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DBS will let customers bank using mobile messaging apps by the end of this year

By Kenny Yeo - on 17 Aug 2016, 4:56pm

DBS will let customers bank using mobile messaging apps by the end of this year

DBS has just announced that it is working on using artificial intelligence to allow customers to bank with them using their favorite mobile messaging apps.

Using their favorite mobile messaging apps, DBS customers will be able to use natural language to converse with DBS, and perform tasks like checking on the balance of their accounts, paying bills, tracking expenses and making payments.

For example, to find out how much they might have in their account, they could simply text DBS, "How much do I have?" It's that simple, really.

Take a look at the video below to see how it might work.

According to DBS, this service is made possible by US-based Kasisto's KAI, conversational AI platform. Kasisto is a spin-off from SRI International, who created the technology behind Apple's SIRI.

Sandeep Lai, Regional Head of eBusiness, DBS Bank, said, “At DBS, we seek to seamlessly integrate banking into customers’ everyday lives, making banking simpler and more convenient for them. We know that our customers are spending time conversing on their favorite mobile messaging app, and we are immersing ourselves in the customer journey by making it easier and more convenient for them to engage us. With the launch of this service, they no longer have to leave their favorite mobile messaging app to conduct their banking. Customers can converse with their bank as they would their contacts, and we will handle the rest with a strong focus on security – it’s that simple.”

DBS plans to roll this service out by the end of the year on Facebook Messenger. It also plans to expand service to other popular messaging apps like WhatsApp and WeChat.

Source: DBS

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