AI cannot replace customer service staff: MoMo exec

AI cannot replace customer service staff, but it can give them more time to prepare and provide better care for customers, says Thai Tri Hung, senior deputy general director and chief technology officer of e-wallet app MoMo.

He was speaking at an event organized in Ho Chi Minh City Tuesday to announce the Ho Chi Minh City-based MoMo's brand positioning shift from an e-wallet to a "financial assistant with AI."

Hung emphasized the significant role AI plays at MoMo, explaining that it is the force that supports the brand’s belief in the importance of small things.

He said the company had recognized way back in 2013 that mobile technology would be the future and that the phone would be an indispensable product and that Vietnamese people would undoubtedly need to carry mobile phones when going out.

Six money management services

In its new role as a financial assistant with AI, MoMo offers six AI-rooted solutions to personalize and automate money management tasks, helping users save time and optimize costs, Hung said.

Firstly, MoMo's financial center provides an overview of personal finances, allowing users to easily track income and spending and create reasonable savings plans. Thanks to AI integration, this feature not only analyzes transactions but also provides customized financial suggestions, helping users enhance their financial health.

Secondly, with the group fund’s feature, MoMo offers an effective group financial management solution. Users can easily create a savings fund, travel fund or any other fund to share expenses and accumulate resources with family and friends. MoMo employs AI to automatically track and divide money transparently, ensuring everyone has clear information about their funds.

Thirdly, AI assistant Moni is one of MoMo's standout features, helping users manage spending through automatic analysis. Moni not only tracks and analyzes expenses but also provides alerts, suggests savings strategies, and optimizes income and expenditures based on individual financial behavior. This is a significant step forward in helping MoMo become a true financial advisor for each user.

Fourthly, with its AI-integrated bill payment feature, MoMo users can conveniently and quickly pay recurring bills. MoMo automatically identifies and reminds users to pay on time, preventing service interruptions and ensuring convenience. Additionally, AI helps predict costs and offers flexible, cost-saving payment options for users.

Fifthly, MoMo AI Protection is an advanced security feature that helps users feel secure during transactions. AI continuously monitors for unusual transaction behaviors, providing timely alerts and preventing potential fraud risks. This feature helps MoMo protect users' finances comprehensively, from small transactions to larger expenses.

Sixthly, with support from ChatBot GenAI, MoMo users benefit from flexible and efficient customer service. This virtual assistant can answer questions about transactions, explain features, and provide support in emergencies, delivering an optimal and friendly experience.