Innovations are changing the sphere of money one day at a time. Just when you thought you can’t get enough of Siri, here comes Remi. CIBC, one of the five major banks in Canada, has announced the introduction of Remi, its first digital assistant chat bot. The assistant is designed to help clients send no-fee Global Money Transfers. C
IBC’s choice of a Facebook bot rather than one that works only through its mobile banking app is a way to reach new customers and existing ones who may not always be logged into the mobile banking app.
The assistant will offer clients using Facebook Messenger, the ability to check foreign exchange rates. As Remi connects with Messenger, it utilizes the app on mobile or desktop to contact the user.
Remi has two core functions. It can guide users through the process of transferring funds across borders, and can take questions from customers on prevailing exchange rates. It’s trained to use natural-language processing capabilities to answer customer questions in a conversational way. It can be used to offer regular updates when exchange rates are going up or down on, and can be instructed to transfer money when currency rates are favorable.
Using a Facebook bot instead of embedding it within the mobile banking app helps it reach customers in a social media channel they’re already using, making the transfers an incidental activity separated from core mobile banking.
Interactions with Remi are seamless and convenient. You don’t need to log in and log out of sessions. All you have to do is just add Remi to your contact list on the Facebook messenger and from there, you can start chatting. There are now downloads needed. Customers just need to type their login details in the chat session.
The exchange rate tracking feature is also accessible to non-customers, a way to get prospective clients interested in the product.Additionally, Remi allows users to keep track of the exchange rate fluctuations by sending reoccurring alert, as well as for answering questions about products.Remi can do this whenever an exchange rate has reached the status selected by the user. Afterwards, the chat bot will immediately offer to send a sum of money.
CIBC designed Remi to elevate the client experience by making international money transfers quicker and more attainable.Remi had made it very easy and fast to send money abroad. You will know the exact amount of money that you will be sending, the upfront fees, and exchange rate. This is modern banking at its finest.
CIBC’s Global Money Transfer, originally launched in October, allows users to send money to more than 50 countries around the world with no fees.Remi will only be available in French and English at first, however new languages are set to arrive in the following months. This is certainly going to be an exciting year with the arrival of Remi and there are tons to look forward to in this revolutionary app that has made sending money convenient, fast, and chic.