SRI Blog

Meet Lola, a Virtual Personal Assistant for Banking

We are very excited to publicly announce the Lola project, and the future of Virtual Personal Assistants for banking. This project, which we've been working on with BBVA for several years now, is the first application of what we see as the next generation of virtual personal assistant technology beyond Siri.

For BBVA, Lola is a cornerstone of its customer-centric banking vision, which includes bringing the simplicity and reassurance of in-branch banking to the online world. The goal of the Lola project is to achieve that simplicity and reassurance by integrating human-like interaction into the user experience.

Creating more human-like interaction means understanding the user's intent and then acting upon it. Since users usually can't express their intent in a single sentence, Lola needs to understand conversation.  To act on the user's intent, Lola must reason about what to do, and know how to do it in the online banking system.  These are difficult challenges, but when BBVA came to us with these needs, we saw them as a great fit for SRI's next generation virtual personal assistant technology, which is based on conversational natural language understanding, reasoning, and in-depth knowledge of specific applications.

BBVA Compass (their North American franchise) will be testing Lola over the next months internally with employees and their families. We will be using that experience to improve Lola's natural language capabilities while simultaneously expanding the range of banking services and capabilities it supports.  When the system is customer-ready, it will be deployed more widely.  BBVA sees VPA-based banking expanding to all of the bank's touch points with customers, and to ever more sophisticated assistance such as suggesting ways for customers to make better use of the bank's evolving products and services.

With Lola we are seeing a fundamental step toward the future of banking, and a key milestone for SRI's next generation of VPA technology.

6 Comments

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Clifford Brody

Sounds very cool! I worked on a similar artificial intelligence project with Chemical Bank almost 2 decades ago. At the time, the technology simply wasn't advanced enough to do more than simple customer service and transactions based on keywords.
You can read a bit about it here: globalbankersinstitute.com/index.php/aboutgbi/principals.

Best wishes in your endeavor!

Cliff

Clifford G. Brody
Founder and Chief Executive Officer
Global Bankers Institute

Kenjie Acosta

Can this application outperform personal assistant (person/people)? If so, does this mean bank owners don’t need to hire a personal assistant anymore?

Anonymous

When we see the banking sector, we can see that it is always growing and new banks are being opened and new branches for the existing banks. It s good to know about the virtual personal assistance for banking. Thank you.

Anonymous

nice app assuming it does what it is supposed to

alesso

interesting

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