The Bangko Sentral ng Pilipinas (BSP) chatbot that assists consumers who approach the BSP on complaints against BSP-Supervised Financial Institutions (BSFIs) is now on live run.
Called “BOB” (BSP Online Buddy), the chatbot has been pilot tested and is now fully deployed to serve Filipino financial consumers.
“Aside from enhancing BSP’s quality of service, BOB empowers financial consumers by giving them a more accessible channel for raising complaints. This is in line with BSP’s commitment to pursue innovations in financial services for the benefit of Filipinos,” said BSP Governor Benjamin Diokno.
Managed by BSP’s Center for Learning and Inclusion Advocacy, the chatbot mainly provides BSP with an automated capability to handle complaints against financial institutions under its authority.
The chatbot can efficiently handle queries from consumers sent through the webchat in the BSP Website, SMS, or social media (Facebook messenger). By using “Artificial Intelligence” and “Natural Language Processing,” BOB can respond to queries and complaints in English, Tagalog or Taglish.
With its ability to provide adequate responses and to automatically refer concerns to the BSFI concerned for action, the chatbot also enables BSP to gain valuable insights into customer experiences and banking practices. This strengthens BSP’s Consumer Assistance Mechanism.
Financial consumers are encouraged to use and take advantage of the technology in order to have accessible, continuous, timely and efficient platform for escalating their complaints against BSFIs.