Earlier during November 2018, South African FinTech startup by the name of FinChatBot announced that it had successfully raised an investment of $500,000 from South African venture capital firm Kalon Venture Partners and Mauritius-based Compass Venture Capital. FinChatBot specializes in the development of financial services chatbots specifically developed to help financial services companies acquire and retain customers through AI-powered conversations.
I decided to have a quick Q&A with Antoine Paillusseau, CEO and Co-founder of FinChatBot, to quickly understand what it is that they do.
iAfrikan: On which platforms (and why) will the chatbots be available?
Antoine Paillusseau: Web / Facebook Messenger / WhatsApp / inApp.
In the possible event that a chatbot developed by FinChatBot offers advice that causes a customer losses, legally, who will be responsible for taking responsibility for giving the advice?
We design our experiences with our clients and their compliance team. Therefore the risk is taken by our client as the bot experience complies with their contracts signed with their customers.
Walk us through the chatbots that you have already made available for customers and how they work.
We mainly focus on on-boarding of new customers. So scenario is simple, instead of calling a call center, you can connect to our bot and chat 24/7 to request a quote, process the payment and be insured in less than two minutes.
What would your advice be for other financial services companies / startups looking to develop chatbots
We are very happy to share our use cases and guidance. The best advice we can give is to do a first implementation that can be implemented quickly and prove the economic model in a very short time. From that the solution can easily be rolled out to other business units.
Cover image credit: Antoine Paillusseau, CEO and Co-founder of FinChatBot.