
Financial institutions are increasingly using chatbots, which put out human-like responses using computer programming, to communicate with customers to save money. Chatbots sometimes have human names and use popup features to encourage interaction. Some chatbots use more complex technologies such as “artificial intelligence” to respond to customers. The Consumer Financial Protection Bureau has received hundreds of complaints from frustrated customers trying to receive timely, straightforward answers from their financial institutions or to raise a concern or dispute. “To reduce costs, many... Continue Reading