Banco do Brasil launches financial transactions via WhatsApp

The phased implementation sees the automation of 11 services through the messaging platform.

Brazil's oldest bank has introduced a series of transactional services to consumers through WhatsApp.

Banco do Brasil (BB), the country's largest bank by assets, is rolling out 11 types of transactions via the messaging tool, including access to balances of current and savings accounts, money transfers, mobile phone top-ups and generation of credit card statements.

The phased rollout will see the introduction of the WhatsApp portfolio to 500,000 clients a week. The government-owned bank expects that the entire client will be able to use the services within the next few weeks.

In order to use the service, clients have to save the bank's telephone number and start a conversation. For balance checking, a confirmation code will then be sent over to the customer via push or SMS. For other transactions, the customer's passcode will be required.

According to the bank, the transactions are powered by an artificial intelligence platform and have end-to-end encryption. If there is a need for human intervention, the customer will be directed to an agent.