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Tonik’s banking experience gets a boost with Gupshup’s Gen AI chatbot

By Gloria Mathias

July 02, 2024

  • APAC Fintech news
  • banking experience
  • Chatbot

Tonik, Digital Bank, Philippines, Neobank, FC Home Centre, Shop Installment Loan, Insurance, Philippines, Xendit, Indonesia Fintech, Singapore Fintech, Payments solutions, Payments Technology, Fintech Partnership, APAC Fintech News, Global Fintech news, Gen AI, Generative AI, Chatbot, Conversation Cloud, Banking experience, Philippines, Gupshup, the Conversation Cloud, has announced its partnership with Tonik Bank, the digital-only neobank in the Philippines, to develop a Generative AI chatbot for Tonik’s mobile app.

The solution aims to provide Tonik’s customers with instant and accurate answers to frequently asked questions, revolutionizing the way they interact with their bank.

The Generative AI chatbot, powered by Gupshup’s advanced natural language processing (NLP) and machine learning (ML) technologies, is designed to understand and respond to customer queries with human-like precision and empathy. By leveraging the latest advancements in AI, the chatbot can engage in contextual conversations, providing personalized and relevant information to each customer.

Tonik is the first digital bank in the Philippines to leverage Generative AI for customer service. By integrating the chatbot into its mobile app, Tonik Bank aims to provide its customers with instant access to information, reduce wait times and improve overall satisfaction.

“The integration of Gupshup’s ACE LLM into our operations has been truly transformative. We’ve witnessed significant value in its ability to automate routine tasks, elevate customer service, and boost our overall efficiency. This technology has the potential to revolutionize our operations, and we are excited to explore its capabilities further and implement it across our business,” said Sateesh Reddy, Deputy Chief Technology Officer of Tonik Bank.

The Generative AI chatbot solution is expected to generate significant cost savings for Tonik, with an estimated total of over $20 million over the next three years.

“Our partnership with Tonik Bank exemplifies the future of BFSI. As the sector evolves, Gen AI will be crucial to deliver seamless, personalized, and efficient customer experiences. Our chatbot solution is designed to do just that, empowering banks like Tonik to focus on what matters most – building strong relationships with their customers,” said Beerud Sheth, Co-founder and CEO of Gupshup.

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