Creating an AI-based personal assistant: Case study of Is¸bank ‘Maxi’

Halim Memiş and Zeynep Geylan
Additional contact information
Halim Memiş: iş Bankası, is Kuleleri Kule:1 Kat:12, Turkey
Zeynep Geylan: iş Bankası, is Kuleleri Kule:1 Kat:16, Turkey

Journal of Digital Banking, 2021, vol. 5, issue 4, 321-328

Abstract: This paper looks at Is¸bank’s Personal Assistant ‘Maxi’ as a case study to demonstrate the important touchpoints in building a personal assistant and provides details of its construction. Is¸bank was established in 1926 and is the biggest private bank in Turkey. Its personal assistant Maxi was added to its mobile application in 2018. Since its launch, Maxi has recorded an impressive number of queries, overwhelmingly positive feedbacks and a very high percentage of accuracy, all of which demonstrate that the steps Is¸bank has taken have been effective. Contrary to the customary application of artificial intelligence (AI) in customer services in the finance sector as chatbots, Maxi was designed to be a personal assistant. Therefore, while acknowledging the existence and the advantages of chatbots in the banking sector, this paper dwells on the formation of a ‘personal assistant’, which, unlike chatbots, recognises its unique user, carries out certain tasks given to it and provides insights to assist the user with regard to financial decisions. A brief overview of AI will first be provided, followed by a detailed explanation of the seven steps involved in creating an AI-based personal assistant in banking.

Keywords: artificial intelligence; digital banking; mobile banking; personal assistants (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://hstalks.com/article/6216/download/ (application/pdf)
https://hstalks.com/article/6216/ (text/html)
Requires a paid subscription for full access.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aza:jdb000:y:2021:v:5:i:4:p:321-328

Access Statistics for this article

More articles in Journal of Digital Banking from Henry Stewart Publications
Bibliographic data for series maintained by Henry Stewart Talks ().