Our Tips From The Experts series highlights some of the top experiences on the Messenger platform. These businesses and developers have approached the platform in a unique and interesting way, and are seeing success during the early stages of the Messenger platform. Next up is RemitRadar, a financial technology company focused on developing countries.
In 100 words or less describe what your bot does.
RemitRadar’s aim is to improve the lives of billions of people in developing countries by offering free financial education through our AI to the growing market of people interested in money transfers and remittances. As people come to us for information, we’re able to collect critical information about these developing communities and compiled it into a reliable database of information for NGOs, academics and international bodies to use in their research for the common good.
Who are you trying to reach?
The three billion people worldwide who are interested or participating in money transfers and remittances.
What’s the killer feature/interaction?
We understand that word of mouth is a very important factor in the way that people in the developing world communicate. RemitRadar is designed to replicate word of mouth interactions; we want RemitRadar to be accessible, easy to use and intuitive.
We have developed a system to analyze the dialogues with our RemitRadar bot in detail, which will then send/make suggestions to share the bot link with with the intended beneficiary ( the person to whom the money will be sent ) in order to intelligently direct the recipient/beneficiary to the right physical location and where appropriate provide added-value offers to the recipient. As an example, when someone sends you 100 USD and you receive 100 USD + 100 Mexican Peso and an “added-value offer” like shopping discounts or free mobile top-up vouchers, this highly positive experience creates a currency or a story that individuals will share with friends.
How did you design your bot?
Understanding how people interact with each other interpersonally and linguistically is the first step in creating an AI solution that is capable of delivering a useful and authentic experience.
RemitRadar studies one-on-one dialogues to be able to distill the salient elements that lead to successful conversations. This focus on understanding language allows us to constantly improve the richness of the interactions in RemitRadar. In fact, RemitRadar can now interact with people in three major languages (English, Spanish and Russian) with more languages set to follow soon.
What have you learned since launching? Any surprises or successes you want to share?
AI has an accelerated learning curve that can be truly humbling. It needs constant mentoring and guidance so that it can better handle its growing knowledge. One thing that surprised us was RemitRadar picked up the fact that people thought AML stood for Aston Martin Lagonda, not Anti Money Laundering.
What will you build next?
We have a few experiences we’re working on to ensure RemitRadar is building meaningful interactions for our audiences:
- Sustainability is a core value for the company. That’s why we’re expanding relationships with companies that share our views on people, profit and the planet to bring about meaningful change in these areas.
- We’re working with CURE to help direct people suffering from Congenital Talipes Equinovarus (CETV) to local clinics for free treatments.
- We’re partnering with Allianz in our effort to help people find affordable, quality products in developing countries.
- We want to make it easier for our users to have more choice and access.
- We’re going to open up the ability to access money auctions via Messenger
- We’re also planning on adding auction functionality to give our users the option to bid from a variety of money transfer providers, potentially saving consumers up to 30% in fees.
Messenger has proven to be a powerful conduit for community outreach. In just over two months, RemitRadar is handling 50K daily requests via Messenger, and that number continues to grow exponentially. We think that’s due to the fact that Messenger is incredibly easy for people to adopt. This means that sending or receiving money in Messenger is as easy as chatting with a friend. There’s no overt or onerous process that can sometimes be a barrier to adoption. Moreover, Messenger makes it easy to distribute content through a digest format that is both high quality and incredibly functional. Our growth is also due to our bot’s ability to handle a high volume of requests, freeing us up to focus on the projects that matter.