Danish challenger bank Lunar says GenAI chatbot to handle 75 per cent of customer calls

The Danish challenger bank Lunar says its GenAI-powered voice assistant will handle around 75 per cent of customer calls over time.

Lunar, which has over 950,000 customers across the Nordics, launched its new chatbot today, hoping to improve the customer service process, but says the move will not lead to job cuts.

The challenger bank is one of several fintechs, including Klarna and Bunq, which are using GenAI to help streamline their customer service offering.

Lunar’s voice assistant moves beyond traditional voice support systems by using a voice native AI model instead of the conventional voice-to-text-to-voice approach.

Kåre Kjelstrom, CTO, said: "The speed of replies will be better. It is available also 24/7, 365, so you call at 3am in the morning, it will still be available”.

Lunar, last valued at $2.2bn, says the bot has “advanced conversational abilities, including handling interruptions, repeating information, and managing more natural dialogues”.

Lunar customers will still have the option of talking to a human customer agent.

Kjelstrom added:

“The AI is able to handle the more basic things at this point. As soon as customer queries become more complicated, humans are involved.

“But it is also the case of those who simply don’t want to talk to an AI. It is still early days and people are trying to learn this new technology and adopt to it.”

Kjelstrom said introducing the voice assistant had not led to any job cuts, but meant that Lunar was not hiring as fast.