1. The virtual banking assistant asks to select the type of loans that they are looking for, such as a personal loan, credit cards, home loan, loan against property, auto loan, business loan, or bank transfer.
2. It asks the customer to choose a credit card that they prefer.
3. It asks them to enter their city of residence.
4. It asks them if they are salaried or self-employed.
5. It asks them to enter the name of their current company, their monthly income, and the current EMI they are paying.
6. From a list of banks, it asks them to choose the bank in which they have an account.
7. It collects the name, date of birth, email address, and phone number.
8. It increases customer satisfaction because there is no need for human interaction.
9. There is less chance of fraud because the chatbot will ask all the necessary questions before approving the loan.
10. The customer service agent gets more time to focus on other tasks as the chatbot can automate everyday banking tasks.
11. It helps save money because the customer does not have to visit any branch.
12. It helps reduce call center costs by eliminating the need for a live agent.