Peter Kirk, head of distribution and marketing services at Accenture, explores how robotics are transforming the traditional banking environment.
You have a nagging financial question. What investment fund can I choose? Can I switch to a new bank account? Can I get more flexible insurance cover? You navigate the website of your bank or insurer. You’re on their app. You might have even asked Alexa, your new virtual assistant you’ve bought from Amazon. But when the website doesn’t have the answer – and your enquiry demands a more tailored answer – who would you rather have help you? A human? Or a robot?
I’m not talking about a machine fresh out of a Hollywood film filling out a form, but consumers receiving computer-generated advice by a financial services firm, using automated virtual solutions.