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Why do AI projects in finance fail to deliver ROI? Despite the billions poured into artificial intelligence, nearly 40% of financial services CIOs admit their AI initiatives failed to achieve positive ROI in the last year. Why is this happening? It’s not about the technology itself—it’s about strategy. Success hinges on aligning AI with business goals, leveraging high-quality data, and focusing on the right use cases.
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Top 5 Factors That Drive AI ROI Success in Financial Institution
Why do AI projects in finance fail to deliver ROI? Despite the billions poured into artificial intelligence, nearly 40% of financial services CIOs admit their AI initiatives failed to achieve positive ROI in the last year. Why is this happening? It’s not about the technology itself—it’s about strategy. Success hinges on aligning AI with business goals, leveraging high-quality data, and focusing on the right use cases.
The Cost-Efficiency of Virtual Branches for Banks
One of the main advantages of setting up virtual branches is their cost-efficiency. After all, they help you engage your idle employees, and they offer the opportunity to implement tools that boost their productivity even further, reducing the cost per case completed. In this article, we examine it in a bit more detail. We invite you to read on!
Customer Service Communication Tips for Banking
If you’re looking for customer service communication tips for banking, you are in the right place. At LiveBank, we are committed to improving customer service and banking experience by providing you with a customer engagement platform. Our experts prepared a list of tips that will help you streamline your communication with clients and achieve better results. Read on to learn more!
Omnichannel Banking Best Practices – Creating a Seamless Customer Experience
What are the best practices for omnichannel banking? If you want to implement it successfully, you need to integrate your internal infrastructure, create a single, unified customer viewpoint, and ensure a seamless transition between channels by delivering consistent customer experiences. Do you want to learn more? Then keep reading!
Customer Journey Map in Banking – Main Points and Examples
Customer journey mapping is the practice of creating a visual representation of the processes, needs, perceptions, and interactions of the customer with your business. It is crucial to improve customer service, build a customer-centric culture, and ensure the best customer experience possible. In this article, we explain how to create such a map. We invite you to read on!
The Value of Conversational AI in Banking
Conversational AI is a powerful tool in banking—sooner or later, all finance organizations will adopt it. This isn’t surprising; such technology offers a lot of value, from making customer service more accessible to supporting omni- and optichannel approaches. In this article, we examine this value, presenting all the pros of conversational AI in digital banking. We invite you to read on.
Is Your Organization Ready for Digital Customer Interaction Solutions (DCIS)?
"The only constant in life is change" – this maxim by Heraclitus of Ephesus perfectly summarizes the essence of continuous improvement and the creation of new processes. Just look at the banking sector in Europe in 2015 and compare it to the current situation: contactless payments, mobile banking, digital banks, and the dynamic growth of fintech. Customer behaviors and communication channels have evolved dramatically, leading us to a new era of personalized and real-time customer service. Are you ready for the next step – Digital Customer Interaction Solutions (DCIS), which allow financial institutions to interact with customers in real-time, across multiple channels, and on a large scale?