ICTACT Journal on Management Studies

Meganathan Kumar Satheesh ¹, Nagaraj Samala ¹, Raul Villamarin Rodriguez ¹

Affiliations
1 School of Business, Woxsen University, IN

Abstract

Customers are less satisfied with the prompt services provided by the banks. They also feel that guidance to use the bank’s products and services is not adequately explained. When they ask for information or report any issues, the process is not easy. On the other hand, handling millions of customers with limited bank employees is a tedious process. The bank employees are also exhausted to answer to the same repetitive questions for a long time. The customers are comfortable with the answers, and the bank employees are also tired of the same routine of giving the same answers to different customers. This unpleasant situation will weaken the relationship between the banks and the customers. This paper will discuss how AI-induced chatbots improve customer interaction and how chatbots play an essential role in customer relationship management in the banking industry. The AI-induced chatbot certainly enhances the customer relationship with the banks.

Keywords

Artificial Intelligence, Banking, Chatbot, Customer Experience, Customer Relationship Management.

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