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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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The Benefits of Implementing eKYC in Banks
Customer onboarding is one of the most commonly abandoned processes in banking. It’s directly responsible for the high customer acquisition costs that financial organizations face nowadays. However, there is a way to mitigate this problem: the implementation eKYC in digital banking. In this article, we look into the benefits of such a solution. We invite […]
Digital Onboarding: Best Practices and Trends
Digital customer onboarding is the most frequently abandoned step in banking. According to the Innovatrics Trust Report[1], the percentage of potential customers giving in the course of this process varied from 38% to 63% in the previous decade. How do you reduce these rates, improve your digital customer onboarding experience, and reduce the customer acquisition costs through it? We discuss this in this article—read on to find out more!
The Value of LiveBank
Evaluating customer journeys and business models are more relevant than ever. Regardless of ongoing digital initiatives, human assistance is still necessary to make processes friendlier and faster to implement.
Will Virtual Branch Work For Your Bank?
LiveBank is an omnichannel communication and collaboration hub for banks that aggregate all communication channels like text chat, video and audio. LiveBank provides retail banks secure and friendly contact channels for its clients. This synergy of technology and people enriches communications and establishes the grounds for the digitalization of bank processes. As a result of […]
The Virtual Alternative for Traditional Banks
Technology causes pivotal changes in the banking industry. Digitization process has already changed the nature of banking itself. What’s more, as we observe, customer behavior is supportive of virtual banking. Current ‘stay at home’ status keeps people away from public places, so the best way to adjust to those restrictions while having constant access to the banking is to move the services to the virtual channels.
Digital transformation in banking with LiveBank24
Currently, world is undergoing a huge digital transformation caused by coronavirus pandemic. Suddenly, the number of people using digital channels went through the roof and everyone has to adapt the work-from-home (WFH) model. Those changes affected thousands of customers in hundreds of industries, including banking services. Is your business ready for the change?