Citi unveils Facebook messenger tie-up for Hong Kong clients

Tuesday 26 June 2018 13:18 CET | News

US based banking group Citi has announced the launch its smart chatbot in Hong Kong by the end of 2018, using Facebook Messenger.

Customers will be able to check their bank account balance and recent transactions via Facebook Messenger. Several other local banks have already launched their own app-based chatbots for customer enquiries this year, such as HSBC’s Amy and Hang Seng Bank’s virtual assistants HARO and DORI, in an attempt to reduce the need for live call centres and branch visits from customers.

The smart chatbot was developed as part of the bank’s push into developing digital services for customers in the face of competition from virtual banks and fintech startups. According to Citigroup representatives, the bank has spent more than USD 8 billion on technology last year, which amounts to around 20% of the bank’s operating expenses.

Chatbots are machines that use AI-based technologies such as natural language processing to answer queries from customers. They could potentially help save global banks more than USD 8 billion per year by 2022, according to a report by Juniper Research.

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Keywords: Citi, Facebook Messenger, Hong Kong, banking group, smart chatbot, bank account balance
Countries: World

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