8.6 C
New York
Sunday, October 1, 2023
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”.

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

Recent posts

Demystifying Payment Engines, Gateways, Processors, and Channels

The payment infrastructure is the foundation of all financial transactions in the dynamic world of digital commerce.

Cross-Border Payments, Deep Dive

It will take a deliberate strategy grounded on in-depth local market and industry knowledge to navigate this complicated and diversified market.

Achieving Product-Market Fit: A UX Designers Guide 

The Product-Market Fit framework, coupled with key insights and practical methods, offer organizations a road map for navigating this vital phase successfully.

Product Management and Fintech UX Design: Designing a Dashboard for Your Banking App

In the ever-changing fintech and banking ecosystem, where technological advancements are a constant, the importance of adept dashboard design can't be overstated.