Commerzbank plans AI-based avatar with Microsoft Azure

Commerzbank is one of the first banks planning to develop a customer application that combines generative AI and avatar technology. Until now, many banks have held back when it comes to implementing AI applications. Commerzbank AG now wants to take a big step and offer customers a better digital experience. The avatar is being developed with Microsoft Azure OpenAI Service.

The AI banking avatar of Commerzbank

Commerzbank AG is planning the AI Banking Avatar as a mobile-first application. With this, the bank wants to take an important step towards improving and simplifying user-friendliness in the digital space for its customers. The avatar is to be integrated directly into the Commerzbank app and will therefore be available to around 2.2 million users from the outset.

The Avatar project is a leap forward in Commerzbank's IT strategy. The application is being implemented with Microsoft Azure OpenAI Service, which enables customers to use OpenAI's AI (ChatGPT, GPT-4, DALL-E) to develop their own applications based on artificial intelligence.

OpenAI and Microsoft Azure ensure a secure environment for the development of applications with generative AI. In addition to the GPT model for natural language, the avatar will also use the new "Microsoft Azure text to speech avatar service", which Microsoft recently presented at the Microsoft Ignite trade fair. This service provides realistic digital avatars.

The banking avatar is to be a virtual assistant represented by a digitized person. customers can interact with this digital person and receive answers in natural language.

The avatar is designed to answer simple questions about general information, but also to provide personalized tips and advice. This includes the various banking services for private and business customers of Commerzbank. This should make it easier for all customers to find their way around and find the best conditions for their accounts.

Commerzbank as a pioneer for AI in banks?

Commerzbank is one of the first banks to offer such an AI-based avatar application for its customers. Commerzbank is thus leaving quite a large digital footprint and it remains to be seen whether other banks will follow in its footsteps.

Commerzbank is firmly convinced that this step will improve its own service and digital offering for its customers and thus increase customer satisfaction. Initial customer tests confirm this impression. So far, the response has been consistently positive.

Logically, the voices within the company are also consistently positive and convinced that the digital AI banking avatar represents a major step forward.

Thomas Schaufler, Board Member for Private and Small-Business Customers at Commerzbank, says of the project: "It's a new way of banking that combines convenience, personalization and next-level digital performance. We want to offer our customers the best digital experience and help them to manage their finances easily and with confidence."

Dr. Jörg Oliveri del Castillo-Schulz, Chief Operating Officer of Commerzbank, is convinced that both customers and the bank itself will benefit from this development: "It will significantly improve the customer interface, the customer experience and the banking processes."

After the positive customer tests and during the general hype surrounding artificial intelligence, the project is likely to be a success.

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