Big data: The key to staying competitive in the financial services industry

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From embracing robo-advisers, to drones helping assess insurance claims and Australia's major banks scrapping ATM fees, the banking and financial services industry is currently in the process of immense change.


BrandPost: Technology that Helps Meet Financial Customers Needs

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A refreshing take on modern IT infrastructure built around embracing change, empowering mobility, enabling global collaboration, and encouraging unlimited innovation. Your message has been sent. There was an error emailing this page. Today, the financial services industry is expected to provide anytime, anywhere customer service to help meet its clients' needs. Contact center agents are on the front lines and expected to deliver a seamless experience across every channel, every time.


How to Respond to Customers That Aren't Human

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Speaking ahead of Gartner Symposium/ITxpo 2016, Jenny Sussin, research director at Gartner, said that it's essential to identify the level of intelligence of the things that will most likely be your customers. It's essential to identify the level of intelligence of the things that will most likely be your customers. "Things as customers will vary in their level of maturity, as well as in terms of the complexity of the service requests and the need for human intervention, all of which place different demands on customer service organizations," she said. The level of intelligence of things becoming customers can be summarized using three groups: fixed, adaptable and autonomous (see Figure 1). Things in these groups are not bound to one group, but can function interchangeably, depending on their needs.


Why is it so hard for Financial Service Companies to Communicate with Consumers? TechBullion

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Most financial institutions share the same problem – poor customer communications. This is a common criticism from customers and industry analysts alike. Phrases like "financial services lowest in customer satisfaction" are regularly thrown around, and numerous surveys and studies confirm that customers feel confused. This can lead to the conclusion that their bank, for example, simply does not care about them. Many complain, but don't understand exactly why something so seemingly basic like giving them information gets mishandled.


Integrating AI into the Financial Services Customer Experience

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AlphaGo beating Lee Sedol, Go World Champion, may make us humans feel uneasy when confronted with such intellect, but should we instead be embracing artificial intelligence (AI)? Optimists see AI to be the saviour of customer experience in the financial services industry. Siri and Cortana are now at the frontline of providing information services, before we would of had to manually type into a search engine or call up a customer service team to find the answer. This seems just the beginning of AI enhancing customer experience, and its influence in the financial services sector is growing. The financial services sector has been excited with news of BBVA working on their virtual banking assistant Lola, RBS investing into a robo-advisory recording system and Mitsubishi UFJ challenging Lola with their humanoid virtual assistant Nao.