Financial services businesses are quickly launching new Facebook Messenger chatbots to improve their customer service experience, an area where banks have often lagged.
On Tuesday, Mastercard unveiled a new chatbot for banks and merchants to help them deliver better mobile experiences, something consumers now expect.
"We are seeing consumer preferences shifting and we want to make sure that we stay relevant," said Kiki Del Valle, Mastercard SVP of commerce for every device.
The bot — which launches first in the U.S. next year — is nicknamed "Mastercard KAI." The company announced the new bot on Tuesday during the Money 20/20 conference in Las Vegas.