Enhancing Customer Engagement in Banking: Transforming Customer Satisfaction and Retention with Multilingual Support

Abstract

The research is on the role of AI-powered voice assistants to enhance the experience of the customer and the retention rate of clients of banking applications in Sri Lanka by overcoming elements such as language barriers, excessive waiting periods, and weak security systems. To overcome the language barrier, the – AI assistant enables customers to use the mobile banking application in the Sinhala, Tamil, and English languages. The barriers are together put aside as the customers speak to the application and their problem is solved. Presenting instructions in a structured format allows the users to eliminate several rudimentary tasks of interacting with pivotal services including, checking account balances, sending money, and paying bills. The results show that voice-driven interactions with AI chatbots guarantee improved presence of users in the system and, such advances help users to resolve fundamental problems caused by low literacy levels and lack of assistance at critical times. This study offers significant insights to banking institutions that aim at enhancing their AI-powered voice assistants to provide a more holistic and effective digital ecosystem for the clients in the said country.