User Experience StrategiesAdvanced HMI Strategies

Advanced HMI Strategies

Bank Of America’s Erica Chatbot: Upfront Transparency & Constant Education Drive Usage



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Report Summary:

Chatbots are becoming the present and future of B2C communication and are being deployed across a wide range of industries. Financial institutions like Bank of America have developed their own conversational UI chatbots in an attempt to accommodate the current needs and behaviors of their customers and provide a quicker, more convenient banking experience.
Within the first three months of launching Bank of America’s Erica AI chatbot had over 1 million users. Strategy Analytics has identified two solid executions which have helped BofA gain this level of success and what they are doing to make the AI chatbot experience within their app remain both useful, usable, and compelling for their customers’ banking needs.

Table of Contents

Introduction & Overview 2
Chatbot Use Cases  3
Consumer Interest in Advanced Messaging Features  4
Success of Erica  5
Erica Usability  7
User Experience Summary 10
Analyst Contacts  11

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