Practical thinking and the latest trends on agentic AI, contact center strategies, banking AI, fraud prevention, and member experience — written for credit union and community bank leaders. 264+ articles and counting.
(Guest Blog by Dr. David Tuyo, CEO, University Credit Union ; Originally Posted by CUInsight ) Despite all the excitement around innovations in fintech, larger and more traditional financial institutions are typically a…
Today, on the occasion of the International Credit Union Day, I wanted to take a moment to revisit the history of the credit union movement in the United States & truly appreciate the…
Debt collection remains one of the top challenges facing financial institutions today. Due to their business nature, financial institutions regularly undertake risks such as delinquencies & defaults associated with lending. Global consumer debt…
Press Release: July 22, 2020- San Mateo, California (Source- PRNewswire) University Credit Union (UCU), based in Los Angeles and serving over 41,000 members of the university community, announced that it has embarked on…
With social distancing has become a new norm, digital banking is key for banks to stay connected with their customers. In the month of April 2020, digital banking apps in the US experienced…
Debt collection remains as one of the top challenges for financial institutions to manage their business profitability and it remains a manually intensive task. Banks often offload this activity to third party debt…
On 28-May 2020, Bank innovation published an article titled ‘Tech Focus: Do chatbots have a long-term future after COVID-19 bump?’ in collaboration with interface.ai, Aite Group – the financial services research firm and…
The COVID Pandemic has created a seismic shift in businesses and how they are run. Brands have had to rethink ways in which to service the customers while still being considerate towards their…
Integration of AI in Contact centers can keep employees safe, provide reliable customer service, and reduce customer wait time
Overdraft fees in traditional banks are shrinking with the advent of challenger banks and regulatory scrutiny. AI Virtual assistants can help increase this revenue by offering advisory services to customers
AI powered Digital Assistant can help in reducing operational burden on Financial Institutions with instant call centers.
Financial institutions should ask potential AI vendors a number of questions before they settle on the right partner. See a some of the questions and potential answers here
The coronavirus outbreak is already impacting financial markets and this has an immediate effect on the core business of financial institutions. Virtual Assistant can help in automating support operations for financial institutions during pandemic situations.
Frontline staff can be more productive if they are empowered with virtual assistants that help them to spend more time selling the products rather than on administrative tasks
financial education can be best achieved through the banking digital assistant. Digital assistants are present across every channel where the customer is, it can offer financial advice in a non-intrusive way.
Customer onboarding using AI virtual assistants can increase customer lifetime value
Employee digital assistants can improve employee engagement while improving several HR process like on-boarding, training, survey, appraisal and exits
Digital assistants can fix the fundamental issues within contact centers brought on by low employee engagement by improving employee satisfaction, alleviate the work pressure, meaningfully engage employees, while still reducing cost and improving the bottom-line.
Conversation interfaces are improving brand perception and engagement of banks by making information accessible, recommending financial products, 24/7 support, and proactive customer interaction
Digital assistants can best serve the next generation of users by overcoming the frustrations of IVR
Digital Assistants can help banks boost revenue through discovery , recommendation, up-selling, cross-selling, and faster conversion
Today, most Credit unions are looking to enhance customer experience, while attempting to reduce costs, boost revenues and improve operational efficiencies. Digital Assistants help them to achieve all these objectives seamlessly.
Convenience is a top priority for consumers on mobile channels. When we use our smartphones, we expect things to be done quickly & easily. Digital assistants combine natural language understanding with deep domain knowledge, so the voice command can directly be translated into the desired action.
It’s the age of “Digital Darwinism”, an era where technology disruption is evolving at a faster pace than the ability of businesses and customers to adapt. However, technology disruption like Artificial Intelligence (AI)…
