How a Unified Interaction Platform and Generative AI Contribute to ROI
The last few years have highlighted the need to continue to evolve the customer and employee experience – offering personalized service while also delivering value and a seamless experience for both sides. As we wrap up 2023, Glia outlined 3 top trends for financial institutions heading into 2024, including:
- ROI and measurable value now define the tech evaluation process
- Utilizing a unified customer interaction platform drives both efficiency and a better customer experience
- Generative AI starts to deliver value
Let’s break down each of these trends a bit further:
ROI / Measurable Value
Delivering a return on investment (ROI) for every asset in your technology portfolio is paramount. In this market, if a technology can’t deliver measurable value for the financial institution then it likely won’t make the cut. Value can be realized in many ways, including increased efficiency, reduced call and online abandonment, improved employee and customer satisfaction, as well as deposit and loan growth through meaningful interactions.
Read more about delivering value from your interactions:
- Customer Interaction Strategy ROI: More Than Meets the Eye
- Unlocking Measurable Value: Glia Client Experiences
Drive Efficiency and Value with a Unified Interaction Platform
Switching between SMS, chat, and voice can be a headache for customers–especially when they have to go through multiple representatives to re-explain their inquiry–and employees alike. Bridging the gap between systems and channels has enabled many financial institutions to realize significant gains in satisfaction and conversion rates.
Further, a centralized platform can improve management, staffing, and reporting. Not only does a ChannelLess™ interaction platform allow financial institutions to facilitate smoother, more effortless experiences while increasing efficiencies and reducing costs, but it also empowers them to serve the right interaction at the right time.
Learn more about the value of utilizing a unified customer interaction platform:
- Expedition CU Exemplifies the Power of Consolidating Phone & Digital on One Platform
- It’s Never Too Early For More Efficient Customer Service
- Deriving Value from the Insurance Contact Center
- What’s More Important Than Customer Interactions? Nothing.
Realizing Value From Generative AI and Automation
In late November 2022, an early demo of ChatGPT was publicly released and has become the darling of the technology world. Delivering both excitement and trepidation, financial institutions have been grappling with how to leverage Generative AI to enhance, not replace, service workers as well as meet regulatory requirements.
Financial institutions can reap rewards with automation, including increased conversions, accelerated resolution times, and improved employee efficiency. When considering tools, FIs should look for technology that offers AI-generated suggestions to help the services team guide customers. Additionally, GenAI can offer performance insight compared to similar organizations, identify trends as they are occurring, and offer progress updates that go beyond typical call center metrics.
See more on the power of Generative AI:
- Generative AI: Unpacking Impact and Implications for Financial Customer Interactions
- Interactions with Generative AI: Q&A with Jay Choi on Gen AI
- No, Generative AI is Not the Latest Fright Night Monster
- 5 Ways To Avoid The Consumer Financial Protection Bureau’s ‘Dangers From Poorly Deployed Chatbots’
As you head into 2024, how is your financial institution approaching improving and unifying your customer interactions? In what ways will you deliver value from your interactions and leverage automation tools?
