Chat Bot in Banking Sector Using Machine Learning and Natural Language Processing

The demand for the effective customer services in banking industry has increased day by day and requirement of perfect solutions for the customer query also increased in these modern days. This research paper says about the design, development, various kind of chat bots present in now a days and how these chat bots are implemented and in which way it works according to customer queries. Chatbots are actually created to give accurate answers for banking inquires. The chat bot provides a user friendly interface for customers, they can ask information about their account balance, transaction history, fund transfer, loan application and other common banking tasks. The research methodology includes methods for how to access a normal chat bot in easy steps and various chatbots present now a days in banking industry and training of chatbot to understand and respond to diverse customer queries. The chat bot has advance machine learning algorithms and natural processing language to adapt for different queries and improve its performance in future and ensuring the perfect accuracy level of the answers. The system is combined with bank database so customers can see their bank details, ensuring real time access for their account information, secure transaction. Our research findings reveals that after coming of chat bot in banking sector the human customer services has been decreased and customer satisfaction has increased. After many testing of this model and according to user feedback the chat bot provides accurate solutions for their quires except in some situations. This research contains about growing field of artificial intelligence customer service solutions and potential benefits of implementing a banking chat bot to address common customer services ultimately leading to improved customer engagement and loyalty.