UBank, a leading Australian digital only bank, has unveiled RoboChat. It is Australia’s first virtual assistant for home loan applications.
It will help potential home buyers and refinancers complete their online home loan applications. RoboChat is built with IBM Watson, and is still in training. It will continue to lear as more customers engage with it, becoming smarter and more user friendly over time.
RoboChat will be available on the home loan section of UBank’s website and will guide customers through out application form. It will join the current live chat functionality, which is already offered at the site.
RoboChat is the latest technological advancement in UBank’s cognitive banking offering. It users IBM Watson Conversation API and uses natural language to respond to customers. It can respond to customers on 40 core home topics and hundred of associated questions.
The virtual assistant is trained on data collected from customer’s questions submitted via UBank’s LiveChate experiences. It also has its own sense of humour, offering a number of tongue-in-cheek responses.
Lee Hatton, CEO of UBank commented –
Our goal is to deliver simpler, better, smarter banking to our customers and RoboChat will help deliver on this by streamlining the application form. If you’ve gathered all of your paperwork, the form can be completed in as little time as it takes you to have your breakfast. And, securing one of the most competitive rates in the market could help a customer save thousands of dollars in interest over the life of a loan.
RoboChat will be a very welcome addition to our team of customer service experts, UBank will still have experienced staff on hand to chat on the phone, via email and our live online chat offering, RoboChat will provide an added option for those needing quick online responses or those that are close to finalising the form.