Singaporean bank DBS has launched its newly-enhanced, generative artificial intelligence ( GenAI )-powered virtual assistant BS Joy for corporate clients, which provides clients with 24/7 access to a virtual agent with the ability to address their unique corporate banking queries.

DBS Joy, originally launched in 2018 as Asia’s first corporate banking virtual assistant, provides, the bank notes, instant answers to frequently asked queries and common requests, enabling customers to have much more detailed and personalized responses.

For complex servicing needs, the virtual agent automatically connects users to a customer service specialist, who is, in turn, equipped with a digital co-pilot, which helps them provide more tailored support to clients. Users can access the service via the bank’s Ideal digital banking platform.

Since early trials of the new features started in February, the virtual assistant, the bank points out,  has managed over 120,000 unique chats. About 4,000 corporate clients, the vast majority of which are small and medium enterprises ( SMEs ), now use the service every month. Usage is expected to grow as awareness of the enhanced service increases.

In addition to quicker responses and shorter wait times, users of the virtual agent, the bank shares, are also more satisfied with their experience, with customer satisfaction scores improving by over 23%.

This initiative is the latest in the bank’s efforts to blend the best of machine intelligence with human empathy and intuition and drive enhanced and trusted customer experiences.

Developed in-house, the virtual agent integrates large language models with the bank’s proprietary knowledge base. This enables the bank, it says, to move beyond pre-programmed static answers to dynamic responses that are conversational and contextual.

“In line with our commitment to be an AI-enabled bank with a heart,” adds Chen Ze Ling, the bank’s group head of corporate and SME, “our latest iteration of DBS Joy represents a major leap forward as it offers instant and intelligent support to customers, while enabling our SME relationship managers to deliver more focused and value-added engagements to clients.”