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20, July 2017

Banking on bots: The new digital disruption is here

The rise of bots into the service ecosystem is enabling enterprises to reimagine the way they deliver customer experience. By now, you must have heard it through the grapevine, irrespective of which customer service industry you belong to.  While some still consider it to be a case of setting the cat among the pigeons in their workforce optimization, many forward-thinking enterprises are investing in AI-powered technologies such as virtual chat assistants. And it isn’t just because everyone else is talking about doing it too. They see the true value in its adoption, and they are able to harness its unified and proactive ecosystem to meet the growing demands of customers.

 

At the heart of this innovation is the Banking and Financial Services sector. A recent Global Consumer Banking Survey has shown that “Innovating customer experience like Fintechs is one of the four our critical areas where banks must focus their investments”. According to Gartner, “An estimated two-thirds of consumers in developed markets will use virtual personal assistant services”.

Why should banks be any different from the other service providers that are integrated into the lives of customers? Money matters, right? Whether offering loans assistance, up-selling credit cards or requesting for balance details, customers – especially millennials – expect the experience to be as rapid-fire, consistent and meaningful as an online shopping transaction or an app purchase from an online mobile store. Otherwise, they may not be as loyal to their bank of choice.

 

Servion’s Virtual Chat assistant comes equipped with the human-like ability to cater to the specific needs of banking customers while harnessing the power of automation. It simulates a live agent – from initiating customer conversations to delivering information and taking actions on their behalf. Backed by strong IP-led CX technology platforms, it can also detect customers’ emotions, perform transactions, and augment context and personalization while elevating their overall banking experience.

Let’s take a deeper look at how Servion’s Virtual Chat assistant can ensure simplified and context-rich conversations between banks and their customers.


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