Mubasher: The lifestyle digital bank by Emirates NBD, Liv., has partnered with the US-based Kasisto, creators of the KAI Banking artificial intelligence (AI) platform for finance, to introduce Liv.’s conversational AI-based chatbot ‘Olivia’.
By launching Olivia, the customers of Emirates NBD’s Liv. can get all their account information and insights on their spending as if the users are texting a friend, according to a recent press release.
The new AI-powered Olivia has a deep understanding of Liv.’s banking and lifestyle offerings, as it can help customers get quick answers on local transfers or even block their cards; in addition to texting back account balance or how many Livions have been earned.
“Olivia can also answer queries on how much customers have spent last month on groceries or in restaurants, helping them plan and manage their finances better. Furthermore, Olivia can seamlessly hand over the conversation to the Liv. team if customers prefer to chat with a customer service agent,” the press release added.
It is noteworthy that chatbots are AI-enabled computer programmes that are designed to simulate human communication to answer customer queries in real time.
“Olivia was ‘trained’ by Liv. customers in a voluntary mentorship programme prior to her launch. Over 3,000 mentors interacted with the chatbot using natural or conversational English, offering Liv.’s customers a chance to co-create a more intuitive and personalised customer experience,” according to the press release.
Head of Liv. Jayash Patel commented on launching this AI-backed tool: “Our partnership with Kasisto helped us leverage KAI’s agile platform with built-in banking expertise and complemented by customer feedback, to humanise and train Olivia in line with our goal of serving as a financial buddy to customers.”
During the mentorship programme, Olivia has offered instant assistance to more than 80,000 customer queries.
“We plan to continue to invest in evolving Olivia’s functionalities to become more engaging and intuitive,” Patel added.