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PYPESTREAM CHATBOT RAISES US$7.46m
Pypestream provides a Chatbot for customer engagement so businesses can have smarter interactions with their customers. This is an enterprise solution for personalized dialogue. US$7.46m seed capital has been raised in 3 rounds with the latest being valued at US$4.88m.
ADMITHUB CHATBOT RAISES US$3.68m
AdmitHub provides a Chatbot called Oli™ that combines AI with human expertise to provide free guidance to students at colleges and universities. It raised seed capital of US$2.95m in January, 2017 bringing its total of funds raised to US$3.68m. The latest round was led by Reach Capital and Relay Ventures. AdmitHub is based in Boston, USA.
CHATBOTS IN BANKING TRENDS
BI Intelligence has published a new report which examines the impetus behind the emergent use of Chatbots in the banking sector including current use cases and some of the strategic, consumer, and technological considerations. Their key findings are:
- Incumbent banks today are facing increasing pressure to remain competitive. The pressure is coming mostly from new entrants that use digital services to attract consumers through better interactions and more attractive products.
- Incumbent banks are compounded by legacy systems but to remain competitive they need to embrace digital transformation. Chatbots are a low-cost way to innovate digitally with the added benefit of low cost multi-channel access such as through Messaging Platforms.
- Though Chatbots are still regarded as a risk, this is being outweighed by the low costs and the high benefits.
- A successful specialist Chatbot can perform a task more efficiently than can be done manually. As such, banks should develop Chatbots that effectively automate basic and time-consuming tasks. This will free up human staffers’ time for more complex inquiries, thus improving customer relations and loyalty.
From other areas of our research the outcomes include:
- Streamlined self-service
- Greater self-sufficiency
- Improved decision flows
- Reduced risk
- Consistency across all touch points
- Lower costs of coordination
- New opportunities for revenue generation
- Using recorded conversation as a new form of data for compliance, audit, measurements, pattern and predictive analytics.
LINKEDIN DEPLOYS A HELPER CHATBOT
LinkedIn’s new app includes a rudimentary Chatbot, which is designed to:
- suggest things to talk about to “break the ice” with people
- use algorithms to suggest suitable content from influencers and the LinkedIn editorial team
- smarter suggestions for people to follow
There is a growing expectation that Microsoft’s Bot Services will be upgraded to include the LinkedIn Channel sometime during 2017.
REDPLUM CHATBOT FOR CREDIT SCORES
Valassis announced it has introduced RedPlum® Chatbot to let consumers easily check their credit scores. By starting a conversation with RedPlum on Facebook® Messenger, consumers can instantly and safely access their TransUnion Vantage 3.0®credit scores any time. RedPlum brings the following benefits:
- The process does not affect a user’s credit score.
- The Chatbot never shares user information and utilizes encryption to protect consumer data.
- Streamlined process – From start to finish, it takes about 60 seconds to retrieve a credit score and consumers can view their credit score as often as they like.
- Score factors – Once a score is retrieved, consumers can view the key factors that are positively and negatively impacting their score.
- Automatic updates and alerts – Users can opt-in to receive instant message alerts via Facebook Messenger when their credit score materially changes for any reason.