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POSB’s AI chatbot will now answer your queries on Facebook Messenger

By Koh Wanzi - on 20 Jan 2017, 11:16am

POSB’s AI chatbot will now answer your queries on Facebook Messenger

Image Source: POSB

The push to use artificially intelligent chatbots to serve customers continues. POSB has announced the POSB digibank Virtual Assistant, an AI chatbot that aims to make day-to-day banking simpler and more intuitive for customers. It is the first bank in Singapore to take advantage of AI to allow customers to bank conversationally, and the bot can already be accessed on POSB’s Facebook page.

The bank first announced its plans to enable customers to converse naturally with a chatbot last August. It worked with Kasisto, a US-based spinoff from SRI International, the firm that birthed Siri, to create its virtual assistant.

The assistant leverages KAI, Kasisto’s conversational AI platform, to answer customer queries round-the-clock. For now, you’ll be able to enquire about POSB’s products and services, and response was prompt when we tried it out briefly.

Image Source: POSB

POSB says the bot has been able to answer all enquiries made since it launched on 13 January without needing to route requests back to a real human, with the majority of questions concerning POSB branch locations and foreign exchange rates.

Moving forward, POSB plans to roll out the ability to conduct banking transactions like balance enquiries, fund transfers, and card payments using its virtual assistant by the second quarter of 2017. The bank also intends to launch chatbots in other key markets, and extend it to other mobile messaging apps like WhatsApp and WeChat in the future.

DBS and POSB currently serve over 3.9 million online and mobile banking customers in Singapore, so the chatbot may help with cutting down on queues and waiting times.

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