Digital banking transformation involves the integration of data, advanced analytics and digital technology into all areas of a financial institution, changing the way work is done, priorities set and services delivered. Become a Data and Analytics Leader Enhance Consumer Experiences Foster Innovation Leverage Modern Technologies Upgrade Systems and Processes Reskill Your Workforce Align Leadership and Culture for Digital Future Unlocking the full potential of digital banking transformation requires the use of data, analytics and artificial intelligence to deliver an exceptional customer experience. The challenge that was found in research by the Digital Banking Report is that, while financial institutions understand the importance of data and advanced analytics, 75% of institutions don't consider themselves adept at using these capabilities. COVID-19 shifted consumers' use of digital technology in an instant, creating more awareness of the potential of digital apps and creating new digital habits. This has impacted the way consumers bank and the expectations consumers have around digital solutions and digital engagement.

AI and machine learning are coming of age, and 2021 is set to become the year that AI dominates the customer service call center, by providing real-time feedback, predictive analytics, and in-depth analysis. AI is enhancing the customer experience while improving the lives of call center employees. This article will look at the ways that AI is changing the game when it comes to call center dynamics. Most of us are familiar with IVR when calling customer service centers, and have found them to be annoying, time-consuming, and not very helpful. It's gotten to the point where when the first prompt is heard, the caller just keeps pressing zero to speak with a live customer service agent before getting trapped in a maze of repeating, endless frustration. Still, when IVRs first came out, they served a purpose, and saved customer service agents a lot of time, even if they didn't do much to improve the customer experience.

AI is by far the biggest hype I have seen in my career, and for good reason. It could revolutionise customer experience at a time when experience and service are the final frontier in differentiation. In the entire digital transformation of the world, we are spending over $1.2 trillion next year, and $6 trillion over the next four years. Much of this spend will focus on technologies that allow the enterprise to differentiate in the market and deliver exceptional customer experience. An emerging Gen Z employee and customer base is changing engagement models with companies, using more channels and more self-service options.

Imagine an organization avoiding digital marketing tools and surviving the past decade essentially off-the-digital-grid. It's difficult to conceive, at best. The absurdity could defeat the most seasoned poker face. Because it's impossible that a business thrives, grows, survives, or even gets started without leveraging the power of digital marketing tools. As with the proverbial tree in the forest, if an organization is established and no one knows about it, does that organization really exist? Consider any famous fictional organization that may not really exist, yet millions of people know about it.

The rapid growth of digital technologies in the recent years has created a very distinct type of a customer-a customer that allots majority of his/her time on the internet be it via social media networks or mobile. We, our self can identify with them the way we spend most of our time online- and this is majorly affecting the way we communicate with customers. Statista says that as of 2018, "over 4 billion people are active internet users and 3.3 billion are social media users". Plus, out of this digital population, 79% of consumers demand real-time conversations and engagements with brands rather than phone or e-mail. The new type of customer is empowered with all the information and connectivity at their disposal.