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The buzz around AI is starting to slow down, and we're seeing fewer sensational headlines about it. Instead, we're noticing that information about investments in AI development has become a routine part of business operations. The adoption of AI solutions in financial sectors varies with intensity. Certain implementations and uses of AI (e.g. database management, transaction analysis) are not visible to the average Financial Advisor. Let's examine how AI tools we implemented as LiveBank to our customers impact efficiency and level the playing field between new and experienced employees. Efficiency is a crucial measure that we use to evaluate our employees.
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The Importance of Data Security in Wealth Management Software
What is the role of data security in wealth management? It’s extremely important. Plenty of cybercriminals are targeting financial institutions right now, and wealthy individuals are a promising target. Such customers are also extremely important and more difficult to acquire; hence, you need to build trust, which can be easily broken by insufficient security.
How to Leverage Customer Feedback for Continuous Improvement in Digital Banking
How to leverage customer feedback in digital banking? Firstly, you need to find ways to collect it, and then learn through it and combine the knowledge gained this way with the data gathered in your customer relationship management (CRM) system. In this article, we shall explore this topic further – we invite you to read on.
Leveraging Cloud Technology for Secure and Scalable Wealth Management Solutions
Cloud technology for wealth management comes with a plethora of benefits. It’s scalable, so the number of your customers does not limit you; it’s more secure since cloud systems are protected by the best cybersecurity software available – one that would be too expensive in-house; it’s cost-effective – you don’t need to invest in servers and upgrade your equipment as the system grows; finally, it’s agile and reliable – you can access it on any type of machine. Do you want to learn more? Then read on!
The Future of Wealth Management: Emerging Technologies and Trends
What are the emerging trends and the future of wealth management? Firstly, a new generation of investors is approaching, which means that you need to tailor your services to the characteristics of the younger people. Secondly, sustainable investments will become more important for consumers. Thirdly, we can already see that customers want easy, simple communication via chat apps instead of meeting their advisors in person. Finally, AI is bound to be used to analyze market trends, make predictions and hence find new investment opportunities. Do you want to learn more? Then read on!
Optimizing Financial Operations: AI Applications in Banking Processes
What are the applications of AI in banking? For example, artificial intelligence may be used to adapt the UI based on users' habits, to automate customer service through chatbots and virtual assistants or to categorize transactions and segment customers based on these labels. Do you want to learn more? Then read on!
Managing Customer Expectations in the Era of Digital Banking
Managing customer expectations in digital banking is the ultimate goal of any customer service team. After all, by doing so you can build up loyalty, hence decreasing churn and collecting a higher profit. But what do customers expect? A user-friendly mobile app, omni- and opti-channel solutions, personalized offers and content, high data security, and… an appealing visual design. How do you manage customer expectations? First, you need to learn what your particular customers strive for. Then, it all comes down to… implementing adequate solutions. Do you want to learn more? Then read on!
