AI-based banking and loan application bot allows financial institutions to interact with loan applicants in a user-friendly manner. Banking chatbots help loan applicants explore various loan options and minimize the time delays and efforts required to apply and qualify the loan application.
Follow these 3 simple steps to create a banking chatbot for your business:
Select the name for your banking chatbot
Select the type of bot you wish to deploy
Customize, test, and publish the chatbot
Chatbots in the banking industry have several benefits. Here are a few major ones:
Lending bot offers an interactive environment to users. It provides users with the relevant information related to their queries, acting as a smart virtual assistant.
Chatbots in banking institutions offer 24/7 customer support. They work round the clock and can talk to multiple users at the same time. This saves users from waiting in a queue to be connected to a live agent.
Chatbots are less expensive than hiring an entire team required to complete a specific task. Additionally, chatbots in the finance industry pace up the process of resolving the query, either by answering them or by transferring the chat to live agents with the required user information.
Chatbots improves the customer experience by offering them interactive platform for filling the loan application. Customers can easily get the details of their preferred loans with the help of loan application chatbots.
Loan Application chatbot must have the following features:
Chatbot must be easy to use with an intuitive interface. Interactive chatbots make the platform conducive for users by giving them a personalized touch.
Businesses using chatbots can personalize the content as per their business preferences. They can also play with different colors and backgrounds to customize their bot.
Chatbots can initiate the conversation with loan seekers and solve their queries related to loan packages, criteria of qualifying for a loan, etc.
Mortgage chatbot analyzes the customer journey for qualifying his/her loan application. The information collected can help the banking institutions in the loan giving process.
Chatbot starts the conversation with the user by a customized welcome message followed by a question to know if a user is interested in taking a loan. If the user shows some interest, then chatbot gives certain options like personal loans, housing loans, etc. After the user opts for a loan, the bot asks for the user’s location and the amount he wishes to borrow. User provides details like:
Chatbot asks users to declare if the information provided is accurate or not. Loan application chatbot then forwards this information to you (the chatbot owner) and requests the user to wait for the follow up. Chatbot finishes the conversation by taking the feedback from the user.
You can integrate your banking chatbot to both, your website, and the mobile app. Appy Pie’s loan chatbot allows users to opt from a variety of packages after checking their qualifying criteria.
Conversational AI-based smart chatbots have the power to transform several processes in the banking system for both borrowers and lenders. Chatbots can transform the traditional banking system to digitally advanced systems.