How Financial Calculators on WhatsApp Simplify Decision-Making for Customers
The financial world can be daunting for many customers. From figuring out loan EMIs to assessing investment returns, decision-making often requires complex calculations. Financial calculators, integrated into WhatsApp through platforms like Brillion1, have emerged as a user-friendly solution. Here’s how they simplify decision-making and enhance customer satisfaction.
1. Instant Accessibility
With financial calculators on WhatsApp, customers don’t need to search for apps or websites. They can simply type a query and receive instant results within their chat window.
Example Use Case: A customer asks, “What will be my monthly EMI for a ₹10 lakh loan at 7% interest for 5 years?” The calculator provides a breakdown instantly, saving time and effort.
Example Use Case: A customer asks, “What will be my monthly EMI for a ₹10 lakh loan at 7% interest for 5 years?” The calculator provides a breakdown instantly, saving time and effort.
2. Easy-to-Use Interface
Unlike traditional tools with intimidating interfaces, WhatsApp calculators provide a conversational experience. Customers feel like they’re chatting with a friend rather than using a technical tool.
3. Accurate and Reliable Calculations
WhatsApp calculators powered by platforms like Brillion1 are pre-configured with accurate algorithms, ensuring customers receive reliable results for:
Stat highlight: According to a Deloitte survey, 58% of customers prefer tools that combine simplicity with precision in financial planning.
- Loan EMIs
- Fixed Deposit (FD) returns
- Investment growth projections
- Retirement corpus planning
Stat highlight: According to a Deloitte survey, 58% of customers prefer tools that combine simplicity with precision in financial planning.
4. Personalized Financial Insights
These calculators can provide customized recommendations based on inputs. For instance, after calculating an EMI, a bank could suggest loan options that align with the customer’s financial capacity.
Example Use Case: After a customer calculates EMI for a ₹10 lakh loan, the bank offers a promotional rate of 6.8% for existing customers.
Example Use Case: After a customer calculates EMI for a ₹10 lakh loan, the bank offers a promotional rate of 6.8% for existing customers.
5. Simplifies Complex Scenarios
Financial calculators on WhatsApp can handle advanced scenarios, such as comparing multiple investment options or calculating tax benefits for home loans.
Example Use Case: A customer asks: “What’s better: a ₹5 lakh FD at 6% for 2 years or a recurring deposit of ₹20,000/month for 2 years?” The calculator provides a detailed comparison.
Example Use Case: A customer asks: “What’s better: a ₹5 lakh FD at 6% for 2 years or a recurring deposit of ₹20,000/month for 2 years?” The calculator provides a detailed comparison.
6. 24/7 Availability
Since these calculators are part of a WhatsApp chatbot, they are available round-the-clock. Customers can perform calculations anytime, eliminating the need to wait for branch hours or customer service assistance.
Stat highlight: A survey by Statista reveals that 72% of customers prefer services that are available 24/7.
Stat highlight: A survey by Statista reveals that 72% of customers prefer services that are available 24/7.
7. Builds Trust and Confidence
By empowering customers to make informed decisions with clear calculations, banks can build trust. Customers are more likely to engage with a bank that provides transparent and helpful tools.
Example Use Case: After calculating retirement savings, the bank offers investment advice tailored to the customer’s needs.
Example Use Case: After calculating retirement savings, the bank offers investment advice tailored to the customer’s needs.
How Brillion1 Enhances Financial Decision-Making
Brillion1 integrates financial calculators directly into WhatsApp, offering banks and customers:
With Brillion1’s intuitive and secure platform, banks can provide an unparalleled customer experience while boosting engagement and trust.
- Automated Calculations: For loans, investments, and savings.
- Real-Time Assistance: Chatbot-driven guidance and suggestions.
- Customization: Tailored tools for specific financial products.
With Brillion1’s intuitive and secure platform, banks can provide an unparalleled customer experience while boosting engagement and trust.