AI chatbot powers digital banking

AI chatbot powers digital banking | Daily Tribune

EastWest Bank on Monday launched a groundbreaking artificial intelligence chatbot, ESTA (EastWest System Tech Assistant), available on Facebook Messenger.

For the past few years, this innovative tool has been redefining the digital banking experience for EastWest credit cardholders and employees, marking a significant milestone in the bank’s commitment to technological advancement and customer service excellence.

Designed to cater to its users modern-day banking needs, ESTA leverages the widespread use of Facebook Messenger to provide a platform where credit cardholders can effortlessly perform a variety of credit card services. From balance transfers and installment conversions to accessing Insta-Cash, ESTA offers a seamless and secure banking experience right at its users’ fingertips. In addition, it consistently generates P1 billion in installment bookings monthly.

Recently, ChatGPT was incorporated into EastWest’s Customer Service functionality, resulting in a 75 percent reduction in Customer Service warm body interactions. In the near future, retrieving account information and performing transactions can be done by screen or button presses and via textual commands. Imagine having a digital assistant that can carry out commands like – “Compute my average spend on XYZ e-commerce for the last six months” or “Send P10,000 to my husband’s EastWest bank account.”

This AI-powered convenience is a testament to EastWest’s dedication to providing quick and easy solutions to meet the busy lifestyles of its customers.

ESTA leveling up

Further extending the ESTA experience, EastWest is proud to announce an upgraded version of ESTA for its employees. This new iteration integrates flawlessly with ChatGPT on Microsoft Teams, allowing staff to access knowledge bases, including the internet, internal manuals, store policies, MORB + Select BSP Circulars, the Corporate Credit Policy, and credit card product features more efficiently.

This internal tool accelerates information retrieval, analysis, and synthesis-based textual and numerical work output, fostering a more innovative, empowered, and productive workplace environment. It is similar to having a virtual assistant capable of conducting financial ratio analysis or crafting advertising copy for an ad campaign.

“ESTA represents a first-in-market innovation, offering unparalleled accessibility and convenience in digital banking. It exemplifies EastWest’s commitment to leveraging technology to enhance the banking experience for customers and employees,” said Efren dela Cruz Jr., head of Consumer Service Delivery at EastWest.

“Through constant improvements, upgrades and updates, EastWest aims to further ESTA’s contribution to the bank’s extensive digital capabilities, showcasing the bank’s ongoing thrust for innovation and customer service excellence,” Dela Cruz added.

Power to the customers

EastWest reiterated its commitment to customers, highlighted by ESTA’s consumer-friendly features that make banking even more convenient.

“ESTA represents more than just an advancement in digital banking technology; it embodies EastWest’s vision for a future where banking is not only accessible but also seamlessly integrated into our customers’ daily lives. Our dedication drives our commitment to innovation to provide exceptional service and convenience. With ESTA, we’re not just keeping pace with the digital age — we’re defining it,” Dela Cruz added.