Westpac puts robots on trial in digital banking platform

July 19 2016 – 3:19PM Westpac will try out artificial intelligence in its digital banking systems, a move that would allow customers to have simple questions about their finances answered by a machine instead of a person. As consumers do more of their banking digitally, especially on smartphones, the bank’s general manager of consumer digital, Travis Tyler, said it was looking at using “bots” to respond to customers with simple questions. Robo-advisers are already a growing force in financial advice. Bots may also soon be used in retail.  Photo: Rocco Fazzari It comes as banks are competing fiercely over their mobile banking offerings, with a new report from US market research firm Forrester predicting banks would increasingly use banking apps to provide money management tips to consumers. Already a growing number of wealth managers are using “robo-advice” to make recommendations on asset allocation for investors, and Mr Tyler said Westpac was investigating…

Link to Full Article: Westpac puts robots on trial in digital banking platform

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