Mybank is offering new experiences to users of the financial system. One of its greatest achievements is the implementation of Mibanco through WhatsApp, a safe, fast and efficient interaction with clients and non-clients to answer questions, open savings accounts and even make loans in minutes. María Cecilia Carranza Riofrío, leader of the Mibanco Digital Portfolio, explains the characteristics and benefits of this tool.
What is Mibanco via WhatsApp?
It is a financial service and transaction channel on WhatsApp and managed by agentic artificial intelligence (AIA). It is not a chatbot like the ones we all know, where you have a menu and you must choose an option, but it is a conversational experience in which the user can ask questions, receive answers, interact and even contract financial products. The IAA will understand the user’s intention, will speak to them in their language and, through a conversation, will resolve any doubts they may have.
What type of queries can I make?
We have information about Mibanco products and services: savings, loans, exchange rates, insurance, but also all financial education information. Any user could ask for advice for their business through my bank on WhatsApp and we will give it to them without having to be a Mibanco customer. AI is capable of identifying if the user is not being served as expected and can refer them to a human agent. We have a pool of human agents who are ready to talk to clients, who can also request it and will automatically talk to one of them.
How did the idea of this highly personalized channel come about?
It was born for three reasons. The first, because Mibanco wants to be where the entrepreneur is. 97% of entrepreneurs in Peru today use WhatsApp as a key channel to connect with their clients. They buy, sell, manage, they are on WhatsApp all the time. Second reason, we want to know more about entrepreneurs and that is precisely what AI gives us. Every conversation and every interaction involves getting to know the person on the other side even better. Thirdly, because we want to complement the management of our business advisors.
There is a certain reluctance to give information. Does this channel guarantee the security of users?
Of course. We have built this platform together with our partners Amazon Web Services and Jelou, but above all accompanied by our technology, architecture, risk and cybersecurity areas. In such a way that we have the security standard of the financial system and we can guarantee that it is a safe and reliable solution for our clients.
How to confirm that we are using Mibanco WhatsApp and not a fake one?
First, because we have the blue Goal check. The second thing is that you can check the number on our website. We have a whole banner and section where we tell them what it is about, what benefits they have, and we put the super-large number. Additionally, in March we are going to do a massive launch to communicate our number and generate even more trust in users. We are preparing for the chat to be open to the public.
Today could I connect with you through this tool?
Today you could open a savings account in five minutes at Mibanco via WhatsApp. What we have done is open the channel; Be ready to serve whoever wants to enter. We have sent some communications to Mibanco clients and also very specific communications through social networks and media advertisements so that little by little we become known.
And apply for loans?
A few weeks ago we managed to disburse the first 100% automated loan within a WhatsApp conversation. The truth is that it was a super important milestone for Mibanco and I think for the financial system as well. Since then we have been granting credits to our clients. In approximately five to seven minutes they have the money in their savings account ready to invest in their business.
How do they check who they are talking to? There could be impersonations.
The first thing we do is identify the phone number versus the DNI for the issue of loans, but the key is to go through a biometrics process where you take a photo of yourself and your DNI on both sides. We are going to compare those photos and consult with Reniec, who is the one who guarantees that it is you.
What is the maximum loan amount?
Now we are with a controlled campaign and with small amounts, but the idea is that little by little we can reach what your credit evaluation allows. One of the reasons why we have built Mibanco through WhatsApp is because we want to be where the entrepreneur and Peruvians in general are. Imagine that a business owner needs to draw on his line of credit. Having to close the business and leave clients prevents this, but now between client and client you can take a few minutes to request a loan. This is financial inclusion: bringing the bank to the WhatsApp conversation where the entrepreneurs are.
How many users do you expect to have?
Our goal is to close 2026 with 1 million users chatting on Mibanco on WhatsApp, receiving information and financial education. Our aspiration is to become a channel for disbursements and also for the placement of important products for Mibanco.
