10.15.2018

Meta Messaging: Chatbots IM Chatbots

10.15.2018

Chatbots are learning a new trick: Instead of simply interacting with people, they are starting to speak to each other.

Within the past nine months, bot-related messaging volume has grown from zero to an estimated 10% of the total message volume on Symphony’s open-source messaging platform, David Gurle, founder and CEO of Symphony, told Markets Media.

David Gurle, Symphony

“We now have more than 600 chatbots in production and several hundreds of them in development from our customers,” he said. “Those chatbots are a proxy for a range of business application. Moreover, in some organizations, chatbots represent 55% of the total message volume that we have seen within some clients.”

Gurle initially estimated that it would take the Symphony users base until 2020 or 2021 before they would start to build applications using the platform’s architecture.

“I thought first people would focus on the collaboration use case, straighten it out, and then start building applications on top of the platform,” he said. “I guess I underestimated the need for simplicity and automation, as well as the cost pressure that exists in the industry.”

Although most chatbot traffic with human users represents the vast majority of chatbot-related messaging traffic, chatbots are beginning to communicate between each other.

It is too early to estimate just how much traffic chatbot-to-chatbot conversations, four banks demonstrated their chatbot-to-chatbot connections during a recent Symphony event earlier this month.

Deutsche Bank and BNY Mellon have connected their back office chatbots, Debbie and Selina respectively, to communicate trade resolutions, trade allocations, and trade-break denials, according to Gurle.

He cited a second instance where AllianceBernstein and the Royal Bank of Canada have linked their front offices via Abbie and Arthur, respectively.

The growing client interest in chatbot-to-chatbot communications has sparked a conversation within a Symphony working group on developing a standard lexicon to simplify the process.

Gurle expects that a resulting standard would be closer to an extensible markup language than to other financial messaging protocols, such as FIX or ISO 20022, due to the need size of the needed vocabulary.

“We are kicking this off with the buy- and sell sides,” he said. “They already have standardized a common set of hashtags that define the vocabulary that people can exchange with each other.”

The capital markets media outlet @marketsmedia covered Chainlink x ICE today

ICE, Chainlink to Bring FX & Precious Metals Data Onchain

“Marks a significant milestone on the pathway towards the mainstream adoption of onchain finance.”

Celebrating women shaping European finance
European Women in Finance Awards deadline is Aug 23
#WomeninFinance #Finance #WIF
Nominate here: https://www.jotform.com/form/250276204100339

Load More

Related articles

  1. BlackRock's Raffaele Savi says AI will open the door for applications in less liquid asset classes.

  2. This helps users interact with securities finance and short interest insights more efficiently.

  3. They aim to develop AI-driven products that are faster, smarter, and easier to use.

  4. Valerie Szczepanik will lead the agencywide effort.

  5. A suite of digital workers will deliver a step change in the way banks conduct AML compliance.

We're Enhancing Your Experience with Smart Technology

We've updated our Terms & Conditions and Privacy Policy to introduce AI tools that will personalize your content, improve our market analysis, and deliver more relevant insights.These changes take effect on Aug 25, 2025.
Your data remains protected—we're simply using smart technology to serve you better. [Review Full Terms] | [Review Privacy Policy] By continuing to use our services after Aug 25, 2025, you agree to these updates.

Close the CTA