Banking, Financial Services & Insurance (BFSI) Use Cases with MChatbot

Welcome! Explore how BFSI companies can use MChatbot Template Agents to streamline customer service, onboarding, KYC, claims, and more—across channels like WhatsApp, Web, IVR, and SMS.

Who Is This For?

Banks, NBFCs, insurers, fintechs, and teams working in service, CX, compliance, risk, marketing, or collections.

What Can You Achieve?

• Guide applicants & customers through onboarding, KYC, and account opening — step by step.
• Let users self-serve for balance, statements, and account issues, reducing waiting time.
• Help customers apply for loans/cards, check eligibility, and get next steps instantly.
• Make insurance servicing (renewals, receipts, address changes) friction-free.
• Automate claims, raise tickets, and keep users updated—without call center hold times.
• Proactively alert about dues, fraud, or important actions over chat.
• Ensure compliance: capture audit trails, mask sensitive data, and log all changes.

Core Building Blocks

Template Agent: Handles conversations and understands banking/insurance topics, regulated statements, and customer intents.

Node Libraries: Plug into data sources and tools — Core Banking, KYC/AML, Credit Bureau, Payments, CRM, Policy Admin, Risk/Fraud, and more.

Bot: Connects to your users on their channel of choice—WhatsApp, Web Chat, SMS, IVR.

Workflow Automation: After chat, auto-send e-sign forms, notifications, raise tickets, push data to downstream systems, or run audits.

Example Use Cases (How it Works)

1. Account Opening & KYC Assist

• Journey: User chooses “Open account” (Web/WhatsApp) → Agent explains options → Digital KYC (ID upload, liveness check) → Instant verification → Account created and welcome pack sent.
• Sample Chat:
  • User: "Open zero-balance account."
  • Agent: "Upload ID please. ... Liveness verified. You're all set!"
• Value: Simple, paperless onboarding with fewer branch visits.

2. Loan or Card Pre-qualification

• Journey: User asks, "Am I eligible?" (any channel) → Agent collects basics → Pulls credit score (non-impact) → Shows offers → Lets user instantly apply or book appointment.
• Sample Chat:
  • User: "Need ₹3L personal loan."
  • Agent: "You may be eligible for ₹2.5–3L. Start pre-application?"
• Value: Transparency and quick steps to application.

3. Instant Balance, Statements & Limits

• Journey: User requests "Statement for Aug" or "Increase limit" → Agent verifies with OTP → Shares statement (via chat/email PDF) or starts limit increase process.
• Sample Chat:
  • User: "Share July statement."
  • Agent: "Sent to your email. Need help with anything else?"
• Value: 24x7 service, no calls needed.

4. Insurance Policy Service & Premiums

• Journey: User checks "Due date?" or requests "Premium receipt" → Agent gets policy details → Enables address changes, payments, document uploads—guides user to receipt.
• Sample Chat:
  • User: "Pay premium now."
  • Agent: "Here’s the link. You’ll receive a receipt after payment."
• Value: Quicker renewals, less paperwork.

5. Claims First Notification of Loss (FNOL) & Status

• Journey: User clicks “Report claim” or triggered by app event → Agent collects incident info and documents/photos → Checks coverage → Creates claim → Gives checklist and status updates.
• Sample Chat:
  • User: "Rear bump, minor dent."
  • Agent: "Claim started. Please upload photos. Garage list sent."
• Value: Fast, transparent claims process.

6. Fraud Alerts & Transaction Disputes

• Journey: User reports "Unknown debit" or system detects risk → Agent verifies user → Instantly blocks card if suspicious → Opens dispute ticket and shares status.
• Sample Chat:
  • User: "Not my charge."
  • Agent: "Card blocked. Your dispute is being processed."
• Value: Reduce fraud loss, build trust.

7. Collections & Payment Reminders

• Journey: Agent notifies users with upcoming dues via WhatsApp/SMS/IVR → Offers pay-now, split, or new plan options → Processes collection and updates CRM.
• Sample Chat:
  • Agent: "EMI due in 3 days. Pay now or want to set up a plan?"
• Value: Higher collections, better customer experience.

8. Safe Wealth & Advisory Q&A

• Journey: User asks about investments (e.g., "FD vs debt fund?") → Agent shares only approved, general info → Offers callback from human advisor—never delivers personal recommendations.
• Sample Chat:
  • User: "Debt fund vs fixed deposit?"
  • Agent: "Here’s a comparison table. Want an advisor to contact you?"
• Value: Engage without compliance worries.

Keeping Users Safe

• Regulated language and approved disclaimers always used.
• Consent is captured for sensitive actions, and all updates are logged for audit.
• PII is masked; no sensitive info is ever shared on insecure channels.

What Results to Expect?

• Faster onboarding and account opening
• More users resolving queries themselves
• Smoother claims and renewals
• Reduced fraud losses and less phone traffic
• Measurable improvements in CSAT and compliance

Ready to Try?

• [ ] Start with a BFSI Template Agent
• [ ] Add only the nodes (KYC, Core, Payments, Risk, etc) you need
• [ ] Connect your channels (Web, WhatsApp, IVR, SMS)
• [ ] Set up automations for your after-chat flows
• [ ] Launch and improve with real insights

Need help? Contact us for a walkthrough or integration support.