Chatbot Developed for Ukrainian Credit Unions
2024-09-26As part of its commitment to advancing digital technology in credit unions, the USAID/WOCCU Credit for Agriculture Producers' (CAP) Project developed a chatbot for credit unions, utilizing one of the most popular messaging apps in Ukraine.
Launching this service enables credit unions to enhance the quality of service for their members and serves as a significant step toward expanding online offerings.
The chatbot provides members with convenient, 24/7 access to information on demand, and allows users to receive essential information about the credit union's activities, products and terms. Authorized users can view details about active agreements and make loan repayments or deposits through the payment service provider's page.
In August 2024, the CAP Project successfully conducted two pilot integrations for credit unions, and preparations are currently underway for the full launch of this service. This solution is available to credit unions with comprehensive information systems that support API integration.
Utilizing funding provided by Worldwide Foundation for Credit Unions through its Ukrainian Credit Union Displacement Fund, several market participants updated their systems this year with assistance from World Council of Credit Unions and the CAP Project, enabling them to implement this innovative service.
Key features of the chatbot provide authorized users with:
- access to statistical information on active loan agreements.
- access to statistical information on active deposit agreements.
- the ability to make loan payments.
- the option to make deposits.
The chatbot also features an FAQ section for common inquiries, including:
- Contact information for the credit union.
- An option to receive notifications and updates.
Even non-authorized users can obtain information through the chatbot on how to become a member, or update their phone number if they are already a member.
The development of these chatbots is one of the final initiatives of the CAP Project, which ends on September 30, after more than eight years.
WOCCU, however, continues to work with Ukrainian credit unions and their members, through the new USAID-funded GROW Project.