Welcome to the forefront of conversational AI as we explore the fascinating world of AI chatbots in our dedicated blog series. Discover the latest advancements, applications, and strategies that propel the evolution of chatbot technology. From enhancing customer interactions to streamlining business processes, these articles delve into the innovative ways artificial intelligence is shaping the landscape of automated conversational agents. Whether you’re a business owner, developer, or simply intrigued by the future of interactive technology, join us on this journey to unravel the transformative power and endless possibilities of AI chatbots.
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Krystian Bergman
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Lost in financial jargon, customers hesitate, disengage, or walk away. What if AI could turn confusion into clarity—boosting trust, engagement, and conversions?
Picture this: A customer sits at their kitchen table, scrolling through a 40-page agreement for a financial product. Words like “amortization schedule” and “variable APR” leap off the page, leaving them confused and overwhelmed. Unsure of what they’re signing, they either proceed hesitantly—eroding trust in your bank—or abandon the process entirely, taking their business elsewhere.
Financial jargon, while necessary for compliance, often creates barriers for customers who just want clear, actionable information. Confusion leads to disengagement, mistrust, and ultimately lost opportunities—for both your customers and your institution.
AI can help bridge this gap. With tools like chatbots, customers can ask questions while reviewing agreements and get instant, simple answers in real time. Whether it’s breaking down loan terms or explaining fees, these tools make complicated concepts easier to grasp.
By making financial language more accessible, banks can improve trust, empower customers to make informed decisions, and build stronger relationships.
Research from PwC showsthat 91% of customers are more likely to buy from a company they trust. But trust doesn’t happen by chance—it’s built through clear, open communication. When customers feel informed and confident in their decisions, they’re more likely to engage with your services, stay loyal, and explore additional products.
The problem is that financial language often works against this trust. According to the Global Benchmark Report 2024 by Smart Communications, 67% of customers are likely to abandon an interaction with their bank or financial services company if the way they collect information is too difficult. Additionally, less than half (47%) of financial services customers rate the communications they receive as very good or excellent, while 9% consider them poor or not good at all.
As financial services move further away from in-person interactions, prioritizing high-quality, clear, and accessible customer communication becomes essential. By breaking down barriers with simpler language and intuitive processes, banks can fundamentally change how they connect with customers.
Traditional support channels, such as call centers, often fall short of meeting customer needs, with long wait times and inconsistent responses leading to frustration. AI-powered assistants provide an effective solution by streamlining communication and enhancing transparency.
AI assistants simplify finance in several ways:
5. Seamless Document Handling: AI doesn’t require specialized infrastructure to work with existing documents. It can extract information directly from PDFs, such as agreements or policy documents, and link back to them as a source of data.
6. Integration with Banking Systems: AI assistants can connect seamlessly to internal databases, allowing them to provide real-time updates on fees, policies, or promotions. This ensures customers always receive the most current and relevant information.
To demonstrate how AI assistants can make complex financial language accessible, let’s look at some “before and after” comparisons. These examples highlight how rephrasing technical terms can transform confusion into clarity:
These comparisons make it clear how AI can rephrase technical language into straightforward explanations. By doing this, AI tools help banks improve communication and reduce the friction that often comes with financial decision-making.
AI-powered chatbots are transforming how banks communicate complex financial information, making it more accessible and understandable for customers. Here are some notable examples:
HSBC’s MOBA virtual assistant is designed to help customers navigate banking services, but its approach is more structured than conversational. Instead of open-ended responses, MOBA operates through a series of pre-set options. Customers start by selecting a broad category like “Products” or “Accounts,” which then leads to more specific choices such as “Mortgage Information” or “Managing My Account.”
Rather than directly explaining financial products or terms, MOBA primarily acts as a navigation tool. It guides users to relevant webpages, phone numbers, or app features where they can find more information or take the next steps—such as booking a mortgage appointment or uploading documents. This structured approach ensures accuracy and compliance but limits the chatbot to directing users to external resources rather than engaging in real conversations.

Santander’s Sandi chatbot helps customers find relevant banking information by offering a selection of predefined query categories, such as “I need help logging in” or “Help getting started.” Rather than directly explaining financial products, Sandi analyzes the customer’s query and redirects them to the appropriate webpage on Santander’s site.
For example, if a customer asks about getting a mortgage loan, Sandi provides a link to the Santander New Mortgage Customers page, where they can find details on mortgage types, eligibility criteria, terms and conditions, and ways to contact a representative for further clarification.
If Sandi is unable to resolve a query, it escalates the conversation to a human customer assistant within the same chat interface, ensuring that customers receive the necessary support when AI alone isn’t sufficient

ING Wholesale Banking offers Bill, a chatbot designed specifically for corporate clients, available within the InsideBusiness Portal. Bill assists users by answering common banking inquiries and processing requests with natural language processing (NLP) to better understand customer queries. If a question goes beyond Bill’s capabilities, the chatbot transfers the conversation to a human representative.
In addition to Bill, ING has developed regional AI assistants for retail banking customers in select markets. These include Inge (Netherlands), Marie (Belgium), and Lionel (Australia), each designed to interact with customers via channels like Facebook Messenger or ING’s website. These chatbots focus on answering routine banking questions, such as locating ATMs or troubleshooting card issues.
Outside these regions, ING does not offer chatbot services, instead directing customers to its “Contact and Support” webpage for assistance.
BNP Paribas’NOA (NextGen Online Assistant) is an AI-powered chatbot available 24/6 on NeoLink, the bank’s main portal for Securities Services clients. Designed for institutional clients in the UK, US, Jersey, Ireland, Colombia, and Brazil, NOA is not available for retail banking customers.
Unlike many chatbots that rely on clickable options, NOA engages in natural, text-based conversations using machine learning and natural language processing (NLP) to understand customer queries in clear, everyday language. This makes interactions feel more human-like and intuitive.
Retail banking customers do not have access to an AI assistant and must use BNP Paribas’ Contact & Support webpage for assistance.
Effectively implementing AI to improve financial literacy requires a structured approach, from planning to deployment. Here are the essential steps:
By following these steps, financial institutions can deploy AI-powered assistants that simplify complex banking concepts, enhance transparency, and empower customers with financial literacy.
AI has the potential to transform financial literacy, but banks must first overcome several roadblocks. One of the biggest is outdated infrastructure. Many financial institutions rely on legacy systems that weren’t designed for real-time data processing or AI-driven interactions. Banks can address this by using middleware and APIs to connect AI tools with existing platforms, ensuring seamless data flow and accurate customer responses.
Security and compliance add another layer of complexity. With strict regulations like GDPR and CCPA, financial institutions must ensure AI doesn’t expose sensitive customer data or generate misleading information. The key is building AI systems with strong safeguards, performing regular audits, and keeping compliance at the core of development.
Beyond technology, people are a critical factor in AI adoption. Employees may see AI as a threat to their roles, while customers may be wary of trusting automated responses. Shifting these perceptions requires clear communication. For staff, proper training can demonstrate how AI handles routine tasks, freeing them to focus on deeper customer relationships. For customers, positioning AI as a support tool—not a replacement for human expertise—can reinforce trust and encourage engagement.
Rolling out AI too quickly can also backfire. A phased approach, starting with a pilot program, allows banks to test its impact, refine responses, and demonstrate its value before a full-scale launch.
The European Accessibility Act (EAA), set to take effect in 2025, calls on businesses, including banks, to make their services accessible to all customers, including those with disabilities. AI-powered chatbots can play an important role in helping banks meet these requirements while improving customer engagement and trust.
By adopting accessible AI chatbots, banks not only comply with the EAA but also demonstrate a commitment to serving all customers equally. These tools create a more inclusive experience while opening doors to untapped market segments.

Clear communication is the foundation of trust in banking, yet financial jargon and outdated methods have long made financial services feel inaccessible. When customers struggle to understand complex terms, they disengage—creating missed opportunities for both banks and their clients. AI-powered tools offer a way to change this dynamic.
With chatbots and virtual assistants, banks can simplify financial concepts, provide real-time support, and deliver personalized guidance. By making financial products easier to understand, AI helps customers make informed decisions, strengthening trust and long-term loyalty.
Of course, adopting AI comes with challenges, from integrating with legacy systems to ensuring compliance. But with a thoughtful approach—starting with pilot programs, refining based on feedback, and implementing strong security measures—these obstacles can be overcome. The result is a scalable, effective solution that enhances both customer experience and operational efficiency.
Investing in AI isn’t just about simplifying finance—it’s about creating stronger, more meaningful connections with customers. By making financial services clearer and more accessible, banks can drive engagement, build loyalty, and set a new standard for customer-centric innovation.
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Krystian Bergman
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