Streamline your Customer Service

AI Agents for Banking & Finance

Provide 24/7 assistance, and enhance financial transactions with efficiency, accuracy, and personalization with Conversational AI solutions for financial services.

SEE A DEMO

Banking frame Banking customer AI Pulse Icon Light

99.5%

faster response time

+37%

increased net promoter score (NPS)

68%

lower AHT

>3 min.

savings in After Call Work

Who's Enjoying the CX Dividends of AI?

Don't Start from Scratch.
Start with Cognigy.

Accelerate your time to value with ready-made Agentic AI Agents for banking including built-in industry specific templates, terms and flows.

AI Agent technology graphic_x2
Cognigy Icon-_Home

Preloaded with Industry Data

Pre-trained intents and flows speed up design and deployment. Our solution accelerator covers a range of scenarios from account type comparison, credit card applications, loan and mortgage processes and more. 

Cognigy Icon-_Document

Pretrained on Financial Terms

Prebuilt lexicons with common terms, phrases and services for banks and financial services companies. 

Cognigy Icon-_Launch

Automated Common Processes

Automate common service processes such as freezing a card, reporting travel, checking your balance, account updates, ordering a new card and more. 

×

Turnkey Solutions for Banking

Agentic AI Agents help both customers and customer service representatives.

Cognigy Icon-_Approved

KYC Identification & Verification

Cognigy Icon-_Discussion

Product Recommendations

Cognigy Icon-_Home

Address Changes

Cognigy Icon-_Labour Cost

Account Questions

Cognigy Icon-_Money

Make Payments

Cognigy Icon-_Promotion

Report Lost Card

Cognigy Icon-_Finance and Banking

Open/Close Account

Cognigy Icon-_Investment

Loan Application

Cognigy Icon-_Search

Find nearest ATM

Cognigy Icon-_Services

And more...

Instant Service

AI agents for banking provide instant, personalized service using customer data and conversation context to deliver real-time, contextual recommendations and solutions. They support any voice or digital channel and are available 24/7. 

After KAI_bank-optimized

Lower Operational Costs

Reduce operational costs by partially or fully automating repetitive tasks and processes with AI Agents while providing real-time agent assistance. 

Higher containment rates and faster, accurate agents reduce handling times and increase FCR while reducing training times and agent turnover.

Agentic AI Graphics (2)

Secure & Compliant Out of the Box

Security and compliance are not optional and Cognigy's AI Agents are designed to both protect you and your customers. 

They comply with GDPR, SOC2 Type II, ISO 27001, ISO9001, PCI DSS and more. 

Learn More in our Trust Center

cognigy-illustration-banking-and-finance

 

Trust_Logos_All_Transparent

 

Customers Cash in on Better CX with 15% Lower AHT

Humm Group

Humm Group, a financial services provider operating across the globe, faced challenges in maintaining high-quality customer experiences without overburdening their contact center team as demand for their services exploded.

To address this, they collaborated with Datacom and Cognigy to develop a Virtual Assistant that provides 24/7 customer support.

Understanding over 94% of customer intents, it handles tasks such as opening or closing accounts and explaining fees and charges.  This has dramatically improved their resolution rate, decreased handling time and improved both the customer and agent experience. 

Read More.

humm_group_chat
Brendon_new
Brendon Clark

Head of Workforce Management and Customer Improvement @Humm Group

quote

I am truly impressed with the virtual assistant powered by Cognigy.AI. It has achieved a resolution rate of over 50% and our average handling time has significantly decreased, allowing us to provide faster and more efficient support to our customers by simultaneously increasing agent satisfaction.


Loved by Customers

Hear what they have to say

5.0

Reviewer Function:

Research and Development

Company Size:

30B + USD

Industry:

Transportation

Excellent Choice for Complex Conversational AI at Scale

"The use of Cognigy AI has allowed us to build several bots, use cases and integrations at scale for different companies at once. It is in use for four different legal entities of our international corporation, with several new ones to follow. Major advantages that we saw over other vendors...

peer-insights-r-tm-rgb-for-white-bkgrnd
Read more

5.0

Reviewer Function:

Software Development

Company Size:

<50M USD

Industry:

Healthcare and Biotech Industry

Feature-rich, and Stable Platform to Build a Sophisticated and Complex Product.

"Cognigy have provided exemplary support which is key to deploying sophisticated and complex solutions. What surprised me was that the platform is feature rich, but also robust - not a common combination in this space...

peer-insights-r-tm-rgb-for-white-bkgrnd
Read more

5.0

Reviewer Function:

Product Management

Company Size:

1B - 3B USD

Industry:

Telecommunication

Best Conversational AI Platform!

"Fantastic experience! Very responsive team and delivering new innovation quickly. The NLU is the best in the market and is extremely easy to build bots/virtual agents."

peer-insights-r-tm-rgb-for-white-bkgrnd
Read more

5.0

Reviewer Function:

Data and Analytics

Company Size:

30B + USD

Industry:

Retail

The Highly Interactive and Profitable Customer Interaction System

"Cognigy.AI; is a complete enterprise conversational platform that we use daily to automate our interaction with our customers. It's AI technology offers us Chatbots and virtual assistants that interact effectively and intelligently with clients and employees and reply to them in real-time. ...

peer-insights-r-tm-rgb-for-white-bkgrnd
Read more

5.0

Reviewer Function:

Customer Service and Support

Company Size:

500M - 1B USD

Industry:

Energy and Utilities

Bring Your Conversational AI Strategy To The Next Level With Less Code

We are using Cognigy since a year and have around 20 chatbots and 3 voicebots on the platform with above 1 million conversations. The product is ease to use, offers alot of prebuild integrations and is therefore a great product for enterprise usage, especially in a multi brand environment. The support acts fast and feature requests are always welcome and treated fast."

peer-insights-r-tm-rgb-for-white-bkgrnd
Read more

5.0

Reviewer Function:

Data and Analytics

Company Size:

1B - 3B USD

Industry:

Transportation

Most Flexible Conversation AI Platform

"The platform is a breeze to use. The set-up is done very quickly and it's all low code. Which gave us a lot more possibilities to speed up the process of creating flows and integrations with our back-end systems. They're very helpful in setting up the platform and helping to design the implementation plan."

peer-insights-r-tm-rgb-for-white-bkgrnd
Read more

The GARTNER PEER INSIGHTS Logo and GARTNER PEER INSIGHTS are trademarks and service marks of Gartner, Inc. and/or its affiliates and are used herein with permission. Gartner Peer Insights content consists of the opinions of individual end-users based on their own experiences with the vendors listed on the platform, should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product, or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose. 

Frequently Asked Questions

What is Conversational AI in Banking and Finance?

Conversational AI in banking and finance refers to the use of AI-powered AI agents who handle customer interactions. These virtual agents assist with various tasks, such as answering account-related queries, processing transactions, providing financial advice, fraud detection, and more. The goal is to deliver efficient, 24/7 support while improving customer experiences and reducing operational costs for banks and financial institutions.

What is an AI Agent?

An AI Agent are human-like virtual agents based on Conversational AI and Generative AI designed to automate customer service interactions across chat and voice channels. AI Agents deliver instant, personalized support in over 100 languages and integrate seamlessly with enterprise systems. They are equipped with industry-specific skills, emotional intelligence, and the ability to understand and use a company’s service knowledge and processes. Additionally, AI Agents work alongside human agents, providing real-time assistance, knowledge lookups, next best actions, sentiment analysis, and more.

How does an AI Agent work in Banking and Finance?

In banking and finance, an AI Agent handles customer service interactions by automating support tasks such as account inquiries, loan applications, fraud detection, and transaction processing. Chatbots in banking offer instant, multilingual assistance through chat or voice, providing personalized responses based on customer data and financial processes. AI Agents integrate with banking systems, pulling real-time information to address complex queries and assisting human agents with contextual knowledge and sentiment analysis during interactions. This seamless automation improves customer experience, reduces wait times, and increases operational efficiency while ensuring compliance with industry standards and regulations.

What are examples of Conversational AI in banking and finance?

Conversational AI for customer service in banking and finance includes virtual banking assistants that help customers with routine inquiries like balance checks, fund transfers, and bill payments. AI Agents also guide customers through loan applications, do document intake, check eligibility, and provide real-time status updates. It enhances customer support by automating tasks such as password resets, credit card activation, and transaction disputes, significantly improving service efficiency.

What are the cases of conversational AI being used in banking & finance

Conversational AI in banking and finance is used for customer support, handling queries like balance checks, fund transfers, and transaction histories. It streamlines loan processing by guiding applicants through forms and providing real-time status updates. AI Agents detect and alert customers to potential fraud, offering swift action options. In addition, they help automate routine tasks such as password resets, card activations, and dispute resolutions, enhancing efficiency, reducing wait times, and improving the overall customer experience.

What is the difference between Conversational AI and Generative AI?

Conversational AI focuses on enabling machines to understand, process, and respond to human language in a natural, context-aware manner. It often uses predefined responses and rules-based models to manage interactions, typically found in chatbots or virtual assistants. Its primary goal is to automate and streamline specific tasks like customer service or inquiries. Generative AI, on the other hand, uses advanced algorithms like large language models (LLMs) to generate new content, such as text, images, or even responses, based on the input it receives. Unlike Conversational AI, it doesn't rely on predefined scripts and can create more flexible, diverse, and human-like responses. In summary, Conversational AI is task-oriented and structured, while Generative AI is more creative and open-ended, and cannot model processes or integrate with enterprise systems. That's why together, they are a powerful combination which brings the advantages of each while cancelling out their respective disadvantages.

Banking customer

Shape the future of customer service, today

The choice is yours