How Intelligent Virtual Agents (IVAs) Optimize Banking Experiences

Mosaicx uses conversational AI to personalize customer experiences for financial institutions

The Future of Mobile Banking

Mobile banking is the new normal. 71% of Americans use online banking services at least once every month. Today, most financial institutions have banking apps that allow customers to check account balances, transfer money, and manage finances in one convenient location – with the added benefit of not having to leave their house. Having the bank at your fingertips allows for a flexible and personalized banking experience anytime.

  • 71%
  • of Americans use online banking services at least once every month.
    Source: Forrester

Technology that utilizes artificial intelligence (AI) and machine learning (ML) make self-service banking efficient and easy. Intelligent virtual agents (IVAs) are one such technology that can facilitate a streamlined banking experience. According to Forrester, about 30% of American financial institution customers have checked their account balances through the help of an IVA. But 30% leaves the banking industry with much room for improvement.

This whitepaper will delve into the need for AI-powered IVAs in helping banks drive personalization.

 
 

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