5/30/2023 0 Comments Wells fargo online banking appCredit unions are experimenting with AI too. And Bank of America saw its existing virtual assistant, Erica, become increasingly popular, tripling interactions over the last year to 104.6 million total. Bank launched a voice assistant for its mobile app last year to allow users to carry out their banking requests using conversational language. Wells Fargo is getting into a space where other banks have already seen a lot of benefits. “Our strategic investments - both in our own technology and via collaboration with digital leaders - reflect our deep commitment to providing our customers an experience that reflects their expectations for intuitive, seamless, and personalized digital experiences.” Banking AI While face-to-face interactions make sense for more consultative financial moments in our customers’ lives, the majority of their day-to-day personal finance is done digitally,” Wells Fargo head of strategy, digital, and innovation Ather Williams III said in a statement. “For many of our customers, Wells Fargo is the app. Fargo will also offer budgeting advice and pull up any historic transaction for the user. A user could ask Fargo to pay bills or send money without tapping through the account and other steps. The bank is designing Fargo to augment the mobile app with the ability to answer banking questions and carry out some tasks by request instead of the user having to navigate the mobile app directly. The Fargo assistant will arrive later in the year. The new mobile app is scheduled to launch early next year in tandem with a new website. The app will have digital money transfer and other new services to go with the virtual assistant. The virtual assistant and digital relaunch are part of Wells Fargo’s ongoing tech development strategy. The ‘Fargo’ virtual assistant will join the growing stable of bank-made conversational AIs as digital banking continues to see value in the technology. Wells Fargo is developing a new virtual assistant to go with its mobile banking app relaunch next year.
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