Diamond Bank has launched an Artificial Intelligence (AI) chatbot, leveraging pioneering technology to reach more customers with an enhanced service in Nigeria.
This new development, in tune with fast developing technology, will disrupt the way banking is currently being operated, experts say.
Diamond bank’s chatbot named ‘Ada’ uses AI technology to provide a human-like interaction and personalised experience for customers. As Ada learns from past interactions, the bank can offer more relevant and timely solutions that are really simple for customers to use.
Ada enables transactions such as airtime purchase, bill payments, stock trading, and money transfers all via a social network platform. Already live on Facebook Messenger, the most popular social chat program, Diamond bank says Ada will also be on other messaging platforms in the coming months.
Ada will give Diamond the opportunity to reach millions of people, and facilitate financial inclusion on an extraordinary scale, extending Diamond’s reach into Nigeria’s massive retail opportunity. Diamonds existing customers can already start chatting to Ada.
Ada is also an ideal solution to Nigeria’s evolving lifestyle trends which have moved towards preferences for mobile and digitally delivered services, as well as the use of natural language. According to the bank, Ada delivers a consistently great experience every time you talk with her. The move is also aligned with the economy’s culture of innovation and entrepreneurship, and she was built using local talent.
Commenting on the launch of Ada, Uzoma Dozie, CEO of Diamond Bank said: “I believe data and technology has the power to transform Nigeria’s economy, so I am excited to announce the launch of Diamond’s Artificial Intelligence (AI) powered Chatbot named Ada.”
“Ada will allow us to further digitalise the mobile banking process and create an increasingly customised mobile banking experience for our millions of customers, Ada also presents another opportunity to deepen financial literacy and build trust and transparency in our ecosystem.
“I am passionate about how Diamond can leverage technology to tap into Nigeria’s huge market, whereby a large segment of the population is under-banked or unbanked. Data-led technology can plug this gap, and expand financial inclusion on a rapid scale,” Dozie said.
Diamond already has a foundation of over 15 million customers, and its AI-driven Chatbot Ada will enable the bank to expand its digital-led strategy, and reach even more people across Nigeria through mobile banking.
Key Diamond Bank initiatives include supporting Nigeria’s future business leaders through its Building Entrepreneurs Today (BET) program and upcoming Tech Fest in April, improving financial inclusion by focusing on increasing female participation in the formal economy and the roll out of its Diamond Y’ello mobile banking service, which now has over 9 million users.
Jumoke Akiyode-Lawanson
