The Financial Brand Insights - Fall 2022

4 Ways Conversational Banking Boosts Your Bottom Line

A bank’s digital presence is the primary space for customer-facing interactions. In the last half- decade, banks and credit unions have managed to transform many routine transactions into simple, digital self-service tasks. But when the inevitable moment comes for banks to play a more hands-on role, human-led conversations are the first rule of engagement. The ability to have an online conversation with customers is now a baseline requirement for any organization rolling out a digital offering. For most consumers, engagement via messaging channels is a service expectation of any brand. This is an uncomfortable truth for financial institutions. Why? Too many customers have come to associate online conversations about their finances with chatbots that can’t answer complex questions and result in frustrating resolution times. Clearly, banks aren’t leveraging the true potential of conversational customer service. Certainly, these types of interactions have tended to fall into a banking blind spot. While many have capitalized on the value of conversational technology as a way to cut service costs, there is less emphasis on using artificial intelligence (AI) and online conversations as a channel for building better customer relationships. The result is customer

By Lisa Joseph President of the Americas at Unblu

Too many consumers have come to associate bank service with frustrating chatbot 'conversations' that don’t answer anything but the most basic questions. This misses the true potential of conversational banking. Bots play a key role if properly integrated with human agents in a hybrid approach.

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THE FINANCIAL BRAND INSIGHTS FALL 2022

THE FINANCIAL BRAND INSIGHTS FALL 2022

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