More and more customers are seeing mobile as their banking channel of choice, proven by a growing body of papers. To cite some, Cimigo revealed that for every 10 respondents who are Vietnamese consumers, 3 are using some forms of e-payments including mobile banking application and e-Wallet. Or Backbase predicted that mobile transactions in Vietnam will increase by 300% between 2021 and 2025, driven by mobile payments. As banks build more creative features and integrate with third-party financial products, mobile banking application is no longer a tool for remote money transaction; it has become a financial lifestyle platform that offers a single hub for all banking services. In this article, we get to explore various innovative features that a bank might consider for its mobile banking application, with the goal to keep up with the Digital Banking upsurge.
Identity Management as an Enabler for Digital TransformationCarlos Sousa
As companies continue embracing Digital Transformation, Identity Management raises as one of the core topics that enable a fast, innovative and disruptive change.
Sales, Marketing and Customer Success units require accurate data regarding the people that interact with the company, in order to leverage the efficiency and effectiveness of their efforts.
HR must create new experiences for their employees, raising satisfaction and engagement, embracing modern digital workspace technologies.
IT must address the never ending list of security risks that have the potential to impact the operation, reputation and ultimately the existence of business itself.
We believe that, at the heart of the solution to all these problems is an innovative, Identity Management solution.
This presentation shows OutSystems’ understanding of the problem, as well as the steps to put in place the envisioned solution:
- What parts compose the solution in terms of Identity Consolidation, Access Management and Data Enrichment?
- What is the core data that we need to manage, in order to accomplish our goals?
- How does the solution fits in a large ecosystem of custom solutions and Software as a Service?
- What technologies will be used to deploy the final solution?
- How do we leverage advanced analytics and AI to derive new insights and better act?
- How will it support the company's IAM processes?
Gartner predicts that in 2020, organizations using AI tech will achieve long-term success 4 times more than others. Considering the exponential expansion and influence of AI and its exceptional value, adopting this technology is no longer a choice, but a need, for organizations.For more visit at https://www.payjo.co/blog/13-reasons-why-your-business-needs-ai/
Luxembourg 2019 market pulse survey for insuranceAccenture BeLux
The Luxembourg insurance industry, often shackled by tradition, is on the precipice of change. It is now perfectly positioned to capitalize on an energized customer-base seeking greater affinity and new services.
This is the key finding of the 2019 Luxembourg Insurance Market Pulse Survey (MPS), the first of its kind in the country. Jointly developed by Accenture and Bâloise Luxembourg, it surveyed more than 1000 respondents on 25 questions across six categories, ranging from ‘Satisfaction’ to ‘Omni-channel Experience’.
Artificial intelligence role in customer service venkat k - mediumusmsystem
Customer experience should always be top-notch for any business. Keeping existing customers happy will result in better returns for businesses than constantly finding new customers. Continuous advances in technology are giving companies additional tools and resources to change customer service interactions, provide better response time, and increase the quality of the interaction.
How Financial Services Companies Use Digital Technology to Improve Customer E...Precisely
Companies like yours provide a vital service to the public, but you know that communicating with consumers can be challenging. No matter how important banking and insurance products are, most people spend little time reading the fine print.
So how do you increase customer engagement and boost retention?
Join our conversation to learn how you can easily create relevant and meaningful connections throughout the customer experience journey.
Find out how organisations like yours use digital media to help them enrich engagement and build lasting and profitable customer relationships.
More and more customers are seeing mobile as their banking channel of choice, proven by a growing body of papers. To cite some, Cimigo revealed that for every 10 respondents who are Vietnamese consumers, 3 are using some forms of e-payments including mobile banking application and e-Wallet. Or Backbase predicted that mobile transactions in Vietnam will increase by 300% between 2021 and 2025, driven by mobile payments. As banks build more creative features and integrate with third-party financial products, mobile banking application is no longer a tool for remote money transaction; it has become a financial lifestyle platform that offers a single hub for all banking services. In this article, we get to explore various innovative features that a bank might consider for its mobile banking application, with the goal to keep up with the Digital Banking upsurge.
Identity Management as an Enabler for Digital TransformationCarlos Sousa
As companies continue embracing Digital Transformation, Identity Management raises as one of the core topics that enable a fast, innovative and disruptive change.
Sales, Marketing and Customer Success units require accurate data regarding the people that interact with the company, in order to leverage the efficiency and effectiveness of their efforts.
HR must create new experiences for their employees, raising satisfaction and engagement, embracing modern digital workspace technologies.
IT must address the never ending list of security risks that have the potential to impact the operation, reputation and ultimately the existence of business itself.
We believe that, at the heart of the solution to all these problems is an innovative, Identity Management solution.
This presentation shows OutSystems’ understanding of the problem, as well as the steps to put in place the envisioned solution:
- What parts compose the solution in terms of Identity Consolidation, Access Management and Data Enrichment?
- What is the core data that we need to manage, in order to accomplish our goals?
- How does the solution fits in a large ecosystem of custom solutions and Software as a Service?
- What technologies will be used to deploy the final solution?
- How do we leverage advanced analytics and AI to derive new insights and better act?
- How will it support the company's IAM processes?
Gartner predicts that in 2020, organizations using AI tech will achieve long-term success 4 times more than others. Considering the exponential expansion and influence of AI and its exceptional value, adopting this technology is no longer a choice, but a need, for organizations.For more visit at https://www.payjo.co/blog/13-reasons-why-your-business-needs-ai/
Luxembourg 2019 market pulse survey for insuranceAccenture BeLux
The Luxembourg insurance industry, often shackled by tradition, is on the precipice of change. It is now perfectly positioned to capitalize on an energized customer-base seeking greater affinity and new services.
This is the key finding of the 2019 Luxembourg Insurance Market Pulse Survey (MPS), the first of its kind in the country. Jointly developed by Accenture and Bâloise Luxembourg, it surveyed more than 1000 respondents on 25 questions across six categories, ranging from ‘Satisfaction’ to ‘Omni-channel Experience’.
Artificial intelligence role in customer service venkat k - mediumusmsystem
Customer experience should always be top-notch for any business. Keeping existing customers happy will result in better returns for businesses than constantly finding new customers. Continuous advances in technology are giving companies additional tools and resources to change customer service interactions, provide better response time, and increase the quality of the interaction.
How Financial Services Companies Use Digital Technology to Improve Customer E...Precisely
Companies like yours provide a vital service to the public, but you know that communicating with consumers can be challenging. No matter how important banking and insurance products are, most people spend little time reading the fine print.
So how do you increase customer engagement and boost retention?
Join our conversation to learn how you can easily create relevant and meaningful connections throughout the customer experience journey.
Find out how organisations like yours use digital media to help them enrich engagement and build lasting and profitable customer relationships.
We Live In a Digital World - Cool Communication Tools that won't Weigh your C...Rosina Webb
At the EMA Sales and Service Conference, Rosina Webb of Energise and Associates and Rebecca Caroe of Creative Agency Secrets presented on how to integrate digital communications into existing customer service models.
The Journey to Digital Transformation with Touch BankBackbase
The presentation of Andrei Kozliar, CEO of Touch Bank. In this webinar, Jouk Pleiter, CEO of Backbase, talks to two of the most innovative banks in Europe – Touch Bank and CheBanca!
Digital transformation is about fundamentally changing how banks attract, interact with and satisfy consumers, and it affects all levels of your organisation. Antonio and Andrei will share real-life examples of digital transformation in our new webinar, which will look at:
what was needed to start their digital transformation journeys
the key elements for success.
Antonio Fratta Pasini is Head of CRM and Omni-channel for CheBanca!, the retail bank of Mediobanca Group, the third largest financial services group in Italy. CheBanca! has always been at the forefront of innovation, from flagship futuristic branches to award-winning banking apps such as WOW!
Andrei Kozliar is CEO of Touch Bank, a neobank created by OTP Bank. Founded in 1949, OTP Bank is one of the largest independent financial service providers in Central and Eastern Europe, serving nine countries. Recognizing that today’s digital-savvy customers and emerging digital natives are going to be the fastest growing customer segment, OTP Bank decided to launch a new, digital- and mobile-only bank under the label Touch Bank.
How conversational voice ai is reshaping the banking industry finalAgara
AI-powered, autonomous voice bots, based on conversational voice AI technology, empower banks to provide personalized, frictionless banking experiences, drive customer loyalty and profitability, and optimize operational efficiency.
Find out how banking leaders responsible for growth, CX, and customer service innovation are looking to leverage autonomous voice bots to elevate their phone support.
How Does Contact Centre AI Help You Minimise Consumer Effort | AcefoneJit Dubey
Pandemic has undergone significant transformations in lots of contact centre business operations. Let's look at how artificial intelligence can enhance the consumer experience by reducing consumer effort.
Top-10 Technology Trends in Retail Banking: 2018Capgemini
The proliferation of technology and entry of new players such as FinTechs continues to disrupt the retail banking industry. Augmenting customer experience has been the need of the hour as customers increasingly adopt digital products and services. In pursuit of more nimble processes and innovative approaches, traditional retail banks are enthusiastically investing in digital transformation and FinTech collaboration. With banks under pressure to boost revenues and reduce costs, while delivering better customer experience, they have been investing in emerging technologies such as blockchain, Artificial Intelligence, and Digital IDs. Moreover, banks are automating their processes and increasingly migrating their infrastructure and applications to the cloud to create a seamless customer journey. Many regulations and open-banking initiatives are emerging across the globe aimed at fostering innovation. To stay competitive, banks must remain cognizant of numerous implications from within and from outside the financial services industry. This report explores and analyzes the most high-impact tech trends expected to drive future retail banking ecosystem dynamics.
Banks won’t succeed if they don’t put the desires of their customers above all else. The current state of the banking industry falls short of expectations for both banks and their customers, yet the market has become increasingly competitive. Whilst the reasons for this vary, falling behind will most likely lead to failure.
Staying relevant is about so much more than just bringing nice interfaces to the end customer. An integrated approach is vital, one that spans the entire user experience and a host of back-end systems and procedures. This is about bringing everything together to create a smart framework that connects all the parts of the bank to optimize the customer experience. That framework is Customer OS and its four pillars are open banking, modular banking, omni-channel banking and smart banking.
An open API strategy and the clever use of data will drive the open and modular banking components. Segmented client experiences across all channels and embracing new technologies will power omni-channel and smart banking.
How would digital technology change the landscape of retail branch banking? Will the physical network disappear? Will robots replace human financial advisers? Will augmented reality become everyday life? This presentation looks at the value chain of branch banking and the relevance of five innovative technologies: Open API, artificial intelligence, RPA, augmented reality and blockchain.
The Marketer of the Future and Conversational MarketingCall Sumo
Artificial intelligence is the future of marketing as it is the only engine that drives conversation marketing as well as increases the interaction with customers.
Delivering excellent customer services also means that satisfied customers can turn into brand ambassadors.
Studies show that customers return if they are given consistently good customer services. And that they tend to give up on a purchase due to poor service. Or even switch to a competitor.
Advanced call centre outsourcing services,inbound call centre have already raised the bar with consistent, swift, AI-powered support
White-label Neobank. Turnkey solution for Enterprises, Banks, and Startups.
Launch your own comprehensive Neobank under your brand in a short timeframe by utilizing our network, licenses, permissions, certifications, and software.
Learn more - https://optherium.com/digital-banking/
This document brings together a set
of latest data points and publicly
available information relevant for
Digital Customer Experience
Industry. We are very excited to share
this content and believe that readers
will benefit from this periodic publication immensely.
Every problem has an opportunity: while challenger banks are thriving, incumbents are sourcing open banking capabilities to catch up. In the Banking Automation Bulletin, VP of Strategy Tim Rutten shares his thoughts on how incumbents can develop the best
In today's banking landscape, customers are increasingly seeking digital solutions over traditional branch visits or lengthy phone calls with customer service representatives. They crave convenience and efficiency, and this is where chatbots in banking play a pivotal role. The conventional approach to customer interaction in banking can be arduous and tiresome. However, chatbots offer a modern alternative. Utilizing natural language processing and machine learning technologies, these chatbots facilitate seamless communication between customers and their banks. Read this presentation to know more.
Conversational commerce/Conversational Banking means allowing customers worldwide, to text /chat/speak with the bank/retail stores, etc. as easily and conveniently as they text/chat /speak with their friends and family in messaging apps
Conversational Commerce with the help of NLP, Big data and AI will radically expedite digital transformation and offers customers a "zero learning curve" experience – no complex interface to navigate – where they can simply message in natural language with the bank or the retail store, etc. to ask questions and get service on their own terms and timetable.
We Live In a Digital World - Cool Communication Tools that won't Weigh your C...Rosina Webb
At the EMA Sales and Service Conference, Rosina Webb of Energise and Associates and Rebecca Caroe of Creative Agency Secrets presented on how to integrate digital communications into existing customer service models.
The Journey to Digital Transformation with Touch BankBackbase
The presentation of Andrei Kozliar, CEO of Touch Bank. In this webinar, Jouk Pleiter, CEO of Backbase, talks to two of the most innovative banks in Europe – Touch Bank and CheBanca!
Digital transformation is about fundamentally changing how banks attract, interact with and satisfy consumers, and it affects all levels of your organisation. Antonio and Andrei will share real-life examples of digital transformation in our new webinar, which will look at:
what was needed to start their digital transformation journeys
the key elements for success.
Antonio Fratta Pasini is Head of CRM and Omni-channel for CheBanca!, the retail bank of Mediobanca Group, the third largest financial services group in Italy. CheBanca! has always been at the forefront of innovation, from flagship futuristic branches to award-winning banking apps such as WOW!
Andrei Kozliar is CEO of Touch Bank, a neobank created by OTP Bank. Founded in 1949, OTP Bank is one of the largest independent financial service providers in Central and Eastern Europe, serving nine countries. Recognizing that today’s digital-savvy customers and emerging digital natives are going to be the fastest growing customer segment, OTP Bank decided to launch a new, digital- and mobile-only bank under the label Touch Bank.
How conversational voice ai is reshaping the banking industry finalAgara
AI-powered, autonomous voice bots, based on conversational voice AI technology, empower banks to provide personalized, frictionless banking experiences, drive customer loyalty and profitability, and optimize operational efficiency.
Find out how banking leaders responsible for growth, CX, and customer service innovation are looking to leverage autonomous voice bots to elevate their phone support.
How Does Contact Centre AI Help You Minimise Consumer Effort | AcefoneJit Dubey
Pandemic has undergone significant transformations in lots of contact centre business operations. Let's look at how artificial intelligence can enhance the consumer experience by reducing consumer effort.
Top-10 Technology Trends in Retail Banking: 2018Capgemini
The proliferation of technology and entry of new players such as FinTechs continues to disrupt the retail banking industry. Augmenting customer experience has been the need of the hour as customers increasingly adopt digital products and services. In pursuit of more nimble processes and innovative approaches, traditional retail banks are enthusiastically investing in digital transformation and FinTech collaboration. With banks under pressure to boost revenues and reduce costs, while delivering better customer experience, they have been investing in emerging technologies such as blockchain, Artificial Intelligence, and Digital IDs. Moreover, banks are automating their processes and increasingly migrating their infrastructure and applications to the cloud to create a seamless customer journey. Many regulations and open-banking initiatives are emerging across the globe aimed at fostering innovation. To stay competitive, banks must remain cognizant of numerous implications from within and from outside the financial services industry. This report explores and analyzes the most high-impact tech trends expected to drive future retail banking ecosystem dynamics.
Banks won’t succeed if they don’t put the desires of their customers above all else. The current state of the banking industry falls short of expectations for both banks and their customers, yet the market has become increasingly competitive. Whilst the reasons for this vary, falling behind will most likely lead to failure.
Staying relevant is about so much more than just bringing nice interfaces to the end customer. An integrated approach is vital, one that spans the entire user experience and a host of back-end systems and procedures. This is about bringing everything together to create a smart framework that connects all the parts of the bank to optimize the customer experience. That framework is Customer OS and its four pillars are open banking, modular banking, omni-channel banking and smart banking.
An open API strategy and the clever use of data will drive the open and modular banking components. Segmented client experiences across all channels and embracing new technologies will power omni-channel and smart banking.
How would digital technology change the landscape of retail branch banking? Will the physical network disappear? Will robots replace human financial advisers? Will augmented reality become everyday life? This presentation looks at the value chain of branch banking and the relevance of five innovative technologies: Open API, artificial intelligence, RPA, augmented reality and blockchain.
The Marketer of the Future and Conversational MarketingCall Sumo
Artificial intelligence is the future of marketing as it is the only engine that drives conversation marketing as well as increases the interaction with customers.
Delivering excellent customer services also means that satisfied customers can turn into brand ambassadors.
Studies show that customers return if they are given consistently good customer services. And that they tend to give up on a purchase due to poor service. Or even switch to a competitor.
Advanced call centre outsourcing services,inbound call centre have already raised the bar with consistent, swift, AI-powered support
White-label Neobank. Turnkey solution for Enterprises, Banks, and Startups.
Launch your own comprehensive Neobank under your brand in a short timeframe by utilizing our network, licenses, permissions, certifications, and software.
Learn more - https://optherium.com/digital-banking/
This document brings together a set
of latest data points and publicly
available information relevant for
Digital Customer Experience
Industry. We are very excited to share
this content and believe that readers
will benefit from this periodic publication immensely.
Every problem has an opportunity: while challenger banks are thriving, incumbents are sourcing open banking capabilities to catch up. In the Banking Automation Bulletin, VP of Strategy Tim Rutten shares his thoughts on how incumbents can develop the best
In today's banking landscape, customers are increasingly seeking digital solutions over traditional branch visits or lengthy phone calls with customer service representatives. They crave convenience and efficiency, and this is where chatbots in banking play a pivotal role. The conventional approach to customer interaction in banking can be arduous and tiresome. However, chatbots offer a modern alternative. Utilizing natural language processing and machine learning technologies, these chatbots facilitate seamless communication between customers and their banks. Read this presentation to know more.
Conversational commerce/Conversational Banking means allowing customers worldwide, to text /chat/speak with the bank/retail stores, etc. as easily and conveniently as they text/chat /speak with their friends and family in messaging apps
Conversational Commerce with the help of NLP, Big data and AI will radically expedite digital transformation and offers customers a "zero learning curve" experience – no complex interface to navigate – where they can simply message in natural language with the bank or the retail store, etc. to ask questions and get service on their own terms and timetable.
Conversational AI automation in the banking and financial sector has enabled banks to have customer experience, engagement along with improving contact center management, operational efficiency as well as upselling and cross-selling opportunities.
Designing a Results Driven Digital Strategy: Customers and Corporations’ Digi...Fabio Mittelstaedt
The common questions in the market today are: How can I Design a Results Driven Digital Strategy? Mobile Strategies Sell or it is just about a better Customer Experience?
What are the key building blocks to envision and build an innovative digital strategy? How disruptive it should be? As much as FinTech Startup Winners? And how can I establish a flexible Digital Roadmap, that can change constantly in this new agile world? What happens if I build an apparently Perfect Digital Customer Journey and do not transform my corporation from inside? The new Point of View “Designing a Results Driven Digital Strategy” aims to analyze and provoke a series of strategic reflections on issues & opportunities such as digital customer experience maturity, personalization, digital transformation, analytics insights, mobility, agile organization, benefits and results of digital projects etc, which I have combined with examples from my practical experience and innovative cases in the marketplace.
Thabo Ndlela- Leveraging AI for enhanced Customer Service and Experienceitnewsafrica
Thabo Ndlela, from Accenture, delivered a keynote on Leveraging AI for enhanced Customer Service and Experience at Digital Finance Africa 2023 on the 2nd of August 2023.
Gartner predicts that in 2020, organizations using AI tech will achieve long-term success 4 times more than others. Considering the exponential expansion and influence of AI and its exceptional value, adopting this technology is no longer a choice, but a need, for organizations.
Here are 13 reasons why your business needs AI:
Generative AI in customer service and implementation.pdfalexjohnson7307
Generative AI, a subset of artificial intelligence (AI), is rapidly reshaping various industries, and customer service is no exception. Unlike traditional AI systems that rely on predefined rules and responses, Generative AI leverages advanced machine learning techniques to generate human-like responses autonomously. By analyzing vast amounts of data, learning from interactions, and adapting to new scenarios, Generative AI enables businesses to deliver personalized and contextually relevant customer experiences at scale.
Engage and service customers through the channels of their choice with AI powered continuous service capabilities. Deliver speed and flexibility with minimum processing times, responsiveness, and needs-based service. Unify SMS, social media, live chat, email, messaging and chatbots into conversations with customers to give them what they need, when they need, delivered at their preferred channel.
Popular uses of chatbot app development in various industriesAndroid Developer
Chatbots are an increasingly popular tool that is revolutionizing almost every industry. Almost 80% of businesses are considering investing or deploying in chatbots in the coming years. As Chatbots are enriched with different abilities and address different requirements in each industry, here are some popular chatbot use cases for various industries and how they are deployed.
Unravelling the power of ai to improve customer experienceEnterprise Bot
Customer experience lies at the heart of every business. Just like a building can’t stand without pillars, your business can’t win the race without a seamless customer experience (CX).
Business leaders’ prime focus now has shifted more towards establishing a consistent customer experience across all touchpoints to exceed the organizational standards and customer expectations.
As a plan of action, they are investing in next-gen technologies such as Artificial Intelligence (AI) to augment their customer experience efforts
A sound call center strategy results in increased service levels, better agent performance, and improved customer experience. Let's look at some call center trends that will dominate the year 2020.
At Finlytica Corporation, our mission is to make it easier for decision-makers to use powerful analytics every day, to shorten the path from data to insight – and to inspire bold new discoveries that drive improvement. We envision a world where everyone can make better decisions, grounded in trusted data, and assisted by the power and scale of Finlytica Advanced Analytics solutions.
Check 5 trending technologies for building an omni-channel customer service environment. They are working in tandem to deliver a unique and superior customer experience, leveraging the AI.
How Chatbots Can Revolutionize Customer Service.pptxNaomi Cequens
Whether you're a business based in Dubai or expanding your reach globally, chatbots offer a multitude of benefits. Cequens Dubai can help with the best assistance.
For exploration, consider researching specific chatbot use cases relevant to your industry. You can also delve deeper into CPaaS which provides the underlying technology for features like SMS API and push notifications Dubai or any other region.
By understanding these complementary tools, you can craft a comprehensive customer service strategy that leverages the power of chatbots and beyond.
To contact us, visit us at https://www.cequens.com/ or reach out to us at 971 42987046 / hello@cequens.com to know more!
AI helps banks to predict future trends as well as outcomes. It has the power to predict future scenarios by analyzing past behaviors. Therefore, banks can easily identify fraud, detect anti-money laundering patterns, and make customer recommendations. AI is capable enough to detect suspicious data patterns among humungous volumes of data, which further helps in fraud management.
Artificial Intelligence (AI) in customer service is one of the more prevalent examples of how this technology can truly transform an entire industry.
By 2030, we are most confident that the technology will have impacted process automation, including the elimination of simple tasks. Companies rate the anticipated impact on process automation at 3.96 on a scale of 0-5, with 0 representing “no impact” and 5 representing “major impact.”
Customer Service using AI and technology like machine learning (ML) to power decisions about the customer service journey and behind-the-scenes tasks that impact profit margins and efficiency. AI Solutions like BOTS easily recognize the voice triggers and provide relevant information and guidance without human agents.
AI in customer service makes human agents’ work much smoother by solving fundamental problems while support agents focus on complicated cases that require human knowledge, empathy, and attention.
As artificial intelligence becomes more advanced, customer service bots are becoming exceptionally fast learners. An AI bot can collect relevant data about customers and improve customer satisfaction, resulting in better customer service. Personalized and targeted support, fast response times, 24/7 availability, and multilingual support are some of the things that improve customer experience and bring new levels of customer loyalty.
Similar to Achieve Unmatched User Experiences with Conversational AI (20)
Using Adaptive Scrum to Tame Process Reverse Engineering in Data Analytics Pr...Cognizant
Organizations rely on analytics to make intelligent decisions and improve business performance, which sometimes requires reproducing business processes from a legacy application to a digital-native state to reduce the functional, technical and operational debts. Adaptive Scrum can reduce the complexity of the reproduction process iteratively as well as provide transparency in data analytics porojects.
It Takes an Ecosystem: How Technology Companies Deliver Exceptional ExperiencesCognizant
Experience is evolving into a strategy that reaches across technology companies. We offer guidance on the rise of experience and its role in business modernization, with details on how orgnizations can build the ecosystem to support it.
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The T&L industry appears poised to accelerate its long-overdue modernization drive, as the pandemic spurs an increased need for agility and resilience, according to our study.
Enhancing Desirability: Five Considerations for Winning Digital InitiativesCognizant
To be a modern digital business in the post-COVID era, organizations must be fanatical about the experiences they deliver to an increasingly savvy and expectant user community. Getting there requires a mastery of human-design thinking, compelling user interface and interaction design, and a focus on functional and nonfunctional capabilities that drive business differentiation and results.
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According to our research, manufacturers are well ahead of other industries in their IoT deployments but need to marshal the investment required to meet today’s intensified demands for business resilience.
The Work Ahead in Higher Education: Repaving the Road for the Employees of To...Cognizant
Higher-ed institutions expect pandemic-driven disruption to continue, especially as hyperconnectivity, analytics and AI drive personalized education models over the lifetime of the learner, according to our recent research.
Engineering the Next-Gen Digital Claims Organisation for Australian General I...Cognizant
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operations, customer service and the overall supply chain with market-differentiating capabilities to
achieve sustainable results.
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Achieve Unmatched User Experiences with Conversational AI
1. Achieve Unmatched
User Experiences with
Conversational AI
How leading organizations are using AI to improve customer interactions,
enhance efficiencies, reduce costs and increase revenue.
April 2020
2. Whether using voice assistants, chatbots, virtual
agents, smart speakers or even talking cars and
household appliances, bots are becoming integral
to our daily lives. They help us manage our homes,
place orders, transfer money and pay bills, provide
important information and solve problems
We are seeing accelerated change and complexity
in the conversational AI market that shows no signs
of slowing. The next wave of experience-oriented
artificial intelligence (AI) systems are blazing down
the track, led by innovations such as augmented
and virtual reality, computer vision, autonomous
things and edge devices. Embedded into these
new user interfaces are the analytics, insights
and intelligence to create more individualized,
contextual and valuable interactions.
We work with businesses across industries to
build exceptional customer-facing solutions by
developing and deploying not just bots but also
design-led conversational engagements. Whether a
client wants to improve its customer intelligence or
operations intelligence, conversational AI provides
the best possible connection to consumers and
business users. These personalized experiences
allow people to interact and retrieve valuable
information directly, without human agents.
Business leaders today need a plan to scale and
operationalize conversational AI while at the
same time continuing to build a modernized
data foundation to more broadly leverage other
forms of AI. With data flowing to and from all
these connected end points, businesses can
achieve greater functionality, personalization and
experience.
The following examples demonstrate the powerful
capabilities of conversational AI. They highlight
diverse approaches, products and technologies.
Collectively, they demonstrate what can be
delivered across an array of channels, interfaces
and requirements. These engagements can
help businesses identify where to begin the
conversational AI journey.
Matthew Smith
Associate Vice President at Cognizant and
Conversational AI Practice Leader
Foreword
Creating greater value with conversational AI
2 / Achieve Unmatched User Experiences with Conversational AI
“Whether a client wants
to improve its customer
intelligence or operations
intelligence, conversational
AI provides the best possible
connection to consumers
and business users.”
3. 3 / Achieve Unmatched User Experiences with Conversational AI
ContentsClick below to select a section.
4 Banking
Chatbot streamlines bank’s finance queries,
speeds claims
6 Capital Markets
Wealth manager cuts costs, boosts customer
satisfaction with conversational AI
8 Communications
Telecom supplier gets fast answers with
conversational bot
10 Consumer Goods
Automaker guides customer purchases
with conversational agent
12 Energy Utilities
Utility speeds customer queries with
voice-based search
14 Healthcare
Healthcare company makes smarter
decisions with voice-based AI
16 Technology
A human-centric approach ensures
adoption of revamped service portal
18 Travel Hospitality
Airline improves customer experience
with loyalty program chatbot
20 Get the Most from
Conversational AI
4. Banking
Companies in the banking industry are increasingly
turning to conversational AI for voice, message and
chat capabilities and the convenience it offers. Today’s
retail banking customers can experience personalized
financial management through the power of on-
demand conversational banking. They can hear and view
transaction histories, set spending and saving goals,
transfer funds, set and review bill payments, and send
money to family members, friends or vendors with ease.
5. The challenge
A large banking enterprise was looking for an
intelligent solution to reduce the high volume
of calls and requests routed to its finance
department by internal employees. The company
wanted an intelligent virtual assistant capable of
responding to queries related to financial claims
status, payments and approval workflows.
By assigning repetitive tasks to the chatbot, the
organization believed it could free the finance
department to focus on areas where people
add the most value, such as resolving conflicts,
solving problems, defining policies and making
strategic decisions.
Our approach
We worked with the bank to implement a virtual
assistant for employees’ financial inquiries.
The company chose us because of our strong
Microsoft Azure AI competency for consulting,
implementation and employee adaptation.
Employees engage with the virtual assistant
using both voice and text to resolve common
financial claims questions.
Using the enterprise’s single sign-on capabilities,
the intelligent assistant authenticates users
and retrieves relevant details from the related
SAP module using prebuilt data connectors.
It identifies the queries it cannot answer and
escalates them. It then collects all pending
issues, uploads them to the finance document
repository and assigns them to a particular user
for follow-up and closure.
The Microsoft Azure AI-based solution uses
custom speech and cognitive linguistic models
to respond appropriately to user inquiries.
Conversation transcripts and user feedback
are stored and regularly analyzed to recalibrate
cognitive models, continuously improving the
system’s accuracy and performance over time.
Chatbot streamlines bank’s finance queries, speeds claims
5 / Achieve Unmatched User Experiences with Conversational AI
RESULTS
Because it’s available 24x7 and scales
on-demand, the intelligent assistant
boosts accessibility, efficiency and
employee satisfaction. It has also cut
demand on its finance department
by 50%.
35% drop in emails
and calls to the finance
department in the first
month of operation.
50% reduction in emails
and calls after two
months of operation.
43% decrease in ticket
resolution time.
BACK TO INDEX Banking
6. Capital Markets
Conversational AI is empowering financial advisors with
augmented intelligence for precise, timely and accurate
next-best-action decision making for portfolio and
wealth management. These emerging conversational
digital assistants serve as engaging, personalized virtual
advisors and financial coaches for individual investors.
7. The challenge
A large U.S.-based wealth management
company was under pressure to cut operational
costs at its contact center. Its agents spent much
of their time responding to high-frequency,
low-complexity requests, which was draining
employee productivity and morale.
In addition to cost pressures, financial services
customers were also expecting to have their
questions answered quickly and efficiently online
— avoiding a phone call whenever possible.
Our approach
Recognizing that conversational AI provided
the best opportunity to both reduce operating
expenses and improve customer satisfaction,
and because of our extensive background in
the technology, the company turned to us for
assistance with deploying the new system.
We began by analyzing call center data and
selecting the high-volume inquiries that
represented optimal use cases to be automated
via the chatbot. Next, we analyzed the various
natural language processing platforms in the
marketplace that would meet all the client’s
requirements.
We then built and deployed a customer-facing
virtual assistant that automates inquiries
and transactions related to account balance,
withdrawals, loans and transfers. The system
performs live agent transfers through live
messaging and includes an interactive voice
response system. Next steps are to expand the
virtual assistant’s reach and functionality by
building and deploying an Alexa skill for market
updates, tax information and directions to the
nearest advisor.
Wealth manager cuts costs, boosts customer satisfaction with
conversational AI
7 / Achieve Unmatched User Experiences with Conversational AI
RESULTS
This customer-facing virtual
assistant automated over 400 of the
organization’s most common customer
inquiries. It responds to both general
questions and user-specific inquiries,
with continuous improvement based on
AI analytics and customer feedback.
$6.7 million reduction in
operating costs.
166,000
fewer calls.
5% improvement in the
customer experience
index score.
BACK TO INDEX Capital Markets
SEE THE FULL STORY »
8. Communications
Intelligent virtual assistants are transforming the
telecommunications industry by supporting millions
of daily customer requests and transactions. Chatbots
and virtual assistants deliver an enhanced customer
experience by deflecting simple customer requests,
automating and streamlining support calls and
intelligently augmenting service representative
responses.
9. The challenge
The key source of revenue for this telecom
infrastructure provider — selling parts to large
telecom providers — requires regular contact
with customers to discuss product availability. As
part of that contact, the support team needed
to handle a large number of repetitive inquiries
related to product part numbers and then submit
those numbers in a variety of ways, including a
company webpage, email and phone calls.
The process required the support team to
manually check multiple databases to retrieve
the necessary information. This slowed response
time and increased customer wait times.
Our approach
Working with the client, we created customer
journey maps to identify the pain points in the
existing process. Through these sessions, we
realized that a conversational bot could replace
much of the company’s website functionality and
significantly reduce agent call volumes.
The team built a conversational chatbot
leveraging Microsoft LUIS to enable search
capabilities on a cohesive master database of
parts and availability information. Using natural
language processing, the system enables
requesters to receive real-time results for product
information, parts availability and lead-time
information on unavailable parts.
We then built an internal bot for contact center
agents, enabling them to automate ticket
creation by integrating it with the company’s
customer relationship management system. With
this streamlined process, employees are now free
to handle more difficult customer inquiries.
Telecom supplier gets fast answers with conversational bot
9 / Achieve Unmatched User Experiences with Conversational AI
RESULTS
Our communication technology team
built and deployed multiple intelligent,
automated assistants to speed wait
times, check multiple databases for parts
availability and relay that information
back to the customer. We also developed
a virtual agent to automate manual
processes such as ticket creation for
contact center employees.
16% reduction
in call volume.
90% chatbot
accuracy rating.
50,000+ parts availability
and information
accessible via the
conversational agent.
BACK TO INDEX Communications
SEE THE FULL STORY »
10. Consumer Goods
Today’s consumers frequently experience hands-free
and screenless interfaces across the physical and digital
spaces where they live, shop, interact with friends
and family, and seek entertainment. Conversational
innovations are creating and guiding seamless customer
journeys with voice-based grocery shopping, location
services, shopping assistants, on-demand delivery and
re-order automation.
11. 11 / Achieve Unmatched User Experiences with Conversational AI
BACK TO INDEX
Automaker guides customer purchases with
conversational agent
Consumer Goods
RESULTS
We worked with the automaker to
make further enhancements and
provide additional use cases to the
chat experience. After implementing,
piloting and testing the capabilities in
one country, the refined conversational
agent went into live production. Next
steps are to roll out the system to 16
additional countries in 13 languages.
13% increase in car
configurator users.
5% increase in
interaction success.
~3% conversion rate
increase in the first few
months.
The challenge
A large automobile manufacturer had big plans
to drive digital transformation globally over the
next five years. Its goal: provide a seamless,
personalized omnichannel experience to
increase customer satisfaction and loyalty.
The plan included creating a best-in-class
chatbot assistant to guide customers throughout
their journey, from research to purchase and
beyond. To accomplish this, the automaker
needed a strong implementation partner
with automotive industry expertise and an
understanding of customer needs, the digital
experience and what it takes to execute a
successful rollout.
Our approach
Our consumer goods team started by reviewing
the company’s 2025 digital transformation goals,
and then devised a roadmap with details on what
it would take to create these capabilities and
successfully roll them out to additional countries
in multiple languages.
We applied our six-dimensional framework to
execute this end-to-end omnichannel solution.
This framework includes strategy, opportunity
analysis, architecture and technology, people and
skills, governance and organizational change
management.
Along with the framework, we provided a rollout
playbook with an in-depth execution plan based
on past experience and our expertise in the
digital space. This playbook included timelines
and budgets as well as our conversational AI
capabilities to achieve the automaker’s digital
transformation goals on-schedule. SEE THE FULL STORY »
12. Energy Utilities
Many of today’s utility and energy customers engage
with existing Internet of Things (IoT)-enabled devices
connected to their homes and daily lives. This dynamic
has conveniently set the table to support interactive,
conversational solutions that elevate adoption and
help satisfy evolving customer expectations.
13. 13 / Achieve Unmatched User Experiences with Conversational AI
BACK TO INDEX
RESULTS
The utility’s intelligent virtual assistant
answers questions about the status
of work orders based on proprietary
information in its database. The chatbot
also helps account executives and
account managers conduct customer
research more quickly, with less effort.
Because it’s easy to use and efficient, it
was quickly adopted by users, resulting in
improved customer interactions and an
enhanced customer experience.
Automates the research
process for the sales team.
Apprises sales personnel
on key factors related to
specific industries.
Reduces processing time
by providing research
materials through a click
or voice command.
The challenge
For a major U.S. power utility, customer
satisfaction is paramount. The company wanted
to enable its customer-facing personnel to
quickly and thoroughly prepare for upcoming
client meetings and fully understand customers’
industry and energy needs. The objective was to
improve interactions between its sales force and
customers using AI.
Our approach
Our utilities industry team examined how
subject-matter expertise could be delivered
to customers via voice-activated, AI-driven
chatbots and then developed use cases and
solutions. The chosen chatbot solution enables
executives, account managers and field-service
technicians to conduct research using voice
commands or typed queries. Using voice-
activated search technology and an application
programming interface (API), the solution gives
users organized and detailed responses to their
questions.
The machine-learning functionality of the AI-
driven chatbot also helped the utility build a
knowledge hub that uses AI to answer IT-related
questions related to tracking the progress of
particular work orders.
Utility speeds customer queries with voice-based search
Energy Utilities
SEE THE FULL STORY »
14. Healthcare
Advances in conversational technologies are helping
healthcare providers, payers and clinical services
organizations deliver more personalized and contextual
interactions throughout the patient journey. Chatbots
and voice assistants increase engagement, improve
patient trust, encourage patient adherence and influence
positive health outcomes. Today’s conversational
interactions are generating real-time data that better
informs healthcare and support teams, resulting in more
contextual, personalized care.
15. 15 / Achieve Unmatched User Experiences with Conversational AI
BACK TO INDEX Healthcare
RESULTS
The tool quickly responds to queries on
patient responsibility, coding and billing.
Using artificial intelligence, the system
analyzes claim rejections, physician
productivity, collection performance,
modality analysis, coding profiles and
back-office operations, as well as payer
and payee transactions.
88% reduction in
manual effort.
45% faster decision-
making based on
real-time insights.
~30% increase in
operational processing
with sustained
information accuracy.
Healthcare company makes smarter decisions with
voice-based AI
On-demand support for
healthcare consumers
Conversational AI is quickly
changing the healthcare
experience for doctors and
patients via chat, messaging
and voice. With on-demand and in-the-moment
secure access, patients can answer questions
and get status updates as well as receive
HIPAA-compliant data, records and results.
By automating physician record-keeping,
healthcare organizations can enable caregivers
to spend more meaningful time with patients.
Learn more here (video.)
Voice assistants fill the
insurance information gap
Intelligent, interactive voice
assistants are filling the
information void for healthcare
consumers by quickly answering
common questions and responding to frequent
requests. They are empowering consumers
and caregivers by replacing the tedious search
process during enrollment and coverage
selection, and guiding where to go for treatment
— providing clarity in the moment. Given a
choice, healthcare consumers are showing they
prefer conversational, self-service solutions that
simplify engagement and keep them in control.
Learn more here (video.)
The challenge
A U.S.-based healthcare company wanted
to better utilize its organizational data and
apply intelligent analytics to optimize business
processes. The company provides revenue cycle
management solutions that engage patients and
assist physicians to improve hospital processes
and financial results.
Over time, the organization has generated
thousands of reports, aggregates and metrics
compiled in multiple formats and stored in
myriad locations with varied entitlements. It
sought an automated approach to discover
insights, search relevant reports and visually
represent trends so team leaders could take the
next-best action. The company also wanted a way
to field requests and present details in real time
for relevant metrics, measures and dimensions.
Our approach
We developed an intelligent system that
“converses” with users and provides not only
specific information but also in-the-moment
synopses from underlying analytics. Using
Microsoft’s Azure AI platform, we built a smart
business operational assistant that answers
business analytical queries in real time using
natural language processing.
With the system, stakeholders gain a better
understanding of business processes using
the most relevant metrics, generated by the
latest insights from on-premise or cloud-based
enterprise data, including information from CRM
software, precompiled reports and statements.
The AI-based system learns and understands
acronyms, and it provides natural-language
narratives of visual charts. The tool also supports
smart integration with multiple communication
channels in a variety of languages.
16. Technology
As technology companies seek to provide solutions
for digital transformation, customer intelligence and
operational insight, conversational AI is becoming a
critical enabling factor. The confluence of conversational
capabilities, data analytics, AI and machine learning
provides powerful experiences that fuel operational
efficiency and enhance customer engagement.
17. 17 / Achieve Unmatched User Experiences with Conversational AI
BACK TO INDEX Technology
RESULTS
With enhanced features such as
improved search by keywords and
a virtual assistant, the revamped
portal quickly became the one-stop
destination for the service needs of the
company’s more than 7,000 employees.
81% increase in
employee adoption rate.
Improved productivity
and time to market
through consistent
design features.
Increased self-service
tickets through an AI-
powered virtual assistant.
The challenge
A cloud company’s service portal lacked a
human-centric design, leading to an inconsistent
user interface (UI), fractured information
architecture and poor navigation features.
Although the company’s cloud-based service
portal was known for its robust, configurable
features and workflow, its customers wanted a
more consistent, innovative and intuitive user
experience across every scheduled six-month
product release. The company approached
us to reimagine the platform and roll out the
revamped portal to its employees globally.
Our approach
After auditing the company’s applications
and hosting design-thinking workshops, we
proposed an employee-centric approach to
designing enterprise service management
applications, supported by guiding principles
and a design theme suitable for all IT
applications.
We centralized the platform’s information,
making it contextual and easy to find, which
facilitated early adoption. We also introduced
global smart search, personalized dashboards
and AI-driven chatbots to the platform, as well
as a knowledgebase that provides additional
insights, such as “top-rated” and “most-viewed”
content.
In addition to developing scalable and responsive
designs for mobile and desktop use, we created
a living UI toolkit so designers and engineers
could reuse component design styles, ensuring a
consistent experience across applications.
A human-centric approach ensures adoption of
revamped service portal
SEE THE FULL STORY »
18. Travel Hospitality
The travel and hospitality industries are leveraging
intelligent virtual assistants to deliver customers hyper-
personalized concierge experiences. Voice, message and
chat capabilities allow travelers to effortlessly find, book
and manage their travel and stay choices. Customer
support and brand protection teams augment the
contact center and social media teams with intelligent
solutions that reduce costs and increase customer
satisfaction.
19. 19 / Achieve Unmatched User Experiences with Conversational AI
BACK TO INDEX Travel Hospitality
RESULTS
Our conversational AI team delivered
a virtual agent that answers over 50 of
the most common customer inquiries
relating to its loyalty program. Learning
over time, the intelligent bot effectively
contains and leverages relevant
“conversations,” reducing the load on
contact center agents by responding to
high-frequency inquiries.
1,200 conversations
automated each week by
the software agent.
80% containment rate
by the virtual assistant.
90% chat program
accuracy.
The challenge
After witnessing a shift in how consumers
engaged with its contact center, a midsize
international airline decided to find new ways to
connect with customers who called the contact
center instead of using its frequently asked
questions page. The airline wanted to reduce
direct call expenses while also providing 24x7
support.
A particular pain point was the volume
of customer loyalty program inquiries.
Recognizing the potential for conversational
AI to simultaneously reduce call volumes and
improve customer satisfaction, the airline sought
our travel hospitality technology expertise to
develop a customer-facing intelligent assistant to
automate these inquiries.
Our approach
We began by evaluating many natural language
understanding platforms to determine the
appropriate technology stack. Based on the
client’s business objectives, we recommended
Google Dialogflow because of its ability to
escalate issues to an employee using the
LivePerson chat platform.
We mapped the conversation flows and provided
chatbot training, which grew in complexity
over time as the number of user cases grew. To
mitigate use-case conflict, the team leveraged
a series of best practices built from previous
engagements and performed frequent
regression testing to ensure the bot’s accuracy
rate. The intelligent assistant was then deployed
on the airline’s website, where it automatically
handles both straightforward and complex
customer conversations regarding the airline’s
loyalty program and escalates issues when
necessary.
Airline improves customer experience with loyalty
program chatbot
SEE THE FULL STORY »
20. 20 / Achieve Unmatched User Experiences with Conversational AI
Across all industries, our conversational AI teams help clients build new ways to engage with
customers. Our developers have deep knowledge in these technologies and techniques,
with approaches to deploy projects quickly and successfully. Through repetition, we’ve built
expertise that separates our projects from those executed by others.
Conversational AI is improving the way businesses engage with their customers. We are
helping our clients operationalize and accelerate the adoption of these technologies so they
can exceed customer expectations through the use of voice interfaces, chat and messaging.
Virtual agents are now emotionally intelligent enough to sense frustration or concern, for
example, and alert agents when human assistance is required to resolve an issue.
For more information, please visit www.cognizant.com/conversational-ai.
Get the most from conversational AI
Learn more about the Cognizant difference