NAB launches Australia’s first superannuation virtual assistant

Posted: 16 March 2018 11:07 am
NAB 450

The digital assistant, Talk to MLC, is programmed to answer the top 15 questions customers ask about superannuation.

NAB has today launched a virtual assistant for superannuation called Talk to MLC, available on a range of Google Home devices. Customers can use the feature via Google's Assistant platform to ask a range of popular questions regarding superannuation and receive instant answers without the need to call through to customer support.

The digital assistant can help with standard customer questions, such as "How do I open an account?". The tool will be used to help customers better engage with their super and in a more easy, convenient way. It is not yet able to offer advice to customers regarding their super or investment decisions. However, the bank said this is in the pipeline.

"Talk to MLC has been programmed to answer the fifteen most common questions people ask us – including how they can open an MLC account, change their investment options, and how to find lost super. In the near future, we’ll be able to help people with personalised tips to boost their super, give projections of where their super will be at retirement, and speak to them about how investing their money in super instead of spending it could add up. After that, the world is really our oyster," said MLC Customer Experience Specialist, Peter Forster.

NAB told the Australian Financial Review it will keep a record of the questions and queries that customers ask of the virtual assistant, in order to help develop the platform to further meet the needs of users. Eventually the virtual assistant will be able to answer around 40 different customer questions.

NAB said the technology took six weeks to develop, and it's confident the tool will become more mainstream among Australians, particularly millennials. "Very soon we expect most people to access their super this way – it’s convenient, you don’t have to remember passwords, and the whole experience will be highly personalised," said Forster.

Virtual assistants are becoming increasingly popular among financial service companies, as consumers demand faster access to support without the need to visit a branch or call the support team. In May 2017 UBank launched Australia's first artificial chatbot for home loans called RoboChat. The chatbot was trained to competently answer 40 home loan related queries at launch in order to simplify the complicated process of applying for a home loan.

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