BRUSSELS, 23 October 2017 – Spanish bank CaixaBank, a member of ESBG, received the Best Artificial Intelligence Project award from The Banker, an international financial affairs magazine of The Financial Times Group. The award was given for CaixaBank's developed messaging software which was recognised as a great example incorporating innovative artificial intelligence in banking services.
The chatbot was launched for imaginBank, the mobile only bank of CaixaBank that targets millennials. Customers can send messages through the chatbot to consult more than 200 offers and discounts that are part of bank's discount programme for shopping and leisure activities.
Innovation has been an important part of bank's strategy
The messaging software is the first ever artificial intelligence solution in the Spanish financial sector and according to bank representatives, such innovations are part of their digital strategy of the 2015-2018 Strategic Plan. “The transformation that we are carrying out affects our internal processes, to make them more efficient and digital; the way in which we communicate with our customers, through more suitable and convenient channels; and the content of the services that we offer", says Gonzalo Gortázar, the CEO of CaixaBank.
Industry changes foster technological advancements
The number of similar innovation initiatives in banking industry has been increasing in recent years. Savings and retail banks worldwide are embracing the transformation that is fuelled by new technology, changed customer behaviour and a new financial ecosystem. They seek to find solutions to use the latest technology for concrete real-life applications that serve the client throughout his or her customer journey. Artificial intelligence, as one example of the latest technological revolution, can have a huge impact in this regard.
Innovation means a partnership between human contact and technological means – it is not only about following IT or the industry, but about taking into consideration the best solution to provide the most convenient and secure service for clients by bridging the physical / digital gap.
>>Read more about CaixaBank's strategy in innovation and its latest chatbot and AI
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