Funding Societies, a firm which funds Small and Medium Enterprises (SME) so that they grow as businesses, released a chatbot for their official website. The chatbot is designed to provide help at a faster rate so that you can get answers to all your questions. As the chatbot doesn’t sleep, it provides help 24×7. How will the chatbot fare against our expectations? Let’s find out!
Image Credits: Wikimedia Commons
You won’t find Miyu chatbot on any messaging platform as it is only available on the official website of Funding Societies. To activate the chatbot, all you need to do is click on the blue messaging icon at the bottom left of the screen. Once the chatbot is activated, it will introduce itself and inform you that it is ready to help you out.
The developers created Miyu so that the chatbot could answer simple customer queries regarding funding. If the chatbot is unable to answer the question or if it is extremely complex, the chatbot will contact one of the customer support representatives of Funding Societies to help you out.
To make sure that you and every other consumer has a great experience using the chatbot on Funding Societies, the developers worked hard on the personality of the chatbot. For starters, the chatbot’s personality is witty, unique, welcoming, and heartwarming. The developers created this personality by asking a series of casual questions to the employees of Funding Societies.
As natural language processing and artificial intelligence drive the chatbot, it doesn’t have any problems in understanding variations of basic questions. The chatbot can do more than just understand and pick up keywords. With the help of datasets, Miyu chatbot can understand up to 15,000 questions at the moment. As consumers keep asking the chatbot more questions, it will continue to improve at a significant pace.
Miyu chatbot is designed to answer questions that fall under the Frequently Asked Questions (FAQ) category as the company has to handle a large number of them. Whether you are an investor or a borrower, the chatbot will help you out as much as possible. For example, you can ask the chatbot how the company judges creditworthiness of Small and Medium Enterprises (SME). When you do this, the chatbot will give you a detailed description of the entire process. According to the chatbot, Funding Societies uses assessment technology from different markets to determine the creditworthiness of SMEs. The chatbot will also tell you that the company will go through soft and hard data, validate them using direct observation and third-party resources.
Now the chatbot can answer a myriad of questions without any problems. For example, if you ask the chatbot about the loan application procedure, it will ask you a variety of questions regarding your business. The chatbot will find out if the annual turnover of your company is greater than $300,000 and if it is a Limited Liability Partnership (LLP) or a Private Limited Company (Pte Ltd). Once the chatbot has answers to all its questions, it will ask you to message all your contact details so that one of the customer support representatives can reach out.
If you ask the chatbot about the loan amount, it will give you all the important details. For starters, the chatbot will tell you the minimum and maximum amount the company loans out to SMEs. Then, the chatbot will give you the procedure for certain range of loan amounts. If you want a loan amount that is in between $5,000 – $20,000, then you need to install their mobile application and fill in the online application. If the loan amount is larger than this value, then the account manager will get in touch with you.
The chatbot can also answer questions for borrowers such as what will happen if crowdfunding doesn’t go according to plan, what is the next step after the last repayment, and is it possible to apply for another loan if there is an active one with the company to name a few.
Even though the chatbot has artificial intelligence, it can’t answer questions that are not related to the company’s type of business. For example, if you ask it a question about space or any other unrelated topic, the chatbot will hand the conversation to a customer service representative for further assistance.
Overall, Miyu chatbot is extremely useful when you don’t have the time to go through the Frequently Asked Questions (FAQ). On top of that, the developers added natural language processing and artificial intelligence so that it can understand a variety of similar questions without any problems. If the questions are too complex for the chatbot, it will request a customer service representative to take over the conversation. Miyu chatbot does exactly what it needs to do, which is to make the life of consumers simple and easy!
Do check out Miyu on Funding Societies if you want to take a look at a well-designed chatbot!
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