Now more than ever, a digital strategy is an essential cornerstone for any business, especially those operating in the finance and banking spheres. As the world becomes increasingly connected, a financial institution that only operates for a certain number of hours a day will find itself becoming obsolete. Retail and institutional customers now demand 24/7 connectivity not only on the financial platforms they use, but also the support that is rendered.

Many financial institutions are now turning to automated chatbots to serve their customers. Earlier renditions of these chatbots were limited in their functionality, and could only answer simple questions. However, a few technology companies recognised the untapped potential of using machine learning and AI to make these chatbots smarter. One of them is Call Levels. The company created CLAIRE, an AI recommendation engine that’s more than just a conversational chatbot.

Call Levels understands the importance of privacy and security for something as important as finance, so the data is stored locally in the institution’s servers. In effect, for each of its clients, Call Levels builds a personalised CLAIRE system from the ground up to ensure on-premise security.

CLAIRE is also able to integrate with public social media mediums to help the financial institution converse, engage and interact with their customers.