HDFC Bank set out to develop a unique user experience for their consumers which addressed the growing market need for conversational banking via a messaging bot.
HDFC Bank observed that consumers often had to download separate apps for daily requirements like cab bookings, bill payments and other services. This had led to a cluttered mobile screen which did not translate into a user-friendly customer experience. As HDFC Bank looked towards creating an enhanced customer experience, it was essential that their services they offered could be easily accessed on a single platform and free of any complicated menu-based interface.
HDFC Bank identified that with Facebook Messenger, consumers could access the bank’s services without the additional step of downloading an extra app. Messenger’s broad reach to consumers aged between 18 to 25 years old also allowed easy and convenient communication between HDFC Bank and its target audience. Further boosted by tools for better consumer understanding the likes of Facebook Analytics, click-to-Messenger ads, developer tool kits, API docs and events configurations, has made Messenger HDFC Bank’s choice platform to launch the bot.
“HDFC Bank was looking to offer a unique user experience to its younger target audience through conversational banking via a chat bot. With OnChat, we’ve assisted HDFC bank achieve a 12% chat-to-order conversion ratio. Out of every 100 people who had interacted with the chatbot, 12 people had carried out a financial transaction,” says Sachin Jaiswal – CEO, Niki.ai.
HDFC Bank has also received more than 137,000 new account signups via phone registration from the OnChat bot and acquired more than 40% of their active users through click-to-Messenger ads.
“Niki.ai aims to provide a one stop shop for everything eCommerce by leveraging the power of natural conversations, Niki makes the whole journey from discovery to transaction fast, convenient and extremely simple,” says Sachin Jaiswal
The company looks to explore more of relevant messaging platforms like Slack, Telegram etc. Niki is already available on iOS, Android, Facebook and Web platform, with more partnerships inline, the company aims to ubiquitous – present everywhere and for everything transactional.
Essentially, this feature allows the user on HDFC Bank’s Facebook messenger to search/track stock prices via their chatbot, from where customer can trade in stocks using HDFC securities platform.