Digital Humans are:

  • Constantly available for customers, accessible via the web or a physical in-store kiosk, so can live across various customer touchpoints and provide a consistent service.

  • Able to communicate not just in voice but through tone of voice and body language, making for a more complete experience than banking chatbots.

  • Scalable to the Nth degree. Virtually every customer can speak to a digital human at once.

  • Complete embodiments of the bank’s brand. Everything from their looks to voice to personality and the clothes they wear can be brand-aligned. Plus, they’ll never have a bad day, react poorly nor be late for work.

  • Non-judgemental, meaning customers may be more likely to reach out for help, particularly with questions they feel “silly” asking around their finances. For the true value of this, you only need to look up the financial illiteracy statistics in your area.

  • Cost effective – they’re a digital technology afterall, similar to chatbots, and operate with a similar cost to serve with a tiered price-per-minute bundle.

 

Potential use cases for digital humans beyond chatbots in banking

The capabilities of advanced chatbots are only getting better, and will likely provide a faster and cheaper form of customer service for banks who use them well. Though when combined with a digital human layer to drive emotional connection, the potential to finally put the human touch back into banking becomes tantalizing.

How? Well, just imagine what’s possible:

#1. Application help

If users are filling out an online application form, a digital human can guide them through the process, step by step, helping to reduce the number of customers who churn part way through their application out of confusion or irritation at a lack of help.

#2. Constant financial education

They say an investment in education pays the best interest. So when a digital human can explain financial terms to customers using natural conversation, whenever and as often as they need to, there’s a chance to improve the lives of people in a tangible way and help customers make better financial decisions.

#3. Better business banking

Small-business owners have a list of common questions, and they need help finding the answers. Now imagine if every business had a digital human “advisor” who they can ask questions of any time of day, and with whom they can meet face to face at a milisecond’s notice.

#4. Home loan concierge

Buying a house (particularly if it’s a first home) is an emotional experience, which requires an emotionally engaging form of communication. A digital human can provide so much more than a home loan chatbot. With face-to-face chat, house hunters can get help originating a mortgage, filling out applications and finding answers to their questions through their very own AI mortgage adviser. More than that, a digital human could even provide more loyalty-building, value-add help, including providing tips on moving house or switching on with energy and internet providers – all with the bank’s brand at the forefront of the experience.

#5. The Banking Customer Adviser

  • Deliver personalized wealth management advice, including portfolio or retirement planning

  • Facilitate loan origination

  • Provide branch assistance in retail banks

#6. The Banking Customer Assistant

  • Streamline loan origination and on-boarding

  • Easy completion of forms via voice

  • Triage services delivered with empathy and understanding

#7. The Banking Employee Assistant

  • Provide employees with on-demand training

  • HR assistance, hiring, including employee wellness

  • Augmented training and development programs

The advantages of digital humans in the banking industry:

  • Scalable to near-infinite customers across any device

  • Available to users 24/7

  • Cost efficiency

  • Complete brand embodiment (design your own employee)

  • Personalizable in the words he or she says to customers

  • Plus more complete communication through body language and tone of voice

  • Greater access to those who can’t, or find it difficult to, type and read

  • Emotional connection with customers