligence (AI) has helped fintech businesses eliminate these issues at some level. But, still, something is lacking, and that’s the direct relationship between the consumers and the business with strong customer service.

With the boom of AI chatbots, this issue was majorly taken care of. However, not everybody has still understood how it could help the fintech industry.

Let’s see how AI chatbots have proved to become one of the most conventional ideas to boost the financial market.

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