An Exploratory Study on the Effect of Artificial Intelligence-Enabled Technology on Customer Experiences in the Banking Sector

El-Gohary, Hatem and Thayaseelan, Aksaya and Babatunde, Simeon Abiola and El-Gohary, Salma (2021) An Exploratory Study on the Effect of Artificial Intelligence-Enabled Technology on Customer Experiences in the Banking Sector. Journal of Technological Advancements, 1 (1). pp. 1-17. ISSN 2767-3804

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Abstract

This study investigates how artificial intelligent technology in the banking sector has affected consumers’ overall experience. It focuses on how consumers’ personal digital transformation has affected digital banking development and how this further affects consumer’s expectations and experience. It assesses how banks use Artificial Intelligent Virtual Agents such as Chatbots to transform how consumers use their banking facilities. Lastly, this study investigates the scope of neobanks in the banking sector. The study found that digital transformations have led to an increase in consumers’ expectations from their banks. Whilst banks revolutionise their customer service offerings through virtual agents, customers are not engaging with these at an expected rate. Findings revealed that Neobanks are not operating at their expected traction due to consumer knowledge gaps, occasioned by a lack of advertised information to customers from their banks.

Item Type: Article
Additional Information: ** From Crossref journal articles via Jisc Publications Router
Identification Number: https://doi.org/10.4018/jta.20210101.oa1
Date: 1 January 2021
Uncontrolled Keywords: Artificial Intelligence (AI), Chatbots, Customer Experience (CX), Customer Relationship Management (CRM), FinTech, Neobanks, Virtual Agent (VA)
Subjects: G700 Artificial Intelligence
Divisions: Faculty of Computing, Engineering and the Built Environment > School of Computing and Digital Technology
SWORD Depositor: JISC PubRouter
Depositing User: JISC PubRouter
Date Deposited: 26 May 2021 12:04
Last Modified: 26 May 2021 12:04
URI: http://www.open-access.bcu.ac.uk/id/eprint/11669

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