1Bank reinvents customer service for financial institutions by providing an intelligent, cognitive, conversational banker that understands the customers’ digital needs and expectations
IPsoft, the global leader in enterprise AI, today announced the general availability of 1Bank™, the first conversational banking solution. 1Bank is powered by Amelia, rated the number one virtual agent in conversational AI by Everest Group.
1Bank’s advanced intelligence is the result of 20 years of research, AI leadership and transforms the way banking customers manage their finances.
“With 1Bank we provide the most humanlike digital experience in the marketplace, built from the knowledge we’ve gained serving six of the world’s leading banks with conversational AI. We are giving banks the possibility of providing customers with their own personal banker around the clock,” said Chetan Dube, CEO at IPsoft.
Unlike other solutions, 1Bank will not only answer FAQs, but independently resolve complex customer needs, it understands customer intent and can switch context, mid-conversation. Furthermore, its advanced Machine Learning (ML) abilities enable 1Bank to improve over time, providing excellent user experiences.
1Bank reinvents a bank’s relationship with its customers by enabling immediate, user friendly, and expert service 24/7/365. IPsoft provides ongoing implementation services to ensure that your conversational banking experience meets your institution’s specific requirements.
1Bank improves the customer experience by:
- Advising on unpaid bills, proactively informing customers of an incoming bill and communicating any insufficient funds, making a money transfer and asking if the customer wants to set up payment for the bills when they are due.
- Recommending and setting up recurring payments, making payments from different accounts, opening and closing accounts.
- Helping customers locate transactions.
- Assisting with individual and potentially fraudulent charges on credit cards and disputing them, getting a new pin, getting a balance transfer or applying for a new credit card.
- Creating travel alerts after a customer made an airline purchase and proactively recommending the next step, such as, when traveling to exchange and withdrawing cash.
1Bank has out-of-the box conversational banking skills. It is trained with banking specific language and allows customers to communicate and switch via the preferred channel (web, mobile app or voice).
1Bank integrates with existing tools and interfaces. It can be added to existing applications to help customers quickly access the information and service they need. This includes mobile apps, desktop or kiosk apps, website modules, or within consumer chat applications, such as Facebook Messenger and Amazon Echo.
1Bank has pre-built features for Credit Card Processing and Account Management.
Retail banking specific language and knowledge comes pre-loaded with 1Bank. It understands the different account types, payee types, currencies and banking language, such as paperless statements or electronic transfers.
1Bank is pre-trained on banking-specific processes. 1Bank also includes information about standard operating procedures to carry out retail banking tasks. For example, it knows how to look up account information or make a transfer or which process to carry out if a customer has lost their credit card. The bank needs to do work to integrate with existing back-end systems, but the processes are already built in.
Six out of ten of the world’s leading banks are powered by IPsoft. 1Bank is currently launched in English.