TechnologyGoogle Cloud AI Supports Wells Fargo's New Virtual Assistant

Google Cloud AI Supports Wells Fargo’s New Virtual Assistant

Wells Fargo & Company Do you announce Fargo, a new virtual assistant to be launched in the coming months, will click The Google Cloud Artificial Intelligence (AI) to deliver a more personalized, intuitive and simple banking experience for customers.

The company’s collaboration with Google Cloud marks a milestone in its digital strategy to provide customers with an intuitive banking journey that fits their individual financial requirements.

Over the past two years, there has been a jump in digital banking, as well as a growing demand for a full-service digital experience.

According to a study conducted by Ipsos on behalf of Wells Fargo & Company, nearly two-thirds (65%) of Millennials and Gen Z respondents would like to use a virtual assistant for customer service needs rather than waiting for a customer service representative on a phone.

Most respondents (84%) who used virtual assistants reported a favorable experience, while 70% cited “time saving” as the best feature.

Fargo will offer customers a simple and intuitive way to service their account at launch.

Right from turning on/off debit cards, tracking credit limits, and searching for specific transactions by date, amount or type, users will be able to ask Fargo rather than searching for answers themselves.

In the event that Fargo is unable to respond to an inquiry, it will seamlessly connect customers with a direct agent.

In 2023, Fargo will be presented in Spanish. Taking a more proactive role in guiding customers toward financial wellness, Fargo will leverage predictive analytics to allow for meaningful conversations that can adapt to each individual customer’s requirements.

Users will be provided with a highly curated set of actionable tips and ideas. It will highlight the unexpected, such as a recurring subscription rise or a jump in spending at a particular merchant. It will simplify the budgeting process by calculating how much a user can spend safely, while still being able to cover their bills and meet their savings goals. It will also determine smart money moves, such as how much a customer can save through debt consolidation.

“As mobile banking becomes the preferred way for Wells Fargo customers to bank, we will continue to innovate in collaboration with strategic partners like Google Cloud to build customer experiences that motivate and support them,” said Michelle Moore, Head of Consumer, Wealth and Investments Digital Services at Wells Fargo. on their financial journeys.

This partnership will expand our customers’ digital financial support network by enabling targeted financial conversations easily from their mobile devices. It’s more than just dollars and cents; It is about elevating the emotional and financial well-being of our clients by understanding their financial goals and providing the most appropriate interactions to achieve those goals.”

Based on Dialogflow, Google Cloud’s conversational AI platform, Fargo will use the language processing capabilities of this platform to understand customer requirements and provide a customized response.

Google Cloud Vice President of Financial Services Yolande Piazza said: “This announcement marks a milestone for Google Cloud as we expand our partnership with Wells Fargo to advance the digital banking experience.

“By pairing our industry-leading artificial intelligence and natural language capabilities with Wells Fargo’s industry-leading banking expertise, we can provide customers with connected, personalized tools that blend seamlessly with their financial needs.”

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