Chatbots in Banking: Compliance & Security

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Safety and privacy are common concerns for banks. WhatsApp conversations are end-to-end encrypted, meaning nobody, not even WhatsApp or its parent company, Meta, can read your customer communications.

When it comes to GDPR, there are a few things you can do to be compliant:

Obtain opt-in from your customers
WhatsApp strongly recommends businesses to receive consent from their customers that explicitly mention they wish to receive messages from your business on WhatsApp. To be GDPR-compliant, businesses must obtain opt-ins before messaging customers too.

Inform customers about data handling
You must tell your customers about the following: - Your bangladesh whatsapp phone number organization’s liable personnel for data protection - The purpose of storing their information - How long will you store their data

Enable Access and Deletion Requests
Your customers must be able to get a copy of their personal data and supplementary information. Moreover, it must be possible to erase their data if they request it.

Setting Up a WhatsApp Chatbot for Banking
Let’s say your bank is looking to enhance its customer service and lead qualification process for home loans. To achieve this, you’d need to:

Qualify Leads for Home Loans
Develop a Regulation-Compliant Flowchart
By integrating a chatbot into the loan qualification process, you can efficiently manage initial borrower interactions, ensuring that only qualified leads are forwarded to your agents.

Chatbot flow chart dedeloped for a bank.

In our recent post, WhatsApp Chatbots: What Are They & How To Create One, you can learn everything you need to know to build a chatbot flow.

When considering how to create a WhatsApp chatbot for your bank, you have two options to choose from:

Create it from scratch - if you are a technical person or have a tech team.
Build a WhatsApp chatbot in minutes using a drag-and-drop chatbot builder like Rasayel.