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.