🦘 Commbank Trials AI Chatbot For Customer Service, Harvey Norman Facing Class Action Lawsuit, Banks To Take More Accountability For Scams

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Anyways, let’s get into it!

Here’s what we’ve got in store for you today:

• Commbank Trials AI Chatbot For Customer Service

• Harvey Norman Facing Class Action Lawsuit

• Banks To Take More Accountability For Scams

Let’s have a look at the market snapshot before jumping into the news:

Commonwealth Bank Tests AI Chatbot to Transform Customer Service – But What's in Store for Employees?

Commonwealth Bank is gearing up to revolutionize its customer service with a new AI chatbot named "Hey Commbank."

This shiny new tool could potentially replace some of the bank’s call centre staff as the bank aims to lean more into AI technology.

Currently, the chatbot is under trial with employees who are customers themselves, testing its capabilities to answer questions conversationally - think Chat-GPT with a banking twist!

Powered by an innovative collaboration with Amazon Web Services, the AI Factory will accelerate the development of AI-powered services by four times, according to the bank's chief data officer.

Imagine asking the chatbot how much you need to save for a house in your desired area - how neat is that?

While the future of roles remains murky, CBA insists that the tech is here to support staff, letting them focus on more complex customer needs.

AI, here we come!

Harvey Norman Under Fire: Class Action Claims Extended Warranties Are Worthless!

Harvey Norman is in hot water after being hit with a class action lawsuit over its extended warranties that some claim are worth about as much as a chocolate teapot.

Customers allege they were sold warranties, known as Product Care, for electrical goods that offered “little or no value” since they’re already covered by Australian Consumer Law.

This legal battle could involve all purchases made between September 17, 2018, and September 17, 2024, from Harvey Norman as well as its sister brands, Domayne and Joyce Mayne.

The class action is orchestrated by Echo Law, which recently made headlines for taking on Domino’s Pizza.

Echo Law argues that shoppers who forked out extra cash for these warranties deserve compensation because their consumer rights were already guaranteed for free.

While Harvey Norman insists they’ve abided by the law and plans to fight back, many consumers are crossing their fingers for a favorable outcome.

Hold onto your receipts, folks - this could get interesting!

Scam Survivor Calls for Banks to Step Up After Losing $1.6 Million in 'Mule' Fraud

Harriet Spring is not taking her $1.6 million loss lying down!

After being duped in an elaborate scam that involved a mule account, Spring believes banks should take more responsibility and return funds to victims.

With the government working on new legislation that could fine banks if they don’t protect their customers, Spring's call couldn't come at a better time.

Mule accounts are a sneaky way scammers facilitate their crimes, making it tough for authorities to track stolen money.

Spring's scam led to her dipping into her elderly mother's home sale proceeds, and despite her concerns, her bank has denied any liability.

She argues that holding banks accountable could seriously help tackle the rising number of scams plaguing Aussies.

Another scam victim, Sunni Wan, suggests looking to the UK for inspiration on mandatory refunds for fraud victims, adding urgency to the situation.

As the litany of consequences continues to pile up, it’s clear that the conversation around bank accountability is only just getting started! 

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