Virtual assistant Ava helps customers with service inquiries, account management, and questions regarding Commerzbank products in banking app. Available 24/7 and interaction in natural language. Commerzbank is one of the first banks to combine generative AI and avatar technology in a customer application.
All users of the Commerzbank banking app will soon be able to get assistance with their banking transactions from an avatar, according to the press release.
„By introducing the virtual assistant named Ava, the Bank is taking the next step in digitalisation and in the use of artificial intelligence (AI). Customers can interact with Ava in natural language and ask her questions. She then provides both general information and personalised advice on various banking services.” – the bank explained.
The avatar is based on AI technologies from Microsoft Azure and combines artificial intelligence with a human component, as Ava is modeled after the likeness of an actress. The assistant is available 24/7 and provides instant support without any wait.
To be able to speak with Ava, customers simply need to access the Commerzbank banking app. Currently, Ava is being gradually released to the devices of the Bank’s customers. „Very high security standards as well as the regulatory requirements related to artificial intelligence were taken into consideration during the development of the avatar.” – the ebank added.
“Commerzbank is one of the first banks to combine generative AI and avatar technology in a customer application. By introducing Ava, we are setting a new standard in digital banking,” said Thomas Schaufler, Board Member for Private and Small-Business Customers at Commerzbank. “Our goal is to provide our customers with suitable solutions that make their everyday banking transactions as quick, easy, and convenient as possible.”
In addition to answering general questions about Commerzbank products (such as account models and credit cards), Ava can also provide information about the customer’s banking products, such as the current credit card limit. Comparisons of products are also possible. Furthermore, Ava enables the digital execution of banking transactions directly within the dialogue, including ordering a new credit card, blocking or unblocking a current credit card, or changing limits. Additionally, Ava assists in the overview and management of accounts and financial products on a user-friendly interface.
For more complex inquiries, customers are referred to experts in the Bank’s customer centre. Ava’s service will be gradually expanded, incorporating customer feedback. Ava will initially speak German; a later version will also support English.
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