Artificial Intelligence (AI) is one of the disruptive technologies that have been reshaping the banking industry, simplifying the banking operations as well as adding value to customers.
Top leading banks in the world, as well as other multinational firms, are beginning to fully embrace AI considering its enormous significances and United Bank for Africa (UBA), a leading financial institution is not lagging behind.
The lender partnered with the most prominent social media giant, Facebook to introduce “Leo,” a Virtual Banking Assistant in the form of a chatbot to enable its customers to make use of their social media accounts to carry out banking transactions.
The solution, “Leo” which is UBA’s built Artificial Intelligence (AI), integrated with the Facebook Messenger was unveiled in Lagos, preceding a step by step guide demonstration on how to use the solution.
The new solution according to UBA will allow customers to open new accounts, receive instant transaction notifications, transfers and airtime top-up, check balances, etc.
Also, users will be able to perform other transactions using the chat banking such as payments of bills, data top-up, mini-statements, loan applications; cheque confirmation, account freezing, among others.
The Group Managing Director, UBA, Kennedy Uzoka, who addressed the invitees said that it was part of UBA’s effort to aimed at putting the customer first, adding that the bank is continuously developing strategies aimed at easing transactions for its numerous users while ensuring the utmost safety of their operations.
“It comes in a language that everybody can understand, and has been designed to from a customer standpoint instead of designing it from our standpoint. That means it has not been simple and learnable. No other AI is doing that in the world, and we are proud of that.”
“The formulation of this product is consistent with the bank’s customer 1st philosophy, where we are doing things not the way we like, but exactly what the customers want, where they want it, and in the specific platform they want.
“And so, we have been working with technology giants from around the world because for UBA with so many customers; we have to deal with those who have the global capacity.
Commenting on the partnership with Facebook, “UBA, has collaborated with the biggest social media giant. All you need to do is to have an account on Facebook.”