Elevating Productivity: Why the Banking Industry is Adopting the GirikSMS Salesforce Chatbot

Businesses across industries are leveraging emerging technologies such as Artificial Intelligence and machine learning to power sales, marketing, customer service, HR, and operations. In fact, banking is one of the top industries to embrace Chatbots in recent years to streamline operations and enhance the customer experience.

Banking chatbots are AI-powered virtual assistants that can understand customer requests, resolve their queries, and execute transactions. Chatbots are software programs that have in-built machine learning algorithms and can process natural language prompts to automate the relationship between a customer and a bank.

GirikSMS Salesforce Chatbot developed by Girikon Inc, a Salesforce Development Partner, help banking institutions streamline operations, scale customer service, reduce costs, and improve customer satisfaction.

In this article, we will explain what GirikSMS can do for banks and their customers and how bot-driven automation can benefit banking institutions in several ways.

• Chatbots are cost-efficient. Bots allow you to scale operations quickly without the associated costs of additional manpower.
• The era of mobile banking. Customers today prefer digital first and the need for on-demand mobile banking is increasing across all age groups. GirikSMS Salesforce Chatbots are available 24/7 and can be easily integrated into mobile banking apps to offer immediate resolution of customer queries.
• Customers prefer text. Most smartphone users are well versed with popular messaging apps such as WhatsApp, Slack, and SMS, using these channels for daily interaction with friends, family, and even businesses. Text conversations over these apps are now the preferred choice for most users. GirikSMS ChatGpt Empowered Salesforce Chatbot uses the power of conversational AI to interact with customers over these popular messaging apps and channels ushering in a new era of digital services.

Here’s a look at some of the use cases where GirikSMS APP can help banking institutions automate their day-to-day operations to enhance the customer experience.

1. Onboarding new customers

New customers can rely on GirikSMSChatbot for onboarding activities such as:

• Uploading all required documents and validating them.
• Sending agreements for review and sending reminders to complete the documentation.
• Setting up a new account and providing a guided tour of available products and services
• Downloading and exploring the banking app on users’ mobile phones.

GirikSMS ChatGPT Empowered Chatbot can also be used to collect feedback from new customers about the onboarding process for detailed analysis and ongoing improvement.

2. Provide 24/7 customer service

GirikSMS Chatbot can be extremely useful in customer service operations. They can resolve routine customer queries quickly and enable banks to scale 24/7 support to customers. They can answer commonly asked questions and provide accurate answers to customer queries quickly without any wait times. Not just that, customers can also modify account information such as an address, all within the chat conversation.

3. Transactions

GirikSMS Salesforce Chatbots can help customers perform banking transactions such as fund transfers or opening a deposit account. GirikSMS is native to Salesforce. So, if a user types the name of a beneficiary to do a fund transfer, the bot can look up the receiver’s account in the CRM and execute the transaction.

Some of the other transactions that GirikSMS Salesforce SMS App can help customers with are:

• Report a missing/damaged card.
• Report an unauthorized transaction.
• Change account passwords.
• Modify account limits or apply for higher limits.
• Apply for account upgrades like more privileges.
• Apply for a loan.

4. Providing financial advice

GirikSMS  Chatbot can be virtual financial assistants. Based on the customers’ income and spending habits they can recommend saving plans, tax tips, and recommend best-fit banking products.

5. Cross-selling

Banks offer a range of products and services such as insurance, loans, mortgages, wealth management, etc. GirikSMS Salesforce Chatbots leverage CRM data and analyze past customer interactions across multiple channels to make intelligent recommendations about new products that may be relevant to them.

6. Preventing fraud

GirikSMS Salesforce Chatbots record all interactions with users in the CRM and can use natural language understanding capabilities to detect suspicious behavior to alert agents to take prompt and appropriate action. Data from chatbot conversations can be used to identify patterns and train the chatbot.

7. Onboarding new recruits

GirikSMS Salesforce Chatbots can be used to assist new employees by:

• Answering their queries about the company’s policies.
• Providing access via interactive menus to onboarding material such as documents, presentations, charts, photos, or videos.
• Setting up IT accounts and assisting them with system walkthroughs and privileges.

GirikSMS Salesforce Chatbots can also train employees on several aspects of customer communication and engagement.

8. Assisting in internal operations

GirikSMS Salesforce Chatbots can also act as virtual assistants for banking personnel by providing them with quick answers when dealing with customers. They can answer questions related to

• Policies and regulations.
• Products and services offered.
• Intelligent forecasts on customers based on their account status.

GirikSMS Chatbots for Salesforce can also help streamline internal operations by sharing documents across team members and facilitating reporting and evaluation processes.

9. Omnichannel availability

Customers today prefer digital first. And they engage with brands on multiple channels such as websites, mobile apps, social media, and messenger apps. GirikSMS Chatbot for Salesforce can be easily integrated across all popular channels ensuring that you are available to them 24/7 regardless of where they are.

While the above use cases can be a game-changer for banks, it is also important to follow certain best practices to make the most of this disruptive technology offering. Here is our list of 5 best practices for implementing Chatbots.

1. Understand the limitations and challenges of Chatbots

Work with your Salesforce partner to have a thorough assessment of the capabilities and limitations of AI Chatbots to set the right expectations.

2. Protect user data

Banking institutions must secure and protect the data and information gathered by Chatbots.  Giving confidence to customers that their data is secure with you builds trust and loyalty.

3. Secure transactions

Chatbots, especially customer support ones open up opportunities for hackers and fraudsters. You must ensure that all transactions and interactions over bot conversations are encrypted and secure.

4. Create specialized chatbots

Banking offers many use cases for deploying Chatbots such as lead generation, sales, and customer service. Start with a simple use case and deploy chatbots in phases.

5. Test extensively

An erroneous chatbot can lead to frustrated customers. Test and train your chatbot extensively before going live.

As Salesforce expands its boundaries to integrate the disruptive technology of conversational AI and adds more functionality into its platform, you need the support of a Gold Salesforce Consulting Partner like Girikon to unlock its true power. Connect with one of our experts today to learn more about how you can harness the power of GirikSMS Chatbots for Salesforce.

About Author

Indranil Chakraborty

Indranil is a technology enthusiast with over 25 years of experience in project management, operations, technology and business development. Indranil has led project teams in egovernance, business process re-engineering, product development and worked with Government and Corporate customers. Indranil truly believes in the power of technology to drive productivity and growth for teams and businesses.