ATB Financial has partnered with FinTech Finn.ai to launch a virtual banking assistant that utilizes Facebook Messenger.
“At ATB, we’re innovating at the forefront of robotics, AI, biometrics and blockchain, and we’re so excited to bring conversational commerce to all our personal banking customers,” said ATB chief transformation officer Wellington Holbrook of the Messenger-based virtual assistant. “It’s one more way we’re delivering on our commitment to really make banking work for people. It lets you do your banking whenever, wherever and however [it] works best for you.”
The company’s nearly 700,000 personal banking customers will now have access to secure, day-to-day personal banking by simply initiating a conversation in Facebook Messenger. They can seamlessly pay bills, view account balances, send Interac e-Transfers or transfer money between accounts, as well as perform cross-currency money movement. The platform also offers access to spending insights, Mastercard statement alerts and a live customer care representative.
“AI is completely reinventing the consumer banking experience,” said Jake Tyler, co-founder and CEO at Finn.ai. “With the Finn.ai platform, you get more than immediate, secure banking access – you get smart, personalized financial insights to help you achieve your specific financial goals. We’re excited to join forces with ATB and bring this innovative technology to another segment of our fast-growing customer base.”
ATB points out that the virtual assistant is always learning, and the more customers engage with it, the more it will be able to do. Accuracy and capabilities will also build and improve over time through consumer feedback, customer care agent feedback and reinforcement learning.
The virtual assistant uses the same level of security and fraud prevention methods as the company’s other online and mobile platforms. Customers can only send money to payees or recipients they’ve set up themselves in ATB online banking or ATB’s mobile app, and accessing banking capabilities through the virtual assistant requires two-step verification.
“We will be tracking the value the virtual assistant provides so that we can potentially replicate this model through additional delivery channels, such as smart televisions, devices and other social networks,” said Holbrook.