Hooray, Conversational Banking is up and running – now what?

As the saying goes: after the launch is before the launch. But what needs to be done now that the first Messenger has been integrated into a company? Anyone who understands the concept of conversational banking knows that this is not simply a project that is completed with the go-live. It requires continuous further development so that both the company and the customers benefit from it in the long term.

Staying on track for maximum success

Implementing conversational banking is a bit like hiring a new employee. Here, too, you don’t suddenly stop taking care of the person after the initial training period. Normally, companies continue to support employees, conduct feedback sessions and promote their further development. The same principle applies to conversational banking: as soon as it has been introduced in any form – whether live chat, chat bot, video chat or voice bot – it is important to analyze the results. What do users say about the new touch point? Is it being used as planned? And can the goals set at the beginning be achieved? In many cases, these questions already lead to initial suggestions for improvement. These should definitely be implemented promptly and then analyzed again. Last but not least, companies benefit most from conversational banking if they continually expand it to include new use cases. Here are three possible scenarios of how this could work:

Scenario A: The live chat as a jumping off point

In this case, a live chat via Messenger was introduced as a first step. This is accessible to existing customers in e-banking. Now the company has various options on how to further develop its conversational banking:

  1. Since Messenger has worked well for existing customers and the team is now also well trained for live chat, it is now also being offered to new customers directly on the website.
  2. The employees who manage the live chat have recorded the chats and created a list of recurring questions. These questions can now be automated with a chatbot. This is how Hypothekarbank Lenzburg, for example, proceeded with ubichat. Read more about it here.
  3. The live chat works well, but employees complain about a lack of customer proximity. That’s why an additional video chat is being introduced.

Scenario B: The thematic chat bot

Here, a company has introduced its conversational banking based on a specific topic. Within this framework, a chatbot answers topic-specific queries.

  1. Based on the experience gained from this chatbot project, another chatbot is introduced for a different topic or additional topics are added to the existing chatbot.
  2. The chatbot is used actively, so the topic was chosen correctly. In the future, initial experience will be gained with voicebots. For this purpose, the same use case will also be implemented with voice control.

Scenario C: One voice bot for one case

In this example, a bank has introduced its conversational banking with a voice bot for a specific use case.

  1. The usage figures of the voice bot are very pleasing. The bank decides to automate further use cases with the voice bot.
  2. The voice bot is used frequently and it becomes apparent that this use case can be automated well. Therefore, the same use case is now also implemented with a text-based chat bot.

Of course, this is just a loose collection of ideas to serve as inspiration. There are also many other ways to further optimize your conversational banking after the launch. Ultimately, each financial institution must find the solution that best meets the needs of the company, its employees and its customers. And here too, there is no one solution – staying tuned is everything!

Sophie Hundertmark


Sophie Hundertmark is a PhD student at the Institute of Financial Services Zug IFZ and also works as an independent consultant for the strategic support and implementation of chatbot projects. She is doing her PhD on the use of chatbots in the banking and insurance sector.