MSU Financial Credit Union (MSUFCU) launched an external chatbot driven by artificial intelligence (AI) this year, but the $6.6 billion credit union already has plans to increase its chatbot automation in 2022.
MSUFCU CEO Craig Bryson recently spoke at the company’s annual meeting where he announced that MSUFCU has partnered with Sumeru Solutions to develop a chatbot platform for internal and external use. The new AI-powered bot will be available in early 2022, but the credit union is already planning how it can automate more processes by the end of next year.
MSUFCU has already launched an AI chatbot platform, but it will expand its usage in 2022 with Sumeru Solutions.
“We’re going to be developing a lot of things,” said General Manager and CEO of MSUFCU, John Houghton. “Chatbots are just the first step.”
Houghton anticipates that their current AI-powered external chatbot will evolve into more complex conversational interfaces such as voice control or integrating with other applications on smartphones.
This increased automation will allow for more efficiency between branches and customers alike while also freeing up time for employees to focus on other tasks at hand.
“We’ve had a lot of people who have really pushed us to think through what we’re doing and how we’re using it,” Houghton said. “It’s not something that you can just jump in and do.”
Houghton has been working with other credit unions and banks to better understand how chatbots have been implemented elsewhere.
“The nice thing about being part of a larger group like CUES is that, even though we compete in some areas, you can still share best practices,” he said.
MSUFCU will look into integrating their automated external chatbot with other chatbots in the future.
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