Why do I enjoy fintech chat bots so much?

If you’ve ever had to wait in a long queue in banks to transfer money, you should understand me.
Today, the Internet has allowed next-level customer support to Fintech companies and banks to use chatbots in a number of ways. As for me, I can see:
1. Fast transfer of money
Present fintech payment solutions are often null and void, so you need to get acquainted with the user interface of the service, then you need to understand how to move money via the app and wait for the funds to be transferred after verifying the transaction. This is when the chatbot will go a long way. Users can log in to fintech company ‘s app and submit and authorize the chatbot to send the money to a particular account.
The chatbot will acquire all the necessary information to move the money. So, by merely talking or messaging, users can easily move funds through fintech firms without managing the whole network.

2. Deliver trustable assistance
By many users, learn the basics of Fintech can be extremely challenging.
In comparison, new-age buyers and teenagers have unsustainable spending patterns that end up with financial difficulties in their lives.
That’s where the chatbot will come in handy and provide effective help during users’ online currencies.
Chatbots can communicate with consumers and grasp the basic mindset of delivering personalized assistance to each of them.

3. All-time cash flow access
Chatbot allows the continuous availability of fintech startups.
Chatbots made those days redundant because people had to wait for customer representatives to attend and respond.
Today, these robots will still be there to talk with the person if they appear on any of the digital assets, such as blogs, smartphone applications , social media, etc.
And current users will turn to chatbots to clear up any questions about the system.

4. Engage new gen users
This millennial generation is familiar with unique forms of contact networks. Chat and messaging applications are going to the platform to interact with people.
Technology companies can therefore ensure that new-age customers have a long-term user experience by providing their preferred mode of communication, i.e. chatting.

5. Save expenses
Businesses no longer have to maintain a stack of registers to store thousands and millions of customer details.
Thanks to the advancement of the chatbot, businesses do not have to rely on human capital to handle all the essential and monotonous activities.
Earlier businesses must allocate expenses and money to train and maintain their staff while paying salaries. Even so, due to the advent of chatbots, they no longer have to invest in human capital to handle monotonous activities.

6. Fly ahead of the game
Currently, businesses of all sizes have the opportunity to succeed internationally and to quickly drive sales.
Fintechs have the cutting edge advantage of quickly getting in contact with customers when their rivals are busy contacting people across various channels, such as social media, search, email, etc.
Chatbots allow fintech companies to ensure highly optimized and tailored user experience for end-users.
Complete use of chatbot cases would allow fintech businesses to attract customers at a maximum rate relative to their rivals.

7. Better Security
Providing security and protecting privacy are the two most critical priorities for every Fintech business to succeed in competition.
It is the company’s responsibility to ensure that it has one of the most comprehensive and reliable channels for consumers to perform sensitive financial transactions.

So, Fintech firms have chatbots programmed to ensure the utmost security. Chatbots may track the accounts and on-going transactions to find any gaps in the system.

As you can see, I really think that chat bots are really new banks in future and I’m actively using robotics opportunities for all our fintech services and products.

JCash co-founder, fintech/blockchain expert. Interested in innovations in digital payments and AI technologies.