What is a finance chatbot?

A finance chatbot is a chatbot for financial services such as banking or insurance that can automate some of the customer service tasks via coded commands.

AI for Financial Services

Cut service costs, automate routine operations, and stay compliant with AI

Tovie AI helps banks and insurers improve customer experience and automate up to 80% of routine operations: from claims to policy renewals

Dive deeper

Why banks and insurers choose Tovie AI

Financial services face rising operational costs, complex compliance requirements, and growing customer expectations. We address these challenges head-on:

Lower service costs by automating routine claims and inquiries

Improve customer experience with faster, 24/7 support

Reduce compliance risk with secure, auditable AI workflows

Free up staff time for high-value tasks and innovation

Proven AI solutions for financial services

Claims management

Automate routine claim handling, cut processing time by 50%, reduce back-office load

See how to cut claim time

Debt collection

Automate 1M+ daily interactions, reduce costs by 50%, achieve 56% repayment after one conversation

Automate collections

Enterprise voice AI

Handle 90% of inquiries automatically, increase conversions by 35%

Transform customer service

Enterprise search

Find compliance-critical info instantly across SharePoint, Google Drive, internal docs

Find answers fast

Employee support

Cut HR/IT helpdesk workload by 50% with always-on AI agents

Customer onboarding & support

Accelerate onboarding by 50%, improve first-contact resolution

Policy renewals

Streamline renewals across channels, generate 20% more revenue with personalised offers

Case Study

How BNP Paribas Cardif scaled with AI

Challenge: Agents spent most of their day answering repetitive questions while working 14 hours daily. Customers filing claims after a loss needed urgent attention.

Solution: Tovie AI deployed a claims reporting bot to handle routine processes.

Results:

83% first-contact resolution
$9M operational cost savings in 2 years
Increased customer loyalty

Read the full story

Built for finance, backed by security

Enterprise-grade security: IBM FS validated, GDPR, SOC 2 Type 1,
Cyber Essentials, PII

Purpose-built for finance: Solutions designed for claims, renewals,
compliance, not generic chatbots

Seamless integrations: Tovie AI natively integrates with Salesforce,
HubSpot, and SharePoint, as well as core banking APIs

Proven ROI: Up to 50% faster processes, 80%
automation, millions in savings

Enterprise-ready AI deployment

Deploy Tovie AI solutions on cloud or on-premises, with AWS, IBM FS, and dedicated server options

Tovie AI seamlessly connects to any CRM, communication channel or knowledge base

Got a project in mind?

Talk to one of our experts

Whitepaper

From chatbots to agents: the real evolution of AI in Finance

Explore how Agentic AI redefines efficiency, compliance, and customer experience across financial services.

This whitepaper reveals what leading institutions are doing today to move beyond chatbots and how to build the next generation of intelligent, goal-driven systems.

Download the whitepaper and see what’s next for AI in financial services.

Get the whitepaper

Transform Financial Services with generative AI

Use generative AI in finance to turn manual, repetitive tasks into efficient automated workflows.

Generative AI for financial services and banking enables institutions to deliver faster, more accurate, and satisfying interactions across every stage of the customer journey

Speech and intent recognition
Engaging conversations
Multilingual support
Omnichannel communication

Acquire

Dedicated assistance

Leverage AI solutions for financial services to give customers the best possible options and advice. By using generative AI for finance and banking, you can analyse profile data and past communication to deliver relevant, personalised recommendations

Engage

Tailored offers

Tailored offers With AI automation for financial services, marketing campaigns can be fully customised to resonate with customers and deliver value. Promote offers through the right channels at the right time to maximise relevance and engagement

Support

Instant response

Instant response Generative AI for financial services powers 24/7 contextual support and quick issue resolution, ensuring customers get help whenever they need it

Ascend

Easy banking

Easy banking Simplify daily tasks with AI for banking and finance. The virtual assistant can handle balance inquiries, bill payments, and transfers with ease. Banks and insurers can deploy AI solutions for banking to reduce costs and boost customer satisfaction at scale

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Find more use cases for banking and insurance in our AI use case library

Discover industry stats on ROI and key steps to adopt AI securely

59%

decrease in claims processing times for insurers deploying AI, with payouts happening days faster and improved operational efficiency

33%

reduction in administrative costs for major insurance companies using AI automation in claims and policy servicing

63%

increase in customer satisfaction from AI-powered personalised claims assistance and virtual agents

70%

of initial calls in insurance and banking are now handled by AI-powered virtual voice agents, significantly improving scalability and response speed

Discover the insights

Not sure where to start?

Talk to one of our expertsOur experts will walk you through real use cases and help shape a roadmap that fits your priorities

FAQs

What is generative AI for insurance, and how can it benefit the industry?

The insurance industry is highly complex and relies heavily on data, from policy details to claims and regulatory documents. Generative AI has the potential to transform how this data is managed. It can automate data management, provide real-time access to information, simplify data discovery, and enhance the customer experience. As one of the industries most eager to adopt generative AI, insurance companies are using these tools to improve efficiency, boost customer satisfaction, and lower costs. To learn more about the generative AI applications in insurance visit our blog.

What are some key insurance use cases for generative AI?

Generative AI can support the insurance industry in several ways, including enhanced risk assessment and underwriting, claims management, 24/7 customer service, ensuring regulatory compliance and much more. These are just a few examples—explore more applications in our AI use case library.

What are the benefits of generative AI for finance and accounting?

Generative AI brings innovative solutions to finance and accounting, making processes faster and smarter. It can summarise and generate text, analyse data, and retrieve information efficiently. By leveraging predictive analytics, it supports better decision-making, automates financial reporting, and boosts customer service with AI-powered chatbots and virtual assistants.

What are the top generative AI use cases in banking?

Generative AI is transforming banking in multiple ways. Key use cases include automating document processing, enhancing fraud detection, streamlining financial planning and analysis, and improving portfolio management. It also powers AI-driven customer support, better risk assessment, and regulatory compliance. Also, check out our AI use case library to explore more.

How is generative AI transforming banking?

Generative AI for banking industry helps with customer onboarding, loan application processing, fraud prevention, and creating personalised banking experiences. Explore real-life examples of how banks worldwide are using generative AI here.

What compliance and security considerations should be addressed when using generative AI in finance and insurance?

Financial and insurance organisations must ensure data privacy, adhere to industry regulations, and implement safeguards to prevent misuse of AI-generated insights.

How to implement Generative AI in finance?

Banks are increasingly exploring the potential of Generative AI, such as ChatGPT-style solutions, for both customer-facing and internal applications. This technology allows employees to access information conversationally from various data sources, enhancing efficiency.

Language models may become the primary interface for organisational knowledge, fostering expertise scaling and productivity gains.

To embrace Generative AI for business, consider our GenAI consulting services. Our AI Readiness team can guide your financial organisation through the digital transformation journey, leveraging the benefits of this technology.

We assess AI use cases, conduct viability studies, and gather data for informed decision-making. Our streamlined application process includes model calibration, user-centric deployment, and a cloud-based pilot. Afterwards, we design a successful Generative AI adoption strategy, ensuring seamless integration into existing infrastructure for hassle-free utilisation. Contact our team to learn more.

What is conversational AI in banking?

How AI can be used in banking?

One of the most common applications of AI in banking is the use of conversational IVRs and self-service chatbots for automating first-line support. This reduces the need for repetitive work, such as answering common questions and provides customers with quick and convenient access to banking services.

What are the benefits of conversational AI in banking?

The primary benefits are improved employee productivity, reduced customer service costs, and streamlined operations, resulting in more satisfied customers. Everything mentioned can contribute to increased customer retention and revenue growth.

How to implement a banking AI chatbot?

You need to select a reliable AI-based chatbot service for financial industry that is designed to cater to the unique needs of financial institutions. It’s important to remember that due to customer data privacy regulations, the service provider must comply with the security standards in the financial sector such as through IBM Cloud validation. Tovie AI is the only conversational AI platform validated by IBM and fully eligible to be deployed in an enterprise setting.