AI is about leveraging technology to amplify people, not replace them. Repetitive tasks can be automated. Knowledge and know-how captured across people and systems can be put back inside these systems to drive even greater value. Doing so will free you to be more creative and leverage the time to think about the even bigger opportunities that lie ahead.
Engage your customers without increasing costs. Reestablish trust through personal interactions (at scale) and drive innovation with more confidence and less risk. AI presents a massive opportunity for financial services organizations to revolutionize the way they gather information and interact with customers.
Make Life Easier for your Customers
Whether the customer is at home, driving, or in another time zone traveling, they’ll be able to reach the services via text or voice and interact with the system to get the answers or solutions they are looking for in seconds. Imagine replacing today’s experience where a customer calls their bank, struggles through the interactive voice response systems, following all prompts only to be directed to a person a period later. Bots allow the customer to speak normally and converse with chatbots, even handling a change in context during the conversation. They’re powered by machine learning and as such, they can adjust and improve customer interactions.
Examples of value-added customer engagement
- Self-service chatbots: Users text questions and the chatbot responds with the best resources
- Automated flagging/detection of events: i.e. reminder of upcoming unpaid bill
- Voice/Text initiated transactions: i.e. “Pay Enbridge bill in the amount of $X, email confirmation”
- Suggest other services
Empower your Employees
AI crunches data in real-time to provide users with tailored recommendations and identify insightful correlations. There are many ways AI using bots can empower employees to engage customers in the financial industry:
- Bots can provide automatic suggestions to improve engagement, suggest upselling relevant solutions based on data and the context of the conversation
- Quickly provide a 360 view of customer products, relationships and preferences, and needs
- Provide alerts to the advisor if account or behavior and live data point to risks
- Arrive at data-driven decisions faster, suggest products/solutions tailored to customer demographics, age group, or current life situations
AI is about harnessing humanity’s collective knowledge and experiences to make better decisions and enrich how we understand and relate to each other and our shared world. It’s about making life easier with intelligent services that anticipate our needs, organize our environment, and perform time-consuming repetitive tasks, freeing you to be more creative and productive.
Source: https://community.dynamics.com/b/msftdynamicsblog/posts
Global iTS is a leading Microsoft Dynamics 365 ERP and CRM Partner, headquartered in the UK. With 300+ clients, successfully proven implementations, an excellent support system by our experienced domain specialist, and a good track record of customer retention. Also, it has a strong foothold and customer base across other GCC countries (Bahrain, Saudi Arabia, Oman, Kuwait, UAE, and Qatar).
Global iTS is mainly into the specialized requirements in Financial Services and Insurance sectors focusing on the Digital Transformation journey in Retail Banking, Commercial Banking, Insurance Providers, Private Equity, and Investment Banking by bringing Artificial Intelligence, Machine Learning, Blockchain, and Robotic Process Automation technologies and enhanced their productivity and profitability. We bring in over 15 years of international expertise to digitally transform any aspect of a client’s business.