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Fresh from the vibrant energy of Money20/20 in Las Vegas, the LiveBank Team brings back a treasure trove of insights that illuminate the unfolding path of banking innovation. Our discussions centered around the harmonious fusion of technology (AI Baking) and human touch in banking. The days spent at Money20/20 went beyond mere trend-spotting, offering a profound exploration into the transformative synergy shaping the future of banking.
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A roadmap for building a Customer Engagement Center
How to add new value for digital customers? Almost all banks have encouraged customers to shift transacting from branches to the digital world. Although not all adaptation attempts were successful, they achieved the goal. Customers check their account balances and make transactions and payments in web banking and mobile applications. So how can we add new value for these customers, based on digital roots?
How banks manage to sell complex financial products remotely
Electronic banking has moved most transactional operations into digital channels. The benefits for the customer are better access to their finances and time savings. For banks, the benefits are the cost savings - the number of bank branches closed in the past decade is 82,000. The remaining branches focus on servicing more complex products, such as mortgage loans or investment products. Are we, therefore, on the brink of a revolution in social communication, in which we no longer require the other person to make time for us to speak with them?
Human support vs. AI bots in customer service
The number of AI-driven solutions helping organisations improve customer communications grows every year. Sending specific queries to a bot helps customer service centres increase their efficiency. In addition, customer behaviour and expectations are changing regarding customer service.
Human conversations in digital banking — A relic of the past or a rebirth?
We are witnessing profound changes in how customers use banking services. There has been a shift toward everything virtual. From retail to professional services to health and education, almost all sectors offer all or part of their services online. Customers’ attitudes have changed, and they now prefer to have the option to take care of business online.
Will the true Omni-channel please reveal itself?
Will omnichannel banking deliver on its promise anytime soon? This article examines the question and finds a new understanding of the omnichannel concept.
5 ways to boost online sales in banking
The number of people using digital channels to access their services is on the rise. However, the banks are sometimes struggling to seize the opportunity created by this sudden shift in customers’ preferences. Boosting the sales is now easier than ever before — provided that your institution has the right tools to do it. Discover […]
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