In a mobile-first world, businesses are now facing up to a new reality that the overwhelming majority of their consumers are face down into their smartphones using messaging to communicate. But they have zero interest in downloading yet another mobile app that will sit on page two of their home page. Capital One is continuing on their quest to be where their customers are and embracing technological change.

Eno is a chatbot that helps Capital One customers manage their money by texting in a conversational way. It leverages artificial intelligence to understand what users need. You can get a quick update on your accounts by texting Eno things like “What’s my balance?” or “How much credit do I have?” and it will provide the information you need instantly. You can also pay your credit card bill by simply texting “Eno, pay my bill.”

As virtual assistants and digital tools continue to become a larger part of today’s world, consumers’ expectations of what a bank can and should do are also continuing to evolve. People know longer think of a bank as an institution that “holds” your money for you until you need it. More and more consumers are expecting banks to take on somewhat of a mentor role, proactively recommending ways that customers can be saving more, spending more efficiently, and teaching consumers how to leverage the latest technology (chatbots, virtual assistants, applications, etc.).

Ken Dodelin leads Capital One's intelligent, AI-powered virtual assistant and chatbot products, digital messaging products (email, SMS and push notifications), and content management. In collaboration with a talented group of product, tech and design professionals, they build innovative products that drive simplicity and value to customers and Capital One.

Regular listeners of the show will remember that in 2016, Ken talked about being the first bank to offer an Amazon Alexa skill to provide customers with financial account access. Here in 2017, I invited Ken back onto the show to discuss the launch of the first natural language SMS chatbot from a U.S. bank.