According to a recent study, 75% of banking customers rate their financial provider’s performance as falling short on financial goals. Banking and financial services leaders have been taking this problem head on with an AI-first approach to reimagining customer engagement. They are creating best-in-class personalized customer journeys by digitizing services, using virtual channels, leveraging machine learning (ML) models, and integrating back office and customer-facing operations. By executing transactions, resolving inquiries, analyzing customer data, and embedding analytics within customer journeys in near real time, innovation leaders are fast-tracking customer transaction requests and service queries.
Advances in artificial intelligence and machine learning have made it possible for banks and financial service providers to mine data for insights to address customer pain points. Leveraging AI and analytics to deliver intelligent servicing along with superior experiences enables them to step up customer satisfaction and loyalty.