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Mobile-only banking startup bets on bots

Stephanie Overby | April 6, 2016
Companies are implementing artificial intelligence technology for customer service. Here’s a look at how Atom Bank is incorporating WDS Virtual Agent software from Xeros into its mobile app to solve customer issues.

The benefit of the virtual agent software is that the machine learning technology will continue to evolve in reaction to the changing environment, Bromley says.

The WDS solution offers the customer multiple potential solutions to every question. These are ranked by the probability of it fixing the issue or inquiry, based on how these answers resolved similar customer queries in the past. Each time a response is confirmed or not, the analytics are updated, improving the accuracy of responses over time.

But the system has its limitations. “I don’t think you should ever assume that the machine is always right,” says Bromley. “Further, it would be wrong to assume that the customer wants to use it. The customer will be able to use self-support, but can equally use assisted channels, such as chat, secure messaging, voice, and video. However, we also use the same machine learning behind the scenes for the assisted channels, so that all learning is applied.”


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