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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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Advantages of Adopting Digital Mortgage Solutions for Lenders
What are the advantages of adopting digital mortgage solutions for lenders? First, the process becomes much quicker, even four times faster – this not only improves customer satisfaction but also attracts more customers who prioritize time efficiency. Second, this raises productivity, increasing overall profitability. Third, adopting such solutions reduces the number of errors, especially those related to compliance, which can cause financial backlash. Finally, it helps your bank learn based on feedback and data. Do you want to learn more? Then keep reading!
Key Features to Look for in Wealth Management Software
What are the key features that you need in your wealth management software? A robust security system, remote communication channels (including an app!), AI-powered product recommendations, and an AI assistant for your relationship managers. Why do you want to look for these particular features? Find it out!
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.
Adapting Customer Service Strategies for Different Generations in Digital Banking
Tailoring customer service strategy in banking to the needs of different generations is crucial. After all, there are major differences between them. Take the attention span, for example. In 2000 the average for adults was 12 seconds, while in 2021, it was only 8 seconds[1], proving that the older generations have a longer attention span than the younger ones. Their priorities also differ: Gen Z and Millenials strive for faster payments and transfers, Gen X for customized product recommendations, and Boomers prioritize security[2]. So, how to tailor your customer service strategy in digital banking to the needs of each generation? Find it out in this article!
Why Banks Need a Cloud-based Customer Service System
Cloud-based software offers a technical stack as well as the opportunity to engage customers at a new level. The borders between traditional retail banking and fintech companies no longer exist in today's financial landscape. Customers now have more digital habits than they did five or even two years ago. Customers want a consistent experience across digital platforms and touchpoints. They want the major functions to be right in front of their eyes.
Case-based management – how does it help bank teams?
Every day, thousands of customers contact bank advisors with questions about products they have or they want to hear about the latest bank offers and digital trends. These customers want to settle their cases in the most efficient way possible. Furthermore, their expectations regarding the quality and speed of service are rising consistently every year.
