National Australia Bank (NAB) has launched a virtual banker designed specifically for business customers, enabling them to receive instant answers and assistance with banking questions and requests.

The virtual banker is currently in pilot and is available 24/7 on the bank’s website, providing help with more than 200 common questions related to the servicing of business banking accounts.

The artificial intelligence behind the technology is derived from thousands of real-life customer enquiries. There are more than 13,000 variants of the 200 questions that the virtual banker can answer, and if the query cannot be answered the customer will be directed to a human banker.

Antony Cahill, chief operating officer at NAB, said: “Our research shows that two thirds of Australian SMEs cite dealing with administrative tasks as taking a lot of effort, and our customers desperately want to spend more time on their business and less time on dealing with admin tasks.

“We’re working hard to make banking an easy and supportive experience for our customers and technology like this helps save business customers critical time. When they have a question about their banking, our virtual banker is there to help solve it 24 hours a day, seven days a week; it’s a simple and seamless on-the-go experience.

He added: “We will continue to develop the virtual banker over coming months, enabling an even broader and more diverse range of instant answers and guidance for business customers.”

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