AI is changing how banks communicate with customers. AI voicebot is a modern tool that is making a revolution in customer service. These smart assistants help banks speed up communication, cut costs, and maintain top-notch security. It is making it easier for customers to get things done quickly and safely. Let’s explore the most common use case of AI voicebots in banking and try to understand how modern banks are benefiting from this AI-driven technology.
Key Use Cases of AI Voicebots in Banking
Account Support and Information Requests
AI voicebots are 24/7 available to deal with thousands of customer questions every day. They can answer the following types of requests:
- Check account balances
- Check last transactions
- Send mini statements
- Track loan status
- Provide fixed deposit information
Use Case Example:
Romel lives in Dallas, Texas and wants his account balance. He can’t log in to the bank’s app. He calls the bank hotline, and the AI voicebot picks up:
Voicebot: “Good evening. Welcome to ABC Bank Smart Assist. How can I assist you
today?”
Romel: “Please tell me my balance and the last few transactions.”
Voicebot: “Kindly say or enter your account number and your date of birth.”
(After the information is verified)
Voicebot: “Your savings account balance today is USD 12,320.55. The last three
transactions are:
USD 1,200 payment at X Shopping, USD 150 payment on Y Shopping, and a salary deposit of USD
10,000.”
Romel finishes his banking in a minute, no app needed, and no waiting for a live agent.
Know Your Customer (KYC) and Customer Onboarding
Voicebots are changing how banks do KYC. They make customer onboarding faster and cut down on mistakes that can happen when people handle paperwork. Here’s how:
- Customers can use voice commands to prove their identity
- The bot can understand personal info like names and phone numbers
- It helps users upload eKYC documents right from their phone
Example
Azlan wants to open a new online savings account with Maybank. He fills out the online form and then gets an automated verification call:
Voicebot: “Hi Azlan. This is ABC’s KYC verification system. I will now guide you through the process. Please confirm your full name.”Azlan: “Azlan Jhon.”
Voicebot: “Thank you. Now, please say your ID number slowly.” (Azlan reads it out)
Voicebot: “An OTP has been sent to your mobile phone ending in 4455. Please speak the 6-digit code.”
Azlan: “902456.”
Voicebot: “Verification successful. Your account setup is now complete. You’ll receive your account number and login details via email.”
The full KYC process is finished quickly and securely—no branch visit needed.
Fraud Prevention and Suspicious Transaction Alerts
AI voicebots can help banks guard against fraud. It can help the users in the following ways:
- Alert customers about strange or risky transactions
- Confirm identities before any money moves
- Analyze voice tone to spot possible fraud
Example
While at lunch, Samantha’s phone buzzes:
Voicebot: “Hi, I’m ABC FraudGuard. A USD 2,300 charge just hit your card for an online electronics store in Germany. Did you make this purchase?”
David: “No way, I didn’t buy that!”
Voicebot: “Got it. We’ve blocked the charge and frozen your card for safety. A fraud expert will call you in under an hour. Do you want me to order a new card to your home?”
David: “Yes, please!”
Loan Services and EMI Alerts
Because of the voicebot, the fraud was stopped in less than five minutes. It saved David's money and trouble.
Loan Services and EMI Alerts
Voicebots can handle the entire loan servicing process. Below are a few ways AI voicebots are helping banks in loan services:
- Remind customers when their EMI payments are due
- Accept EMI payments through voice instructions
- Provide loan eligibility details and necessary documentation
Real Time Notification
If the client changes or cancels the appointment, the system will send a notification as an instant update of the changes.
Example:James has a personal loan. The day before his EMI is due, he gets a friendly call:
Voicebot: "Hi James, this is ABC bank. Your loan payment of USD 2,000 is due tomorrow. Do you want to make the payment now from your linked account?"
James: "Yes, go ahead."
Voicebot: "Payment confirmed. Your next EMI is due on August 20. Would you like to get monthly reminders by SMS?"
James: "Yes, please."
Voicebot: "All set. Thank you, James."
No portal logins or branch visits are needed. It’s smooth and on time.
Credit and Debit Card Services
AI Voicebots make it easy to take care of card issues. They can:
- Turn on new cards and create PINs
- Freeze lost or stolen cards
- Remind you when credit card bills are due
Example:
At 11:30 PM, Liza notices her debit card is missing. She calls the bank’s 24/7 hotline and the voicebot answers:
Voicebot: “Good evening. How can I help you?”
Liza: “I lost my debit card.”
Voicebot: “I’m sorry to hear that. Please say the last 4 digits of your card.”
Liza: “8934.”
Voicebot: “Thank you. I will block the card now. Would you like a new card sent to your mailing address?”
Liza: “Yes, please.”
Voicebot: “Your card is now blocked, and a new one will arrive in 3 working days.”
The whole problem is solved quickly, even in the middle of the night.
Filing Complaints and Tracking Them
Customers can file complaints with AI voicebots without any wait:
- The voicebot logs the problem and creates a support ticket.
- It gives the customer a tracking number.
- Customers can call back anytime to get the latest status.
Lisa tries to withdraw USD 500 from an ATM, but the cash doesn’t come out. She calls the bank.
Voicebot: “Welcome to ABC bank. What can I do for you today?”
Lisa: “I tried to take out USD 500 from the ATM, but I didn’t get the money.”
Voicebot: “I’m really sorry about that. I’ll log the complaint for you. Can you tell me the date and the ATM location?”
(She gives the details.)
Voicebot: “Your complaint is now registered with tracking ID SCB573829. You’ll get an SMS with updates within 24 hours.”The whole problem is logged in seconds. No paperwork was necessary.
Feedback Collection and Surveys
Banks can utilize AI voicebots to gather feedback from customers. AI voicebots can:
- Ask customers to rate their service
- Run quick Net Promoter Score (NPS) surveys
- Track overall customer satisfaction
Jhon recently visited her bank and took out a loan. After she came back home, the voicebot called her back and asked her about the service experience:
Voicebot: “Hi Jhon. This is a quick feedback call from ABC bank. On a scale of 1 to 5, how satisfied were you with your recent support experience?”
Jhon: “4.”
Voicebot: “Thank you. Do you have one quick suggestion for how we could improve?”
Jhon: “The wait time could be shorter.”
Voicebot: “Got it. Thank you for your feedback.”
The voicebot recorded the feedback of Jhon. The bank will use this record to improve its service quality.
Smart Advice from AI Voicebots
Modern AI voicebots are smart. They can read customer profiles and suggest things like:
- Better credit cards
- New fixed deposit plans
- Insurance coverage and wealth products
One day, Kerry gets a call from his bank.
Voicebot: “Hi Kerry. I see you’ve been saving regularly. You’re now eligible for a 12-month fixed deposit at 3.25% per annum. Would you like to set one up?”
Kerry: “Yes, that sounds good. Tell me more.”
Voicebot: “You can start with just BDT 10,000. Should I kick off the process and email you the details?”
Kerry: “Yes, please.”
Voicebot: “All set! Check your inbox for the next steps.”
By using customer data, the bank’s AI voicebot recommends the right products at just the right time.
Find My Branch & Book My Appointment
Locating the branch and ATMs is now easy with AI voicebots. With voicebots, you can:
- Locate the nearest ATM or bank branch
- Book a branch appointment
- Check available slots or change a reservation
Tomas is a customer of ABC Bank. He needs to send money overseas, but does not know which branch can help with the transfer. He calls the customer service, and the voicebot picks up the call.
Tomas: “What’s the nearest branch where I can send money abroad?”
Voicebot: “The closest branch for remittance is at Mirpur 11, Dhaka, 1.3 km away. Would you like to book a slot for tomorrow morning?”
Tomas: “Yes, at 10 AM.”
Voicebot: “Got it. Your appointment is set for 10:00 AM, Tuesday. A text confirmation is on the way.”
This voicebot feature saved the customer’s time from physically visiting the branch for simple information.
Multilingual & Local Dialect Support
AI voicebots can speak many languages and adapt to different local dialects. Voicebots help banks:
- Talk to customers in different languages
- Offer services for seniors and visually impaired customers
Example: Mr. Garcia speaks a local dialect in Spanish. When he calls the bank, the voicebot
recognizes the language and responds accordingly.
This way, banking is getting easier for everyone.
Final Thoughts
AI voicebots are not just a fancy technology anymore. They can be utilized in serious banking, answering account questions, helping detect fraud, and making human-like conversation. Because of the personalization, customers can feel the difference and value these services. Banks that are using AI voicebots are getting smarter and faster. Those first movers will enjoy an efficient call center and happier customers.
DISHA