Messenger Chat Bot is revolutionizing Nigeria’s Banking System.
Messenger Chatbot over the years has grown to be the go-to platform for companies who are looking to reach out to their customer base on personal level. Media Companies, eCommerce Companies, Health Practitioners, Government Agencies, Airlines and other organizations are using Chatbot for surveys, answer simple questions, increase product sales and of course increase customer engagement.
In Nigeria, United Bank for Africa Started the revolution when they launched Leo early 2018, ever since Chatbot banking in Nigeria moved to another level entirely. From, UBA’s Leo, Diamond Bank’s Ada to FCMB’s Temi this revolution is spreading fast even the insurance industry isn’t left out – in June 2018 Custodian and Allied Plc. launched MAX, Nigeria’s first Insurance Chatbot.
Brings me to the question of what exactly a Chatbot is – In a simple term, a Chatbot is software that allows you interact, communicate and socialize i.e. send and receive messages through various messaging platforms. A study in 2017 showed that more than 4% of the companies across the world used Chatbot and more than 80% intend to use the platform by 2020.
This has grown to be a major marketing channel for startups and fully fledged companies. This is because Chatbot can be used for
- Lead Generation
- Sales Funnel
- Important Broadcast.
The Nigerian Banking System has undergone enormous growth over the past 10 years. Technology has changed the way the system operates entirely and one would tend to forget that at one time ATM wasn’t in Nigeria and at one time the banking halls were always filled beyond capacity. But slowly government policies came in to play and the emergence of the “cashless policy” sometime in 2012 ensured that most of the operations went digital, you could easily transfer funds from your mobile device using the mobile app or USSD.
Not satisfied, it became necessary for some of these banks to get more engaging with their customers; this birthed the idea of the banking Chatbot
First by Leo on Facebook;
- Allows you open an account
- Check your account balance
- Transfer money, perform other basic banking functions.
Overtime other banks caught the wave and today the Chatbot space in Nigeria’s Banking system is getting wider.
United Bank For Africa went further and also launched the WhatsApp bot months ago https://awetech.com.ng/uba-chat-banking-bot-leo-finally-launches-on-whatsapp-banking-made-easy/
Chatbot is redefining the digital banking space in Nigeria, it certainly will go beyond the banks to other industries soon; however, with its steady rise, a lot more needs to be done in terms of getting this out to people and ensuring the actual use of this amazing product.