Citigroup Launches Chatbot

Citigroup, the American banking giant, launches a service that will allow its customers to check their banking information via Facebook Messenger.

Citi Logo on a Steel Platform

The service, which is known as conversational computer program or chatbot, was launched last Thursday to its banking clients in Singapore.

According to a spokesperson of Citi, the bank is planning to roll out its new service in Australia and Hong Kong later this year.

The clients of the bank who register for the new service can gain access to information like their account balances and credit card bill summaries just by messaging the chatbot.

Citigroup developed the chatbot as part of the bank’s tactics to reach out to its growing digital-savvy consumers, especially those on Asia Pacific.

“The rapid adoption of mobile and other digital channels has transformed how Citi’s clients bank, sign up for cards or loans, pay their bills or use the bank’s wealth management services,” stated Citigroup.

As of now, the bank serves more than 16 million customers in the region.

Federal Agents Question Wells Fargo Employees

In other news, Federal agents interviewed Wells Fargo’s employees in its wealth management division as the government expands its investigation of the bank’s sales practices.

Wells Fargo Retail

According to a report on Friday, FBI has interviewed several employees of the bank in its Phoenix area. This is due to the Justice Department and Securities and Exchange Commission expanding its investigation into the sales practices of the bank.

Back in 2016, the bank already acknowledge its widespread problems with sales practices, such as the creation of 3.5 million accounts without the knowledge of its customers as the employees of its retail division pursued hostile sales targets.

Late 2017, the government asked Wells Fargo to start an investigation into the sales practices at its Advisors units after some whistleblowers flagged problems in sales and products.

Meanwhile, the bank did not provide any comment about the matter.

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