Ubank Introduce Home Lending Chatbot

Ubank have introduced a new chatbot, named RoboChat, to assist customers with home lending.


Ubank are once again reminding Australians why their digital-based approach is driving the way for innovation, after they announced Australia’s first home lending chatbot available for all Ubank customers.

The virtual assistant, named RoboChat, will aim to ease the complicated process of achieving a home loan by answering real-time input questions such as “what terms do you offer on home loans?”.

RoboChat was built off of IBM Watson’s cognitive AI and will continue to learn based off of responses made by customers. This means that over time, the chatbot will constantly be adapting to the needs of the user, enhancing the already tremendous customer experience Ubank provides.

CEO of Ubank, Lee Hatton, said that their goal was to make the application forms easier and better for customers, and to ensure that the user’s precious time and money are saved in the process.

“Our goal is to deliver simpler, better, smarter banking to our customers and RoboChat will help deliver on this by streamlining the application form,” she said.

“If you’ve gathered all of your paperwork, the form can be completed in as little time as it takes you to have your breakfast. And, securing one of the most competitive rates in the market could help a customer save thousands of dollars in interest over the life of a loan.”

Hatton was also keen to stress that the 24/7 chatbot will not be replacing employees, but will be working with the customer service team.

“RoboChat will be a very welcome addition to our team of customer service experts.”

“UBank will still have experienced staff on hand to chat on the phone, via email and our live online chat offering, RoboChat will provide an added option for those needing quick online responses or those that are close to finalising the form.”

Brock Douglas, Vice President Watson of IBM Asia Pacific, said that Ubank’s involvement in the industry emphasises the power that cognitive AI can have with customers, as it can better engage with them than stock responses.

“This year IBM Watson will engage with more than a billion people, across 20 industries. UBank’s work with IBM Watson is a powerful example of how organisations are leveraging cognitive virtual assistants that have the ability to engage in a conversation, ask questions, learn and respond in context – as opposed to providing stock responses,” he said.

Jo Kelly, CMO, Ubank

If you would like to hear more about Ubank’s RoboChat and their digital transformation as a whole, Ubank’s CMO, Jo Kelly will explore these insights at this year’s CMO Disrupt, Sydney.