8.6 C
New York
Sunday, January 16, 2022
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 is launching as a bank in 10 more European countries

This means the London-based digital bank is now offering deposit protection of up to € 100,000 to local customers in the particular markets.

Starling has stopped advertising on Facebook and Instagram

The CEO Anne Boden says the company won’t advertise on Facebook or Instagram ‘alongside scammers who are going after the savings of our customers.

Commodities trading now enabled by Revolut for Singapore users

The Monetary Authority of Singapore (MAS) has given permission to Revolut to allow customers to trade gold and silver on its platform.

Tencent takes stake in Monzo Bank

The tech giant from China Tencent has taken a minor stake in Monzo Bank after joining Monzo's latest funding round.