The Future of Digital BankingB A N K I N G O N B O T S

Chatbots have been used in banking for years but have so far only been capable

of rudimentary tasks. Today, after major advancements in artificial intelligence,

chatbots are poised to revolutionize the banking industry.

What is aChatbot?

A chatbot is an artificial intelligence (AI) software

program that converses with users through voice and

text platforms. Through Machine Learning, Deep

Learning, and Natural Language Processing, chatbots

use Contextual Awareness to thoughtfully answer

questions and make recommendations.

Artificial Intelligence

The ability for a machine to learn from previous data to make decisions in new

situations.

A type of machine learning in which an artificial brain with digital neurons and

synapses learns the same way a biological brain does: through experience.

Machine Learning

Deep Learning

The ability for a machine to effectively understand and respond

to human language.

Natural LanguageProcessing

The ability for a machine to understand the context of a request or situation to provide a

more accurate response.

Context Awareness

While chatbots have existed in some form since the 1950s, recent

advancements in AI research are making chatbots more accurate and

useful than ever before.

HowChatbotsWork

KeywordMatcher

Parser

Interlocutor

SentenceConstructor

StockPhrases

Knowledge Sources

ConversationMemory

Chatbot

Interactive voicerecognition (IVR)

SMS Banking

Mobile Banking

Investment Robo-advisors

Conversational Banking

Past

Present

Future

Bots in Banking

The MessagingApp Landscape

300M3.5BKikSMS

Consumer BankingPreferences

1.2BFacebook Messenger

1.2B 1.7MWhatsApp Slack

Messaging platfroms are building incredible audiences of highly engaged users.

The surging popularity of peer-to-peer messaging platforms is fueling the rise of chatbots.

The Rise ofMessaging

100,000

The total number of monthly active users onFacebook Messenger.

The total number of chatbots integrated withFacebook Messenger.

The top four messaging apps have higher retention and usage rates than the top four social networks.*

Of millennials don’t think their bank offers anything different than other banks

Of millennials would be more excited about a new financial services offering from Google, Amazon, Apple, PayPal, or Square than from their own bank

According to a recent survey, over three quarters of financial institution respondents view chatbots as a viable commercial

solution now or within the next 1-2 years.

53%

Millennials would be open to switching banks in the next 90 days.***

1 in 3

Benefits ofBanking Bots

Account aggregation from multiple institutions

Automation of back office operations

Better customer data & analytics

Increase brand & customer engagement

Personalized digital banking

Banks are allin on bots.

* http://www.businessinsider.com/the-messaging-app-report-2015-11**http://fortune.com/2016/07/20/facebook-messenger-one-billion-users/

***http://www.millennialdisruptionindex.com/

Visit Abe.ai to learn more about the future of banking chatbots.

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Leading institutions from around the world are roll-ing out chatbots to their customers.