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The Benefits of Chatbots: an Interview with Researcher and CTO Avi Ben Ezra

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There has been a notable, sustainable increase in the use of chatbots during the last couple of years. They have been adopted into many systems which were formerly operated by humans. What these chatbots do is that they provide a new way for businesses to interact with their target audience. Therefore a lot of chatbot strategies will make use of the popularity of messaging applications. They will also make active use of the accelerated development of many types of sensors. These systems will become more effective with the emerging of new technologies and by implementing improved AI systems. For a long time, social media was the preferred way for people to interact with one another. According to statistics messaging apps are now leading social media platforms by a substantial margin.

We recently interviewed Avi Ben Ezra, the CTO of SnatchBot. Below are his answers to some related questions:

People ask what is a chatbot and why is it making such waves?

A chatbot is simply a program which is governed by AI and certain rules. It is able to simulate a real-life conversation with humans by using a chat interface. To put it in simpler terms, a chatbot is simply an AI service which is capable of having a two-way conversation. It can speak to you just like you speak to your friend or family member. In order to increase the effectiveness of chatbots, they are based on machine learning in order to allow them to collect conversational structures and nuances which can then enable them to simulate human conversations. They are also able to react to requests which can either be written or spoken and they can respond to those questions and also provide the requested services. They are not only reacting to commands they actually understand language usage. This is because chatbots use artificial intelligence. The result is that over time after frequent conversations with humans they can become very proficient and increasingly intelligent.

Most people believe that the use of chatbots is a relatively new development. However, the research behind this technology goes back all the way to the 1950s. Many businesses have already been introduced to the extraordinary benefits of artificial intelligence and chatbots. There is also a tremendous amount of information available which will clearly show industries how these chatbots can contribute to just about any business.

What are the financial considerations?

Those businesses who are planning to implement a full functioning chatbot may be surprised to learn that such a system is significantly cheaper than a cross-platform app. It is also substantially cheaper than employing employees for each separate task. There is already ready-made software developed by Facebook, Microsoft, and various other IT companies which can be used by businesses. One of the big advantages of chatbots is the fact that they are completely automated AI solutions. According to Ben Ezra, they enable businesses and organizations to handle many customers at the same time and also simultaneously. What businesses need to consider are when they employ chatbots which supplements the services provided by your human resources this can result in a huge saving on salaries while eliminating all human error. Indeed tax savings are also significant: as we’ve seen in countries like France, Belgium and the UK, where payroll taxes are steep. Then, off course, the cost to the environment is a factor: staff driving to work and back creates a big carbon footprint. So reducing carbon emissions and taxes, is something AI and automation is helping with.

What about access to global markets?

Regardless of the standing of your particular business whether it is a local brand or a very well-known international brand, you should note that chatbots have the ability to address all of your customer care problems 24 hours a day and 365 days a year in a variety of international languages. This can provide your business with unique opportunities to expand. With the proper implementation of chatbots, you can soon have a significantly larger market presence. You will be in the fortunate position that you do not have to rely on human resources for your customer services and other queries because your AI chatbots will be ready to take care of that side of the business.

How do chatbots handle lead generation?

Your chatbot has all of the necessary consumer information to allow it to provide consumers with personalized messaging. This is important as consumers proceed along the buyer’s journey. Your chatbot could be programmed to ask the consumer a whole range of related questions which could close the deal and possibly generate a new lead for your business. With a properly implemented chatbot system, the marketing flow is always in the right direction and that can drastically increase conversion rates for your business. With an efficient AI system, it is possible to generate potential customers, your chatbot will automatically notify the sales team and furthermore, it is also able to assist management in determining all of those unqualified leads. This is done through identified KPI’s which look at things such as resources, timeline, relevancy, and budget. This can really help the business to avoid spending time with leads that might go nowhere. We saw one French business integrate this with their Google Ads account, where lead generation was on autopilot: the marketing tream reported that despite ad fraud and invalid activity on the PPC side, the chatbot was still good at helping them improve their ROI.

What about learning from consumer data?

We have already discussed how chatbots can be excellent communicators and they handle consumers very well. Then there are critical communications where they generate valuable feedback simply by asking general questions. That information allows your business to make a whole range of improvements and adjustments to your current products or services. It can also provide you with valuable insight which can be used to optimize your website. You will be better prepared to do important adjustments to all of those low converting pages. Many businesses have webpages which are generating a substantial amount of organic traffic. Unfortunately, the conversion rates are not that good. However, with your chatbot, you can now interact with customers visiting that website and that chatbot can do a little survey which will quickly determine why people leave the website without purchasing anything.

How can AI chatbots increase customer engagement?

Many business owners have learned the hard way how critically important it is to keep your customers engaged with your brand. A lot of research has been done regarding customer engagement. It has been determined that those businesses who frequently interact with their customers on social media can increase customer spending by as much as 40%. There can be no doubt that social media is a very effective platform but by making use of chatbots a business can make the interaction so much more attractive especially if the chatbots have been programmed with an excellent sense of humor. Everyone familiar with conventional customer services will know that such a system generally receives less information from a customer than it will provide. This is not the case when it comes to chatbots. These intelligent systems will give only a little information and will then proceed to lead the interaction according to the consumer input which is received. The advantage of this approach is that chatbots will not fall into the human error of boring the customer, inundating them with unnecessary information. However, they will continue to respond to the customer presenting additional information as the conversation progress. The result is that the customer remains on the website for longer and they also learn a lot more about the business.

Are chatbots capable to stimulate proactive customer interaction?

In most business interactions there is mostly a passive customer interaction because most businesses will only respond to the consumer after they had been contacted. It is only very occasionally that businesses will initiate such communications. The problem is that most businesses are engaged in a highly competitive market and furthermore they are in a situation where they have millennial’s as customers. The simple fact of the matter is that acting passively is a luxury that no business can any longer afford.

How will chatbots make the business available 24 hours a day?

The issue relating to customer service has been researched very extensively over the last couple of decades. It is now a well-known fact that customer service is critically important to the success of any business organization. It does not matter what the scope of your business is, whether it is local or international. It is very important to have a 24/7 customer service department. When this is done correctly it can have a very positive impact on the satisfaction of your customers.

Once again businesses can benefit tremendously from the use of chatbots. It is entirely possible to get well-programmed chatbots to provide consumers with automated answers to a whole range of questions. That information can then be forwarded to an actual human being which can then provide a suitable solution for that situation. In this way, a lot of time can be saved by customer service officials and this allows them to give attention to more important issues while leaving the simple tasks to chatbots.

What about vital customer assistance?

A very interesting fact has emerged recently which showed that over 80% of online shoppers are in need of guidance and support during the online shopping process. This is why your business will have to be ready to help your customers to understand which of the products is best suited not only to their budgets but also to their particular needs. Ironically in many instances, online shoppers are unable to locate the things which they are looking for. They may find the navigation on your website to be complicated. They may have questions regarding payments, registration, delivery, checkout procedures or they may simply require more information relating to a specific product. For all of those things, a chatbot will always be the best answer and the best solution.

Remember though, that many organizations are hostage to card fraud issues when outsourcing. Well, we sought to eliminate that by increasing our R&D spend on payment processing that works without human intervention.

Conclusion

Chatbots have, in a relatively short time since they have been introduced, provided businesses and corporations with tremendous benefits. They have increased productivity and have reduced unnecessary overheads, cut taxes and carbon emissions, clamped down on card fraud mafias that infiltrated call centers – and freed up humans to do the jobs they love more. They have made businesses more efficient and they have drastically improved customer service. It goes beyond business: a hospital, police station,  The evidence speaks for itself, chatbots is something which businesses can no longer afford to do without.

Suggested reading: Follow weekly news by Avi Ben Ezra or access Research released by Avi Ben Ezra.

Youtube video A vision of the future, by SnatchBot:

Michelle has been a part of the journey ever since Bigtime Daily started. As a strong learner and passionate writer, she contributes her editing skills for the news agency. She also jots down intellectual pieces from categories such as science and health.

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Business

Remote Professionals Getting More Value for Their Work Thanks to Borderless Banking

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Not too long ago, the idea of working remotely from an island in Thailand or a co-working space in Berlin sounded like the kind of fantasy only tech moguls or backpacking freelancers could afford. 

Fast forward to today, and it’s as good as a global reality. Millions of professionals have cut the cord from traditional office life in exchange for flexibility, freedom, and a work-life balance that fits their personal rhythm and not their employer’s timezone.

However, as remote work has reshaped how people earn a living, it’s also pointed out the existing limits to most of the world’s financial systems. Traditional banking simply wasn’t built for a workforce that’s always on the move, operating in multiple currencies, and getting paid across borders. 

Thankfully, that’s where borderless banking like Black Banx have proven vital, and has quietly transformed the way money is managed for people vacationing and working overseas alike.

The Rise of the Remote Work Economy

Remote work isn’t just a pandemic-era trend that faded with Zoom fatigue—it’s become a defining feature of the modern workforce. A recent survey revealed that over 39% of Gen Z and Millennials planned to live and work abroad for extended periods this year, many staying six months or more in a single location. That’s beyond a short trip, and can be considered as good as a sabbatical with a substantial lifestyle shift.

According to recent estimates, the digital nomad economy now also contributes as much as US$787 billion annually to the global economy. And this isn’t just entry-level gig work. A third of digital nomads earn between US$100,000 and US$250,000, while another third take in US$50,000 to US$100,000 annually. 

It is indeed evident that the manner in which many make a living has changed. Unfortunately, most financial systems haven’t kept up.

Where Traditional Banks Are Still Falling Short

For those who have ever tried to open a bank account abroad or receive payment from a foreign client, they already know the drill: the paperwork is endless, delays are frustrating, and the fees? So much to do, even for the smallest amounts of money.

Just to name few of the hurdles remote workers still face with conventional banking:

  • Account setup restrictions: Need proof of residence, tax IDs, or a local job offer—things many digital nomads simply don’t have.
  • Slow international transfers: Payments can take days to process, which is a nightmare when rent’s due.
  • High foreign exchange fees: Currency conversions often come with steep, hidden costs.
  • Limited multi-currency support: Most banks still force users to operate in a single currency, making financial planning chaotic at best.

And perhaps most tellingly, many banks have digitized their operations but haven’t personalized their services. According to Accenture’s 2025 Banking Trends Report, while digital transformation has improved efficiency, it often sacrifices the customer experience. That’s not great news for people who live outside the lines.

Borderless Banking for Professionals Across the Globe

The concept of borderless banking goes far beyond wiring money internationally. Fundamentally, it’s also about being able to eliminate the friction between people and their money, no matter where they are in the world, and maintaining an ecosystem where geography, bureaucracy, and currency don’t stand in the way of financial freedom.

A working example of this is Black Banx, a Toronto-based fintech founded by German billionaire Michael Gastauer. Since launching globally in 2015, it has grown to serve over 78 million clients in 180+ countries as of Q1 2025, proof that people take to digital banking solutions when it is accessible, affordable, and is useful in just about any locale.

In the first three months of this year, Black Banx had also earned US$4.3 billion in revenue and US$1.6 billion in pre-tax profit, more than double from the same quarter the previous year and showing it has consistently delivered tangible value to global customers—remote professionals included

How Borderless Banking Maximizes Value for Remote Workers

1. Instant Account Access—No Strings Attached

The times of hunting down local branches or collecting endless documents just to open an account are finished. With borderless banks, users can open an account in minutes using just a photo ID—no proof of address or income required. That’s a lifesaver for anyone living outside their passport country or hopping from one location to another.

2. Multi-Currency Mastery

Managing money in multiple currencies used to mean juggling several accounts—or worse, losing money on conversions. Borderless platforms like Black Banx support 28 FIAT currencies and allow real-time currency conversions at competitive rates. That means remote workers can:

  • Invoice clients in one currency
  • Spend or save in another
  • Hedge against local currency fluctuations
  • Avoid excessive conversion fees altogether

3. Seamless, Real-Time Global Payments

Getting paid late, or paying others late, isn’t just inconvenient; it can damage relationships and disrupt your cash flow. With real-time payment support, remote workers can receive funds instantly, no matter where their clients are. This is particularly valuable for freelancers and entrepreneurs juggling multiple contracts across time zones.

Plus, bulk payment features and API integration streamline processes for those running teams or businesses.

4. Built-In Crypto Options

It isn’t surprising that many digital nomads are already deep into crypto. Whether it’s for investment, faster transactions, or avoiding traditional finance red tape, crypto is becoming essential.

Since 2016, Black Banx has allowed users to send, receive, and convert crypto (like BTC and ETH) within their accounts. That integration saves users from having to manage separate crypto wallets, and adds another layer of flexibility to their financial toolkit.

5. Secure Transactions

Remote workers often log in to work from cafés, coworking spaces, and airports, to name a few. Of course, this flexibility of being able to work almost anywhere should never come at the cost of security. Borderless banks like Black Banx use end-to-end encryption, AI fraud detection, and two-factor authentication to keep accounts safe from risky elements.

Financial Freedom, Not Just Convenience

Perhaps the most overlooked benefit of borderless banking is the freedom it provides. Not just to access money, but to fully participate in the global economy. For millions of professionals in underbanked regions like Africa, Latin America, Southeast Asia, borderless banking has become a gateway to financial inclusion and a way to take on opportunities that typically wouldn’t be available to them if not remote.

By removing barriers to entry, platforms like Black Banx empower underserved individuals to both take control of their finances and increase their earning power by working with companies from higher paying markets. This democratization of finance isn’t just good for individuals, it’s good for the global economy as a whole.

As Black Banx CEO Michael Gastauer put it: “Our multi-currency solutions enable businesses to tap into global talent without worrying about payment complexities. We make cross-border transactions as seamless as local ones.”

The Road Ahead

By 2030, the number of digital nomads worldwide is expected to soar past 60 million, according to the Forbes Technology Council. That means tens of millions of workers will be navigating foreign currencies, time zones, and financial systems—all while expecting the same seamless experience they’d get at home.

Indeed, remote professionals aren’t just looking for places to work—they’re looking for systems that work for them. In a lifestyle built on flexibility, traditional banking is proving too rigid, too slow, and too expensive.

Borderless banking services like those offered by the likes of Black Banx, on the other hand, offer exactly what today’s global workforce needs: instant access, multi-currency support, real-time payments, crypto integration, and enterprise-level security—all in a streamlined experience.

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