Opening, closing and managing accounts might appear to be simple tasks, but banks spend significant time and capital on systems to make sure account information is accurate, up-to-date and secure. Whether for consumer or corporate customers, banks want to make account management as simple and as seamless as possible, all while adhering to industry regulations.

With digital banking and transaction volumes increasing, banks are looking for new technologies that will streamline account management and reduce operational costs, without sacrificing customer service. In fact, banks and financial institutions are focused on improving customer experience whenever possible to prevent customers from taking their business to competitors.

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I’d like to schedule a recurring transfer to a shared account.
Of course, I already have your account information, on what day should I schedule the transfer?

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EY’s Global Banking Outlook1 found that simplifying or restructuring business operations was the top overall priority among 300 surveyed banks, and 63% said optimizing customer channels was the most important strategic initiative.

Banks have traditionally embraced cutting-edge technology, and they’re now setting their sights on Artificial Intelligence (AI) for their next wave of investment. In the EY report, 56% they were focused on leveraging new technology for efficiency, including automation.

By hiring IPsoft’s Amelia to automate many of the tasks related to account management, banks and institutions can focus on their core mission of serving customers.

[Amelia] is always available, no waiting required – which is critical, because users are very sensitive to wait-times for IT help, and they always welcome a quicker response.


What Amelia Can Do

As a digital colleague, Amelia can process high account volumes at machine speed with an embedded intelligence that ensures consistency, accuracy and security. Personalized customer service is critical in digital banking, especially when it concerns consumers’ accounts and available balances.

Amelia’s ability to speak like a human, show emotion and make recommendations sets her apart from static, impersonal chatbots that can provide limited pre-programmed responses. Amelia elevates customer exchanges to the point where customers don’t realize they’re interacting with an AI platform and not an actual person.

Onboarding new customers: For new customers, Amelia can use her automation ability to collect and confirm customer information, open accounts, and ensure that a bank is in compliance with all security procedures and financial regulations. She can also prompt users if required information is missing or incomplete.

Know Your Customer (KYC): The KYC process involves banks collecting a variety of customer information – such as legal name, address, employment etc. – and confirming customer identities. This data collection, which is used in account activation and as a separate service, must be periodically updated for banks to remain in compliance. Amelia can connect to multiple data sources, so she can gather the information and connect with all necessary back-end systems and business processes. Amelia’s analytics and ability to learn allow her to make recommendations and suggestions on new banking products based on customer data and patterns.

Our customers want 24/7 customer service across multiple devices.

I’m always available through phone, web, and mobile. Oh, and smart speakers, too.

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Account changes and transfers: For existing customers, Amelia’s advanced workflows can process account modifications and closings quickly and efficiently. Her automated training ability means she can quickly learn a bank’s business operations, new processes and new regulations as needed. She also can seamlessly handle transfers between accounts thanks to her integration hub that ties into back-end processes at banks and financial institutions.

Account inquiries: Through her conversational interface, Amelia can provide customers with up-to-date account information, such as balances, debits and withholding charges. If erroneous charges or account information is discovered, Amelia can work with a customer to make a report to the bank. With her emotional intelligence and empathy, Amelia can reassure customers that the bank is working to resolve any issues and what steps they can take to further protect their account.

All of these services can be delivered via multiple channels on a platform that is available 24/7 and highly scalable, allowing Amelia to be “always on” to handle spikes in interaction volumes. Unlike a static chatbot, Amelia can speak as humans speak thanks to her natural language processing and understanding, so customers can use short phrases or expressions that Amelia will instantly recognize.


Amelia provides a seamless AI-powered experience for account management, allowing banks to offer superior customer service that translates into stronger customer relationships.


Amelia already is in use at five of the world’s largest investment banks that have embraced AI innovation to deliver benefits for their business operations, customer experiences and employee workforces.

Amelia’s conversational intelligence lets the customer seamlessly transition to any related needs they may have.

End-to-end customer experience: Amelia drives customer interactions from start to finish, with faster speed compared to humans and with high degrees of accuracy, in some cases reaching 90%. With her emotional intelligence, Amelia provides a dynamic kind of customer experience that can lead to higher customer satisfaction and Net Promoter Scores

Decreased operational costs and resolution times: Taking over more repetitive tasks at machine speed, Amelia’s scaling and transaction processing abilities have the dual effect of reducing operational costs – in some cases by as much as one-third, resulting in savings measured in millions – while bringing down resolution times by a factor of 2x or more.

Workforce engagement: With Amelia taking on repetitive tasks such as account origination, human colleagues can engage with customers on higher-value interactions, such as discussing new banking products and services. When Amelia is unable to provide a solution, human colleagues can pick up exactly where Amelia left off in a conversation, as she keeps a complete record of her work.