As AI continues its evolution, the future of user experience is being revolutionized by smart chatbots. These chatbots are now able to perform complex tasks and provide essential information through a quick chat. Developers can create these smart bots using Watson Assistant with Natural Language Understanding to provide a meaningful dialog with users. In addition, developers can integrate chatbots with other services to finish complex tasks when prompted. This provides a complete user experience.

These smart bots can be adopted by developers in banking institutions to perform essential services such as transferring money for a user to a recipient. The Real-Time Payments service on IBM Cloud makes this possible without the use of a wire transfer or a third-party. As soon as the user tells the bot to send money, the bot sends money and updates the balances in both accounts instantaneously.

In this code pattern, Real-time payments with a chatbot, we create a chatbot as part of a user banking experience. Once the user prompts the bot to send money to the recipient, the bot will perform the transfer and inform when the transfer is complete. In addition, the chatbot can provide account and transaction information when prompted. This bot is made possible through Watson Assistant which takes in natural language input and provides a meaningful dialog. This is done by classifying the intents and entities in the input then providing a response. The Natural Language Understanding service is used to pick up specific entities mentioned in the conversation, such as who to send the money to.

Once the data is collected and interpreted by the bot, the Real-Time Payments service can perform the task of sending money or providing bank account information. The Real-Time Payments service allows the user to create a token for their bank account and add recipients through their tokens. In this situation, a token could be a user’s phone number or email. Once a recipient is added by the user, they can transfer money in a secure way directly to the contact’s account without a third party. The Real-Time Payments service leverages IBM Financial Transaction Manager which is trusted by the world’s largest financial institutions to meet their payment processing needs. As this pattern demonstrates, once the Real-Time Payments is integrated with a chatbot, the process becomes fantastically straightforward.

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