The 10 best finance AI chatbots (key features + examples)

What are finance AI chatbots?

A finance AI chatbot is a software tool designed for the financial industry that automates tasks and assists customers 24/7. 

Unlike old school Q&A bots that followed a script, AI chatbots use natural language processing to engage users in human-like conversation. Once trained on your business data, these virtual assistants are able to provide accurate and relevant responses to any number of users simultaneously.

Conversational AI is popular in finance for a reason. It improves the customer experience with immediate access to account information, expense tracking, and personalized financial advice — all while streamlining operations and reducing support costs by up to 30%.

More than a cost-effective solution to digital account management, a finance AI chatbot is an easy way to scale high-quality customer interactions. This helps to modernize the banking experience in ways that build relationships and loyalty.

Finance AI chatbot use cases

Many leading banks and financial organizations have launched their own finance AI chatbot. Here are the most common ways to use finance AI chatbots, with real-life examples from top brands.

1. Instant 24/7 customer support

AI chatbots can provide customers with responsive, high-quality support around the clock, regardless of time zone or business hours. 

Research shows that AI chatbots can handle 80% of customer support queries, helping to reduce the workload for human agents, improve response times, and enhance customer satisfaction. And if the user has a complex query, the chatbot can make a seamless handoff to a human agent.

For example, Eno from Capital One is available 24/7 on the company's website, mobile app, and support channels to answer FAQs, show recent transactions, and more. 

2. Fraud detection 

Using their machine learning capabilities, AI chatbots can identify suspicious account activity and alert customers in real-time.

By monitoring transactions and flagging signs of fraudulent or irregular activity, AI chatbots serve as a proactive first line of defense against fraud and security issues.

Bank of America’s AI chatbot, Erica, sends proactive alerts to customers when unusual transactions appear in accounts.

Whether it's an increase in a recurring charge or a large transaction from an unknown vendor, finance AI chatbots make it easy for customers to take swift action to secure their accounts.

3. Personalized financial advice 

AI chatbots can identify patterns and trends in personal spending habits using sophisticated algorithms, and present these insights to customers as personalized financial advice. 

This personal financial analysis can extend to budgeting and investment tips, or tailored financial products such as savings plans, credit cards, or investment opportunities.

Sendbird’s AI chatbot for banking, for instance, can be trained on your proprietary business data to provide targeted offers based on real-time customer profile analysis. This helps to increase conversions as well as upselling and cross-selling in a way that's GDPR and SOC2 complaint.

4. Loan or credit card applications

Applying for a loan or a credit card be an overwhelming or confusing process for new customers. AI chatbots simplify these processes to increase conversions, guiding customers through steps, providing resources at the right time, and even offering pre-qualification checks or recommendations.

AI chatbots integrate seamlessly with existing systems, tools, and can be trained to have access to propriety business documents. This means they can handle eligibility checks, document uploads, and status tracking—then automatically integrate this data into your systems for processing.

5. Account management and updates

AI chatbots are a cost-effective solution to online account management. They can provide real-time account updates such as balances notifications and recent transactions, as well triggering bill payment reminders. Or, if customers are stuck on a page or screen, they can appear to help customers manage various aspects of their accounts, such as password resets or managing settings.

Considering that 61% of banking customers engage weekly with their bank on digital channels, automating many of these routine interactions can significantly reduce support costs and streamline operations.

The 10 best finance AI chatbots

We evaluated the capabilities of the most popular AI chatbots for finance on the market today. Here's the shortlist:

1. Sendbird

Sendbird is an AI agent omnichannel platform with highly secure, compliant, and customizable AI chatbots for finance. It's a powerful tool that allows you to build and customize an AI chatbot in minutes without coding.

With its sophisticated conversational AI, the finance AI chatbot from Sendbird excels in providing precise answers and tailored experiences, from queries about account management to customer support to personalized financial advice.

A standout feature of Sendbird is the image-based identity verification, which adds an extra layer of security to accounts for added peace of mind while reducing friction.

Built with robust award-winning APIs, Sendbird is a scalable solution that integrates seamlessly with popular CRMs, tools, databases, as well as websites, mobile apps, even support channels.

With its enterprise-grade security, scalability, as well as SOC2 and GDPR compliance, Sendbird is the ideal choice for banks and finance companies seeking a high-performance AI chatbot solution for any scale.

Key features:

• Omnichannel support: Seamlessly integrate with CRMs, support systems like Salesforce, payment gateways, websites, and communication channels like WhatsApp, SMS, in-app messages, and push notifications.

• Enterprise-grade security: Ensures the highest standards of data protection with end-to-end encryption, secure data storage, and compliance with SOC 2, ISO 27001, and GDPR.

• Third-party data: Sendbird's APIs securely pull third-party data into the chatbot, instantly providing customers with up-to-date financial data on currency exchange rates, stock market updates, or credit scoring.

• Advanced AI: Choose from the latest large language models including ChatGPT, Claude, and Llama.

• Multilingual support: Engage customers in 80+ languages.

• Bot analytics: Monitor user engagement and optimize chatbot performance with robust bot analytics.

• Easy training: Training and re-training your chatbot to provide accurate, relevant responses can be costly. This is why Sendbird offers Retrieval Augmented Generation (RAG), allowing a business to quickly update its bots knowledge base.

Pros:

• Customization: Use the no-code visual chatbot builder to tailor the chatbot’s appearance and personality to match your brand.

• Security: Adheres to stringent security and compliance standards, including GDPR and SOC 2.

• Scalability: Robust unified APIs allow a business to handle high volumes of interactions without compromising performance.

Cons:

• Implementation assistance: For all its advanced feature, scalability, and trusted security, Sendbird does require development resources to implement.

Pricing:

Offers 14-day free trial. Paid plans start at $99 per month.

2. TARS

TARS offers a simplified AI-powered solution for finance and banking institutions designed to streamline customer interactions. It’s an ideal platform for financial institutions looking for a plug-and-play solution that’s easy to implement.

Key features:

• Financial concierge AI: Automates customer support, account management, and interactions across multiple channels.

• Financial advisor AI: Guides customers through personalized buying journeys for banking and brokerage services.

• Omnichannel support: Enables engagement across WhatsApp, SMS, mobile apps, and web platforms.

• Advanced analytics: Provides customer behavior insights and comprehensive reporting.

• Seamless integration: Integrates with existing banking systems, credit card software, and CRMs.

• 1,000+ templates: Over 1,000 pre-built templates, including more than 300 for banking and financial applications.

Pros:

• Straightforward configuration: A simplified configuration is easy to use and implement.

• 24/7 availability: Provides round-the-clock automated customer support.

• Free trial: Users can test the platform before making a decision.

Cons:

• Lack of customization: May require more setup and configuration compared to simpler chatbot solutions.

• Limited scalability: Some users have reported performance issues during spikes in usage.

Pricing:

Offers 14-day free trial. Paid pricing available upon request.

3. Tidio

Tidio is a customer service platform that combines live chat functionality with advanced AI-powered automation. With flexible pricing and an intuitive interface, Tidio is a robust option for businesses of various sizes looking to automate customer support and enhance sales with a finance AI chatbot.

Key features:

• Lyro AI chatbot: Advanced AI-powered chatbot that can answer complex questions and automate up to 70% of customer inquiries.

• Multi-channel integration: Combines live chat, email, Messenger, and Instagram into a single dashboard.

• Live visitors list: Allows proactive engagement with website visitors in real-time.

• Customizable widget: Offers a modern, customizable chat widget that works for different types of websites.

• Analytics dashboard: Provides comprehensive insights into chatbot performance, live chat operations, and customer behavior.

Pros:

• Comprehensive solution: Offers a wide range of features including live chat, AI chatbot, and ticketing system.

• Easy to use: Intuitive interface with a visual chatbot builder that requires no coding skills.

• Scalability: Works for businesses of various sizes, from small to large enterprises.

• Integration capabilities: Integrates with over 120 platforms and third-party services.

• Affordable plans: Tidio offers a basic, free plan, as well as a free trial for all paid plans.

Cons:

• Pricing structure: Some advanced features may require higher-tier plans or add-ons.

• Learning curve: Mastering all features may take time for some users.

Pricing:

Offers 7-day free trial. Free plan with basic functionality. Paid plans start at $59 per month. Plus: $749 per month. Premium: $2999 per month.

4. Haptik

Haptik is a conversational AI platform designed specifically for enterprise-level fintech companies and financial institutions. It's finance AI chatbot excels in handling complex customer queries through its advanced NLP engine and supports a wide range of financial use cases, with a focus on enhancing customer engagement, improving financial literacy, and driving sales through AI-powered conversations. Haptik is ideal for banks looking for a scalable solution to manage high volumes of interactions. The setup may require technical expertise and a significant investment.

Key features:

• GPT-powered chatbots: Engages customers in free-flowing, human-like conversations.

• Social media support: Connects with customers across apps like Instagram, WhatsApp, and Facebook.

• Pre-built conversation workflows: Offers 100+ pre-built workflows for the fintech industry.

• Multilingual support: Supports over 130 languages.

• Two-way notifications: Sends timely notifications for education, advice, and account updates.

Pros:

• Comprehensive solution for fintech: Covers lead generation, customer engagement, and support.

• AI-driven personalization: Recommends financial products based on customer behavior and preferences

• Scalability: Designed to handle high volumes of interactions, automating up to 80% of frequently asked queries

Cons:

• Complex setup: May require technical expertise and more time investment for implementation

• Higher cost: Pricing may be on the higher side for small institutions

Pricing:

Paid plans start at $5,000 per year.

5. Ultimate.ai

Ultimate.ai specializes in automating customer service interactions using advanced AI technology, particularly with their UltimateGPT solution. The platform enables financial institutions to create chatbots that handle a wide range of customer inquiries.

Key features:

• UltimateGPT: Allows for rapid automation of customer service tasks.

• No-code dialogue builder: Enables creation of complex use cases without coding expertise.

• Professional services: Supports bot optimization, custom integrations, and strategic expansion.

Pros:

• Quick implementation: Allows businesses to start automating in minutes.

• User-friendly interface: Easy setup and management of chatbots through the intuitive Dialogue Builder.

• Comprehensive support: Provides customer success and professional services teams for ongoing assistance.

Cons:

• Pricing transparency: Custom pricing may make it harder for smaller institutions to assess affordability.

• Limited advanced AI features: May lack some of the sophisticated AI capabilities found in more specialized platforms.

Pricing:

Contact for custom pricing.

6. Kasisto

Kasisto’s finance AI solution is KAI, a conversational AI platform specifically designed for the banking industry. Their latest offering, KAI-GPT, combines traditional AI with generative AI to provide intelligent, context-aware interactions for financial institutions. Its specialization in banking is noteworthy for those looking for a finance AI chatbot.

Key features:

• Banking-specific AI: KAI was designed with unmatched financial literacy and trained to specifically serve the banking industry.

• Generative AI integration: KAI-GPT is described as “the financial industry’s first large language model purpose-built for banking.”

• Omnichannel support: Provides experiences across all channels, including digital platforms.

Pros:

• Financial expertise: Deep understanding of banking operations and customer needs, with the ability to answer detailed questions and execute actions

• Personalization: Delivers hyper-personalized responses and recommendations to consumers

• Employee empowerment: Provides staff with instant access to robust financial intelligence

Cons:

• Implementation complexity: May require significant time and resources to deploy effectively.

• Higher cost: Premium features come at a higher price point.

Pricing:

Contact for custom pricing.

7. Kore.ai

Kore.ai offers the XO Platform, a robust conversational AI solution designed to automate and optimize customer and employee experiences across various channels. Its BankAssist product is a specialized AI-powered solution for the banking industry, providing a range of features to improve customer service and account management, including advanced NLP capabilities and integration options.

Key features:

• Account management: Provides critical account insights and quick access to account information.

• Funds transfer: Facilitates seamless money transfers, including person-to-person (P2P), external, and internal transactions.

• Customer management: Assists with simple profile updates and management of account preferences.

• New account enrollment: Personalized sign-ups for new accounts.

• ATM/branch locator: Helps customers find nearby branches and ATMs.

• Balance inquiry: Provides account balance and credit availability information.

• Transaction management: Offers intuitive transaction analysis and spending insights.

Pros:

• Banking-specific solution: Tailored for the unique needs of financial institutions.

• Comprehensive functionality: Covers a wide range of banking operations and customer needs.

• User-friendly: Focuses on conversational and intuitive interactions for better customer experience.

Cons:

• Complex implementation: May require significant time and resources for deployment.

• Pricing structure: Usage-based pricing might be complex for some organizations to manage.

Pricing:

Pricing is based on a per-session pricing model. Paid plans start at $50 per month for 1,000 sessions. Advanced: $150 per month. Enterprise: Custom pricing. All pricing is paid annually.

8. Posh.ai

Posh AI provides advanced conversational and generative AI solutions, again specifically designed for the banking sector. The platform strives to optimize customer service operations, improve customer experiences, and drive business growth while reducing costs for financial institutions. Their solution is designed to automate up to 65% of customer inquiries with its finance AI chatbot.

Key features:

• AI-powered virtual assistants: Provide 24/7 customer service through voice and digital channels.

• Knowledge assistant: Offers immediate answers for employees during live interactions.

• Intelligent routing: Directs calls efficiently to appropriate agents with essential background information.

• Website search solution: Transforms bank websites into fully functional help centers.

Pros:

• Industry expertise: Tailored specifically for banking and financial services.

• Scalability: Handles up to 250,000 conversations per month.

• Customization: Allows easy customization of content, flows, and personas.

• Security: Holds CSA Star Levels 1 and 2 certifications and SOC 2 type 2 certification.

Cons:

• Smaller company: May not have as much industry experience as other more established companies.

• Lack of pricing transparency: It’s difficult to determine the required investment without engaging directly with sales.

Pricing:

Contact for custom pricing.

9. Growthbotics

Growthbotics is a company that provides AI solutions for various industries, including finance and banking. They specialize in developing custom finance AI chatbots and other AI-driven technologies to improve business operations and customer engagement. It is a smaller company and may not be as established as other providers.

Key features:

• Custom AI solutions: Offers tailored AI chatbots and other AI technologies for specific business needs.

• Image recognition: Provides AI-powered image recognition capabilities, used for tasks like KYC/AML compliance.

• HIPAA compliant: Offers solutions that meet healthcare data privacy standards.

Pros:

• Customization: Offers solutions designed for specific financial services.

• User engagement: Enhances customer experience through personalized interactions.

• Integration: Easily integrates with existing financial systems.

Cons:

• Limited market presence: Less established compared to other providers.

• Feature depth: May lack some advanced functionalities found in competitors.

Pricing:

Per-hour pricing at a rate of $35 per hour.

10. Collect.chat

Collect.chat is a platform for creating interactive chatbots designed to collect data and enhance customer engagement. It does not offer advanced AI capabilities, and thus has limited functionality. While this AI chatbot can be used by various industries, it is not specifically designed for financial institutions.

Key features:

• Automated meeting scheduling: Facilitates the arrangement of appointments without manual intervention.

• Customizable templates: Provides a variety of templates customized for different data collection needs.

• Multilingual support: Accommodates a global audience by supporting multiple languages.

• Drag-and-drop builder: A simple tool to add questions and customize chatbots without coding.

• Multi-platform deployment: Install via HTML code, WordPress plugin, or chatbot page links.

• Instant notifications: Receive alerts via email, dashboard, and integrations.

Pros:

• Ease of use: User-friendly design allows for quick deployment and management.

• Integration capabilities: Works seamlessly with tools like Salesforce, Mailchimp, Slack, and Zendesk.

• Increased conversions: Users report significant growth in subscriptions and conversions.

• Cost-effective: Offers affordable plans suitable for small to medium-sized financial institutions.

Cons:

• Lack of AI capabilities: Does not incorporate advanced AI features for complex interactions.

• Limited functionality: Primarily focused on data collection, which may not meet all customer service needs.

Pricing:

Offers free plan with basic features. Paid plans start at $24 per month.

3 benefits of a finance AI chatbot

A finance AI chatbot is a powerful form of automation that can help financial providers, fintech companies, and banks to advance their digital transformation while staying competitive. Here are the key benefits of a finance AI chatbot:

1. Enhanced customer experience

By delivering consistently high-quality interactions, AI chatbots help financial institutions to meet the ever-increasing expectations of modern customers.

Available 24/7, chatbots provide responsive support on demand, satisfying the 90% of consumers that say a business should reply to their queries in five minutes or less. 

Meanwhile, for the 76% of people who would rather use self-serve resources before contacting a support representative, the chatbot serves as a catch-all for the majority of customer service and account-related queries. 

This improves the overall speed and quality of customer support while freeing up human agents to focus on more complex tasks. All this goes to reduce response times while improve customer satisfaction scores and the overall digital customer experience.

2. Reduced costs

By automating many routine interactions and reducing reliance on human agents, AI chatbots are a cost-savings tool for financial institutions. In fact, using a finance AI chatbot has been shown to reduce customer service costs by up to 30%. With the right chatbot provider, it's possible for a business to scale chatbots across its website, mobile app, and support channels to maximize cost savings.

3. Increased operational efficiency

AI chatbots automate repetitive tasks and streamline workflows across teams and functions. Financial institutions using AI-driven automation have seen up to a 40% improvement in operational efficiency, demonstrating how effective these tools are for streamlining day-to-day functions. This efficiency encompasses:

• Faster resolution times: Chatbots can instantly pull account details, check transaction histories, and process customer requests, drastically reducing resolution times for improved customer service scores and productivity.

• Scalability: As customer volumes surge during peak times or crises, AI chatbots can handle thousands of simultaneous interactions without delays — ensuring no customer is left waiting.

• Streamlined operations: AI chatbots can automate backend tasks like document verification, fraud detection, and data entry, freeing up human staff to focus on more complex tasks.

Launching a finance AI chatbot with confidence

Choosing an AI chatbot with the right features, security, and compliance is important—but launching a custom AI chatbot for finance is surprisingly easy. With Sendbird, for instance, it takes just five minutes to set up and customize a finance AI chatbot, and without any coding. 

If you want to learn more, you might read our full guide on how to build an AI chatbot.

And if you're ready to get started, simply start your AI chatbot free trial. You'll have 14 days to build, customize, and test out your chatbot to see if it meets your specific needs.