Commerzbank is set to launch an AI avatar named Ava, designed to engage with the bank’s private and small business clients through “natural and engaging conversations.”
With the ability to understand and respond in everyday language, Ava will provide both general information and personalized advice regarding a range of banking services. This innovative avatar is the result of an extensive 18-month development project and is powered by Microsoft Azure’s OpenAI Service, utilizing advanced GPT models. Notably, Ava is modeled after a professional actress.
“Commerzbank is among the pioneers in integrating generative AI with avatar technology for customer applications. With Ava, we aim to redefine the standards of digital banking,” stated Thomas Schaufler, a board member responsible for private and small business clients at Commerzbank. “Our objective is to offer solutions that streamline our customers’ banking experiences, making them quick, simple, and convenient.”
Beyond answering general queries about Commerzbank’s products, Ava is equipped to provide tailored insights based on individual customer needs and existing accounts. Furthermore, Ava facilitates the digital completion of transactions directly within interactions, which includes functionalities such as ordering a new credit card, blocking or unblocking an existing card, or adjusting credit limits.
For inquiries that require deeper expertise, customers will be directed to specialized staff at the bank’s customer center. Schaufler mentioned that Ava’s capabilities will be continually enhanced based on user feedback. Initially, Ava will communicate in German, with plans for an English-language version in the future.