Ficanex and Ada unveils AI chatbot for Canadian institutions

Canadian financial services provider Ficanex has partnered with specialists in automated customer experience (ACX) Ada to release a new AI-powered chatbot aimed at supporting more than 175 financial institutions across Canada.

Dubbed tunl.chatTM, the chatbot can be branded and tailored to suit a financial institutions and consumer needs; access to the chatbot is available within its website and mobile apps.

Implementation projects are said to be scheduled to start in September 2019.

“By partnering with Ada, FICANEX is able to deliver as a tool that enables conversational banking, which is rapidly becoming a critical part of the customer experience,” explained Andrew Obee, president and CEO, FICANEX. 

“Today’s consumers want instant access to information pertaining to a financial institution’s service offerings, which current channels just don’t facilitate well enough. It is increasingly important to equip consumers with a tool they can use to get fast, contextual answers to their questions, without having to turn their search for information into a weekend project. 

“These benefits extend to financial institutions, enabling them to realise decreased costs-to-serve and increased share-of-wallet by adding a self-learning chatbot to current customer communication channels.”

Nine financial institutions, including FirstOntario Credit Union and Kawartha Credit Union, BlueShore Financial and First West Credit Union, have already committed to adopt the service.

Ada was chosen by Ficanex due to its past experience of “providing an effective and continually advancing infrastructure.” 

The AI chatbot replies with answers to common questions and can be used by Ficanex member financial institutions with alternative customer service scenarios as they may require, such as making every-day banking transactions. 

The service also provides access to “extensive data analytics” for institutions to develop and improve its customer experience. 

“Our goal at Ada is to make the support experience better for the customer, the agent, and the customer experience team,” commented Mike Murchison, CEO, Ada. 

“By partnering with FICANEX, we can bring the simplicity of our solution to millions of banking customers that will benefit from access to support when and where they need it. 

“This also provides member financial institutions with the added advantage of being able to efficiently and effectively support their customers using an easily customisable platform.”