Tech Time: Chatbots in the credit union

Artificial intelligence-based conversational technology can provide quick, low-pressure service without being sterile and ineffective

One of the key takeaways for new board volunteers at credit unions is the emphasis on the human touch. Credit unions like to promote the superior quality of their member interactions versus those of commercial banks. While commercial banks usually have a Net Promoter Score in the negative or low positive number range (-20 to +30), credit unions have often had Net Promoter Scores in the high 60s with some achieving scores in the 90s. So why would a credit union use something as impersonal as a chatbot to communicate with members? It’s all in the use case.

Recently, I was applying for a new position on a company’s HR site, and instead of presenting a form to fill out, I was greeted by a chat bubble: “Hi, I understand you want to apply for the position of X, is that right?”

I was quite skeptical at first. How was this going to work? “Yes, I do,” I replied. And the conversation proceeded to go something like this:


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