Yes, bots are taking the routine calls from business cardholders, but make no mistake — these are demanding clients from around the world who phone in from loud airports, on bad connections and speak with heavy accents.
Credit decisions were a natural place to start with artificial intelligence, but now banks and credit unions are taking the technology to all parts of their businesses.
Sherry Comes, managing director in conversational AI at Deloitte Consulting, says banking in the future will take place through a home, car or phone speaker.
The fast-growing fintech, which says its mission is helping banks be better consumer advocates, will use its cash infusion for hiring, software development and new partnerships.
A year after it debuted, Bank of America's virtual assistant now counts some 150,000 users per week. It's one of the only large institutions pushing such technology.
