You Trust Your Banker, But Do You Trust Your Bank?

Original article was published on Artificial Intelligence on Medium

You Trust Your Banker, But Do You Trust Your Bank?

Most of the professional interactions which people have on a daily basis are not always totally professional if we come to think of it. Whether it’s the supermarket cashier, the receptionist at your office building, the waiter at the restaurant you regularly visit, or for that matter the cashier at your bank may be in possession of sensitive information that you may have inadvertently let out during conversations.

You often share little tidbits about your personal life, like your marital status, favorite food, or by mistake even a deep-seated insecurity that you may spill out at a weak moment. In fact, these professionals are aware of sensitive information like transactions. And it is in most cases remembered by the professionals you are dealing with. And these pieces of information act as building blocks for the subsequent interaction between the parties involved inside or outside the professional setting. This makes the interaction more comfortable for the customer. And thus in customer services, such facts about the lives of the customers, if remembered, can play a major role in the quality of service.

This is the reason why many customers feel comfortable in the presence of a staff member he is accustomed to. And it is for this reason that memory becomes an important element in customer services. And for this reason, researchers developing the latest chatbots for customer services are trying to incorporate better long term memory into the systems, to store the information they receive about the customer.

Can Chatbots Give You the Same Familiarity?

If the chatbots can remember details about the customers, it will lead to better and faster service, as the services will be personalized according to your needs, very much like a mobile application. But the problem with most online chatbots meant for customer services is that they are based on some centralized server of the organization, they are administered by. Moreover, such a service would require a certain degree of profiling of the customers for it to be recurrently and effectively used- and the concern becomes greater.

While a customer will be comfortable to share some personal and sensitive details with a customer executive at the counter in a bank, she might not be as comfortable to share the details with the bank in general. There are various concerns about safety and privacy which is not the case in personal interaction with a human.

But if the chatbot could be designed in a certain way that the data will be more privately stored and there will be more of an intermediary between the organization and the customer, as it is in a real situation, the customers can be more comfortable about sharing their data.

OLPORTAL’s Way to Personalized Customer Service

A blockchain-based, decentralized chatbot on a platform like OLPORTAL will be able to remember the information of the users in a personalized way, with utmost security from a breach. The distributed ledger technology will not only keep the data hidden but will also make it free from manipulation. The chatbots on the OLPORTAL platform, although pre-trained, can also be trained according to the needs of the user, making them more customizable. All these features will give the users a more personalized feel without being vulnerable to an imminent threat of a breach of privacy.

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