Tech Time: How to leverage AIOps to deliver a personalized and secure member experience
Artificial intelligence tools have the power to build resilience into your credit union's technology platforms across data, security and the cloud.
Even when consumers give 10 out of 10 on satisfaction with their primary financial institution, McKinsey research has found that only 7% of them buy new products there. In the current era of digital banking, traditional metrics like customer or member satisfaction and net promoter score are no longer reliable indicators of an ongoing and profitable relationship for banking, financial services and insurance companies. Today, member experience has become the key service offering and differentiator.
Every aspect of the business—tech or otherwise—must be geared towards delivering a meaningful, consistent and omnichannel member experience. Artificial intelligence for IT operations (known as AIOps) can be an important tool for credit unions to deliver a personalized and differentiated customer experience.
How the pandemic impacted the member experience
As of a 2017 survey, 80% of all customer touchpoints with their primary FI were digital, and this has grown exponentially since COVID-19. For instance, before the pandemic, most consumers used digital channels for everyday transactions, checking balance or payments, and only went to a bank or credit union branch to explore new products or ask for advice. In the aftermath of the pandemic, however, financial institutions have been forced to offer some of the most complex products, such as mortgages, digitally.
continue reading »
