Bankbazaar Singapore – February 7, 2018
Singapore: The Standard Chartered bank has decided to team up with the fintech company Moneythor to integrate artificial intelligence (AI) technology in its chatbot services in Hong Kong.
Moneythor’s digital toolkit is expected to help Standard Chartered provide its customers customised recommendations, data-based insights, and personal finance management features, among other things.
In a statement, Moneythor said that the decision was in line with the bank’s mission to digitise its services without missing the human touch in the process. Standard Chartered’s Global Head of Design and Client Experience, Deniz Güven, said that the aim was to make their services more conversational, personal, and less of transactional nature.
As fintech continues to become an integral part of the banking sector, more and more banks are seeking out solutions that can help them reach customers with personalised services and improve efficiency.
Last year, Singapore’s OCBC Bank had said that it was making use of AI to combat issues such as financial crime. The Singapore government had even announced a grant to encourage research into the use of AI in the financial sector.
Speaking on Standard Chartered’s decision, CEO of Moneythor, Olivier Berthier, said that the company is pleased to have been chosen by the bank.