SINGAPORE (May 19): Local AI developer Pand.ai today announced that it has developed a chatbot for CIMB Bank, Singapore Branch. The chatbot called EVA is also known as the ‘Enhanced Virtual Assistant’.
The chatbot is designed to help business owners with their queries on Covid-19 financial schemes offered by the bank. CIMB is the first bank in Singapore to have developed a chatbot specifically for business owners seeking financial relief. It is also the bank’s first chatbot.
This AI chatbot is powered by Natural Language Processing and Named Entity Recognition, hence is able to understand subtler semantics of a human being. It can also accurately pick up the topic the user is asking for.
The chatbot also learns from its own dialogues, which means the more customers converses to it, the smarter it becomes, resulting in better and quicker responses to customers’ queries. The chatbot is also able to respond to general queries on the Supplementary Budget and will direct business owners to the official websites for more information that is relevant to them.
Once EVA has identified the customer’s issue, it will advise customers on which CIMB financial scheme they are eligible for. The customer can then apply for the scheme via EVA without any administrative hassle.
Business owners are also able to use EVA to calculate their monthly instalment and interest according to the loan amount a user is intending to borrow with the chatbot’s repayment calculator.
