ING Direct has revealed that it will be releasing chatbots on social media sites such as Twitter, Facebook and Google Assistant by the end of the year. According to the bank, its chatbots will be different from other banks’ chatbots already available because they will be able to talk to customers in everyday language. For example, customers will be able to ask the chatbots questions such as “How much money do I have in my account?” or “Am I broker yet?”, and the bots will be able to tell them their account balance or perform simple transactions such as transferring money between the customer’s accounts.
“The ability to converse with customers, that’s essentially what we call conversational banking. That’s the next tier that we see ourselves going down,” said ING Direct Chief Information Officer, Ani Paul.
According to Mr Paul, communicating with the bank’s chatbots via social media will have the same security measures in place as logging into a mobile banking app or online banking platform. RFi Group data shows that although 86% of smartphone owners use social media sites and apps at least once per week and 21% considered interacting with a chatbot for banking purposes to be appealing.