8.6 C
New York
Tuesday, June 22, 2021
Home News FinovateEurope: Danske Bank’s Søren R. J. Andreasen vs. chatbots!

FinovateEurope: Danske Bank’s Søren R. J. Andreasen vs. chatbots!

Danske Bank’s UK CDO, Søren Rode Jain Andreasen has not really found a chatbot he actually likes.

“I have tried and tested a number of providers solutions at the bank, but none of them have left him feeling satisfied. We’ve tested different chatbots, but I don’t like them, and more importantly, customers don’t like them,” Andreasen told at FinovateEurope in Berlin.

Related: Mobile payments in 2024? Biometrics about to secure $2.5 trillion.

“I always start with ‘how can we help the customer?’, rather than ‘how we can save money?’,” says Andreasen. Trouble is Danske bank’s profits could seriously decrease this year. Mostly because of €200 billion money-laundering scandal and negative interest rates. This issue goes on for almost a decade and it seems that the bank’s customer wellbeing is unfortunately not the first thing they will have on their minds in the upcoming year.

Despite his dislike for chatbots, Andreasen says walking into a Danske bank’s branch is like walking into Applestore. “You feel like you’re inside an iPhone”.

Søren Rode Jain Andreasen, Danske Bank UK CDO

“The ‘do it yourself’ approach just leads to customers getting dropped,” he says. “We put people in between the DIY technology – lots of banks have forgotten that step.”

Related: Banking chatbot developer Kasisto raises $22 million

“Many challenger banks lack a physical channel targeting and focus on small market segments. The core of banking is lending,” he adds. “We’re in it for the long run”.

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Revolut revenue grows but operating losses double to £201m

Revolut announced that 2020 adjusted revenues, that grew 57% to £261 million. However, operating losses in 2020 have doubled.

Bunq valued at 1.65 billion € after first investment

Dutch digital bank Bunq managed to close the very first funding round with an undisclosed British private equity firm.

Wise expects valuation of £9bn with new London listing

Wise, former TransferWise, is about to go public on the London Stock Exchange through a direct listing.

N26 exceeds 2 million customers in France

N26 announced that it has convinced 2 million French customers to use its services after 4,5 years since entering the market.