How banks can leverage AI at the contact center

Banking contact centers frequency get trimmed when institutions have to cut back on expense. A veteran bank marketer and innovator says this is a misguided decision.

The primary strategic goal for most banking organizations is supposed to be meeting customer needs and wants. By and large, banks and credit unions say they differ from each other by the quality of their customer service. And yet, the contact center, tasked with providing customer service, is usually not the best funded part of the bank.

Why? Most bank executives see the contact center as a cost center and nothing else. Whenever an institution looks at efficiency the contact center, along with branches and the back office, are asked to contribute.

With the increasing interest in artificial intelligence, particularly conversational AI, the contact center is in the cross hairs for optimization and cost take outs. However, as many organizations are learning, replacing human beings with chatbots can be fraught with danger in a banking context.


continue reading »