Financial institutions – use cases, implementation, and examples

Financial institutions are usually slow to adapt to new technologies due to security concerns, long decision-making processes, and, in many cases, a lack of knowledge and know-how. Often, by the time they adapt a new technology, it's no longer new or the implementation is so scarce that the solution remains useless. However, I chose to address the financial institution industry in this book, since I believe that conversational applications and conversational UI can be established more quickly in financial institutions (more quickly than other digital revolutions in the past), helping them and their customers to interact better. To understand this unique trend, there are three questions we need to ask: why, where, and what?

Why?

Banks are not new to voice. Phone banking and IVR systems have been an integral part of our banking experience for at least a decade. However, frustrating experiences with those very expensive solutions...