The United Bank for Africa (UBA) is through its flagship artificial intelligence Chabot, Leo, simplifying banking process for its millions of customers across the globe while strengthening conversations on digital payment. The bank will be marking the fourth year anniversary of Leo with new offerings developed to change the face of digital banking in Nigeria. The move is expected to bring simplified banking services closer to the people.
Many bank customers have a simple expectation from their financial institutions. It is providing efficient and seamless services that meets their needs fast, convenient and secure.
Beyond the physical bank branches where quality customer service is provided, banks with eyes in the future are equally deploying technology to boost their services and exceed customers’ expectations.
From the deployment of Artificial intelligence to more investments in other banking technological tools, many financial institutions have one thing in mind. It is to provide digital services that address the needs of their customers.
Artificial intelligence is a tool that United Bank for Africa (UBA) is deploying to meet the needs of its numerous customers domestically and offshore using technology.
This is because globally, the hype around artificial intelligence keeps accelerating as it simplifies conversations and banking processes.
Through Leo, UBA’s flagship artificial intelligence Chatbot, which turns four years within the week, the Pan African bank has simplified the banking process for its millions of customers across the globe, while strengthening conversations.
So far, the LEO has proven to be the most formidable artificial intelligence Chatbot till date; serving an ever-increasing clientele who now have less transaction hassles to worry about.
For the bank, this fourth anniversary comes with an assurance of a new year filled with better and unparalleled service to its four million subscribers.
Changing the Face of Banking
Group Managing Director/Chief Executive Officer, UBA, Kennedy Uzoka, affirmed that UBA customers indeed agree that Leo is one of the bank’s biggest investments in cutting-edge technology and has been steadily changing the face of banking in the continent.
“Four years later, and with over four million customers and counting, UBA’s Leo, has without a doubt, remained the smartest Banking Chatbot in Nigeria because of its speed and quick learning intelligence and has continued to evolve with plenty to offer its teeming customers”.
“While other financial institutions are still trying to find their feet as regards Artificial Intelligence, we can proudly say that our Leo has become a massive success as it continues to consolidate on its successes and accolades winning several awards in a short while of its existence, “he added.
Uzoka continued: “In just four years, Leo’s landmark achievements have been indeed overwhelming, covering 20 African countries as well as garnering over 10 prestigious awards globally, a feat that is exceptional by every standard, I must say we are proud of Leo’s intimidating achievements which is largely unbeatable”.
“With this in mind, we have ensured that, Leo continues to enjoy periodic and systematic upgrade with special emphasis on enhanced advancements and specialised unique features where necessary”.
According to Uzoka, “UBA’s vision has always been and will remain to be a dominating force in Africa’s digital banking space.
“Our resolve is to provide unparalleled experience across all channels. We are a technology-driven institution with vast knowledge in the business that we do and Leo, being a tested, dependable and intelligent personality, did well to replicate on WhatsApp the success it recorded on the Facebook Messenger platform where it started its journey and later on the IOS (iPhone Operating System) platform. It is a solution that is from the customer’s standpoint, easy to use by anyone regardless of demography. Leo is always ready and waiting to help with any form of banking service,” Uzoka said.
Uzoka further explained that Leo is already present in 20 African countries and in three languages and has a number of rich and robust features bound to excite existing and potential customers with services that are extremely fast and secure as all transactions and enquiries are encrypted, end-to-end.
“Leo has the ability to do a wide range of things, including funds transfer, call card top-up, checking of account balance, retrieval of bank statements, instant account openings for new customers, statement to embassy/other banks/Microfinance, purchase of airtime/ data, paying of bills (LCC, PHCN, Cable TV), effectively helping with savings and spend limit.
“The AI chatbot also boosts of remarkable innovative features that allows customers make banking Services – Request/stop/confirm Cheques, Block card, Log & track complaints, ATM/Branch Locator, Freeze accounts, and check weather among others.
“Other features include Customer Care complaint resolution, linking of new account, flight Payment, linking and Funding of Prepaid Card, Travel Notification, Wakanow services and Dubai Visa service,” he explained.
Uzoka pointed out that, customers who have engaged with Leo are more than delighted about their experience and credit it for automatically extracting account details without hassles, adding that “testimonies abound about how it is generally easier to use Leo compared to its counterparts.
“For example, Leo automatically detects account numbers via a customer’s WhatsApp mobile number and goes ahead to seamlessly help customers check their account balance as well as top-up airtime”.
LEO the Virtual Banker
With the tagline “I am LEO an artificial intelligence personality bringing banking through a simple conversation”, the virtual banker has proven to be a chat buddy who is always available 24/7 and is an repository of knowledge, especially when it comes to helping with banking services.
The Chat Bot can amongst other things open an account, make transfers, buy airtime for yourself and others, check your account balance, send bank statements to embassies, freeze accounts, help with travel notifications, stop cheques, get your mini statement and make inquiries.
Summarily, the AI Chat Bot’s goal is to make banking services less boring by making transactions simple, easy and fast just by having a conversation
Anniversary Offerings
UBA said that it has concluded plans to commemorate the fourth year anniversary of its flagship artificial intelligence Chabot, with new offerings set to further change the face of digital banking in Nigeria.
“Birthed January 11, 2018, with a firm resolve to prioritise its customers as well as put the bank at the heart of disruptive technologies that will transform the experience of esteemed customers, UBA did the unthinkable by getting three million users hooked in less than three years of its inception.”
Leo, which the bank stressed, has proven to be the most formidable artificial intelligence chat bot till date; serving an ever-increasing customer base who now have less transaction hassles to worry about, is currently available on Facebook Messenger, WhatsApp, Apple Business Chat.
To further extend its reach, UBA has concluded plans to commence Leo services on Instagram and Google Business, terrains none of its peers can lay claim to.
CBN’s Financial Inclusion Policy
The UBA has also through Leo, reinforced the CBN’s financial inclusion policy and commitment to seamless banking services through technology.
CBN Governor, Godwin Emefiele, said new product development, financial education and consumer protection, leveraging of digital platforms, and the proliferation of agent networks are crucial bringing more people to the finial services net.
The apex bank believes that people from different segments of the society should have access to the financial institutions and be able to avail themselves of various financial programmes being offered by different policy initiatives of the government.
“The overall objective of financial inclusion is to bring the underserved segment of our population (unbanked population) into the formal financial system by providing them with access to financial services. Improved access to nance is an important factor in accelerating sustainable economic growth, reducing poverty and unemployment, and enhancing the stability of the financial sector,” the apex bank said.
Reviews from customers note that LEO is more personable, more humane, and it feels like talking to an experienced customer service/fulfillment representative. The Chatbot also allows customers to easily lodge and process complaints with adequate and timely feedback.
UBA offers services to more than 25 million customers, across over 1,000 business offices and customer touch points, in 20 African countries. With presence in the United States, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.
Aside LEO launch, a social media report by Alder Consulting, ranked the bank among the top three in the effective use of social media in Nigeria.
With a large customer base, the bank has invested heavily in building a robust and secure e-banking platform. It is in strategic partnerships with various local and international organisations.
Also, the bank’s customers can receive transaction alerts on their twitter handles as direct messages. It is an innovative first from the pan-African bank and the only bank in Africa to offer this service.
“What we have done is take social media banking to a new level. Twitter is increasingly becoming a popular means of communication, especially among the young adults. As a highly innovative bank, we are giving the Millennials, who are increasingly banking with us an option to get transaction alerts on their preferred platform,” the bank said.
More investments in e-banking technology
UBA has also invested heavily in technology, recently launched a new mobile app to boost its profitability.The move is also in line with the CBN’s directive to banks to provide seamless and secured banking services.
The UBA Mobile banking app was equipped with benefits and features that give customers increased control and accessibility to carry out transactions with ease.
UBA’s Group Head, Digital Banking, Kayode Ishola, said the app was tailor-made to serve customers better.
Reeling off some of the features and benefits of the app, he said a lot of investments in cutting-edge technology and attention to details was put into the new app.
Ishola said: ”The new UBA Mobile App is your personal finance manager built with a distinctive user interface that will change the face of banking. With this app, we are reimagining banking as our engagement has moved from being channel-based to being platform-based.The speed of the platform has been made to match the speed of light as we have cut down significantly on the number of processes expected to carry out your transactions.”
Growing commitment to customer satisfaction
Uzoka said the main priority for every staff member is to ensure customer satisfaction.
This, he said, is crucial for every forward-thinking organisation such as UBA, as the customer remains the employer.
In a message to mark the last Customer Service Week, Uzoka appreciated the staff members who worked towards satisfying their customers and urged them not to rest on their oars.
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