Mizuho Bank: AI and Social Media Banking
Celent Model Bank Award: Mizuho Bank: AI and Social Media Banking
Winners of Celent Model Bank 2017 Award for Consumer Banking Channel Innovation. Mizuho Bank invested in two new customer-facing innovations over the course of the last few years. The bank is using Pepper in the branches, partnering with Softbank and IBM Watson to create a unique branch experience leveraging AI. The second innovation is allowing transactions through the social messaging app LINE.
Leveraging IBM's Watson for an in-branch concierge equipped with ability to understand and react to customer requests is something truly leading edge. Chat bots are also becoming extremely valuable engagement tools, and it was great to see a bank launch one.
While the industry is largely focused on digital channel innovation, Mizuho is an example that the branch is far from dead. Celent thinks the branch of the future will be a digital channel just like mobile and online, equipped with a modern presentation layer and user experience. Mizuho was a great example of commitment and investment into next-gen digital branch technology.
"While the industry is largely focused digital channel innovation, Mizuho is an example that the branch is far from dead," commented Stephen Greer, an Analyst in Celent's Banking practice. "Combined with its chatbot, the use of AI in the branch is expanding Mizuho's reach and engaging customers in whole new ways."