Turkey’s Isbank Finds Big Success with Virtual Assistant Maxi

Banks have long been hurt by their ability to effectively communicate with their customers and the current crisis has only exacerbated that problem; virtual assistants have started to become the norm and Turkey’s Isbank has found a lot of success with Maxi; the virtual assistant first debuted in November 2018 and was recently updated to help customers navigate loans deferments and Covid related updates from the bank; Isbank uses conversational AI startup Clinc who helped to develop Maxi; 14 focus groups were formed to help provide the basis for the traits and skills customers wanted in a virtual assistant, they gathered more than 10,000 sentences and 220,000 words; “These models need lots of data that represent how people would talk to it,” said Johann Hauswald, Chief Customer Officer and Co-Founder of Clinc, to American Banker. “Crowdsourcing gives you diversity and coverage as to how people could potentially ask about a topic. The better your data and models, the higher your understanding of what customers are asking.”; more than six million customers use Maxi and they saw a 70 percent jump from February to April as the crisis took hold. American Banker

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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