Chatbots' Impact on Banking and Healthcare

Chatbots-by-industry-1024x650-300x190Consumers crave digital communication solutions that are fast and convenient, a job that chatbots seem to be accomplishing. They support consumers in the most efficient way possible. Gartner reports that 25% of customer service operations will use virtual customer assistants (VCAs) — or chatbots — by next year to quickly identify and solve customers’ problems.

But how can we measure the success of chatbots when their roles and metrics differ by industry? Let’s take a look at how chatbot technology is impacting customer support in the banking and healthcare industries.

Banking Chatbots

In the banking sector, chatbots have become synonymous with enhanced customer experience. Consumers want the quickest, most convenient methods to solve a problem or complete a task, and chatbot technology is being used to meet these preferences. A Consumer Online Banking Trends 2018 study by Humley reported that two thirds of those surveyed believe that chatbots would be able to assist them, and 44% would rather communicate with a chatbot than an agent.

Read More: Bank Customers Expect Nothing Short of Digital Excellence →

Financial services organizations are leveraging chatbot technology to lower costs associated with customer support and extend the hours of service. The success of banking chatbots is often measured by how fast they can assist a customer in completing a task. Whether it’s managing money, answering common questions about online banking or starting an application for a car loan — a chatbot’s goal is to assist users with the least amount of steps.

Healthcare Chatbots

Just as in banking, chatbots serve an important role in healthcare where patient conversations and steps are likely to be longer and more detailed. Collecting specific information about the patient as well as identifying symptoms and details of their personal health history are critical and take time — an area that’s ideal for chatbots. The healthcare industry has increased its use of AI technology with chatbots to give today’s tech-savvy patients a more personalized, faster experience.

In addition to gathering patient data, healthcare organizations are using this technology to monitor chronic conditions, manage medication adherence and schedule appointments with a provider. Chatbot solutions can also provide real-time tone analysis feedback to contact center agents, enabling them to make on-the-fly adjustments to the conversation to provide better patient care through their word choice and tone of voice.

Chatbot complexity and tasks vary by industry, but the common goal is to provide consumers with service in a convenient and efficient manner. While chatbots can connect you with the right human or answer simple questions, they also recognize when it is time to elevate the conversation to a human. Chatbots do not replace live agents, bank tellers or nurses. They are implemented to support them and the consumer by directing them to the appropriate point of contact as quickly as possible. Businesses and organizations implement chatbots with the consumer in mind — to provide them with the best experience possible.

Read More: Digitalizing Employee and Customer Experiences in Banking →


 

Explore LinkLive Healthcare

The secure cloud delivery of LinkLive yields a significant reduction in operating costs that are typically associated with a traditional call center infrastructure.

It is easily integrated with existing email clients, such as Microsoft Outlook, as well as corporate directories. Such integration allows for a quick and easy transition. Additionally, LinkLive is integrated with market-leading online banking, phone and CRM systems. LinkLive works with any website or online portal to provide online presence and live chat options, making it easy to connect with customers.

We have several scenarios in Market today where we serve over 1 Billion sessions every year. Learn more about our support for both Financial and Healthcare verticals and contact a Sales Representative today to learn more.

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