A Comparative Study of AI-Powered Virtual Assistants in Banking: Features, Benefits, and Challenges

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Page Numbers: 190-204
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Published: Mar 19, 2025
Digital Object Identifier: 10.58578/alsystech.v3i2.5191
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Authors:
Olayiwola Blessing Akinnagbe1, Taiwo Abdulahi Akintayo2
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Olayiwola Blessing Akinnagbe
Prema Consulting, Department of Digital Banking Services and Research, Nigeria
Taiwo Abdulahi Akintayo
Soft Corridor Limited, Abuja, Nigeria

Abstract

This study examines the adoption of AI-powered virtual assistants in Nigerian banking, focusing on their features, benefits, and challenges. Through a comparative analysis of selected banks, including GTBank, Zenith Bank, and Access Bank, the research highlights key features such as 24/7 customer support, multilingual capabilities, and transaction processing. Benefits include cost reduction, improved customer service, and operational efficiency for banks, as well as convenience and personalized services for customers. However, challenges such as technical issues, low digital literacy, and regulatory compliance hinder widespread adoption. The study concludes with recommendations for stakeholders to enhance the effectiveness of AI-powered virtual assistants, fostering financial inclusion and digital transformation in Nigeria.

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How to Cite
Akinnagbe, O. B., & Akintayo, T. A. (2025). A Comparative Study of AI-Powered Virtual Assistants in Banking: Features, Benefits, and Challenges. ALSYSTECH Journal of Education Technology, 3(2), 190-204. https://doi.org/10.58578/alsystech.v3i2.5191

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Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.

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