Einstein 1 Powered Experiences for Financial Services

AI is revolutionizing business, from sales to service the impact this new technology is driving is undeniable. Financial services is one industry that can largely benefit from these new technologies. Read more about how AI is impacting Financial Services and the contact center!
The Outcomes
 Einstein 1 Powered Experiences for Financial Services

Picture this: your Contact Center is buzzing with activity, but instead of overwhelmed agents scrambling to answer calls, a calm efficiency reigns. Chatbots handle routine inquiries with wit, AI analyzes sentiment to anticipate customer needs or even proactively reaches out to prevent issues before they arise. Agents are equipped with the tools necessary to complete tasks with just the click of a button quickly. Too good to be true? Wrong! 

AI is no longer science fiction, it’s here, and it’s ready to transform your customer relationships. Robotic voices and emotionless interactions are a thing of the past. AI can add a human touch rather than replace it. But how? Let's break down how AI is strengthening contact centers across the globe. 

Customer: Self-service and Resolution

Chatbots & IVR Virtual Assistants

Chatbots have long been used to answer some of your customers FAQ’s or help with some of the more repetitive tasks. In reality, these relied heavily on the development team's manual efforts as they tried to best match your customer's questions with a set of guided answers or steps. 

Intelligent search and knowledge bases

AI can power advanced search tools within the customer self-service platforms, helping customers find relevant information quickly and easily in a digestible conversational format. But rather than relying on purely external intelligence tools, AI can be grounded from relevant information directly from your knowledge base. As you continue to interact with Customers and update your procedures AI can continue to learn and provide the most relevant up to date information currently available.

Agents: Support and Empowerment

Real-time Agent assist

Fig 1: Neuraflash Agent Assist

Agents have long tried to assist customer queries efficiently while skimming through up to date procedures and knowledge articles all while trying to keep their agent handle time (AHT) metrics low. AI can analyze conversations in real-time and provide real-time suggested feedback. For chat agents, suggest responses to customers questions which have been grounded by your internal knowledge base or enhanced with external data. For email Agents, auto compose email replies or suggest helpful paragraphs to include. When wrapping up conversations or summarizing an interaction, allow AI to take the manual lift and provide suggestions to common closure fields. 

Sentiment analysis and escalation detection 

AI can detect customer sentiment throughout an interaction, altering agents to potential escalations and allowing them to proactively address concerns. This can improve customer satisfaction and prevent negative experiences. 

Compliance & Fraud Detection

Risk assessment and anomaly detection 

Identify suspicious activity in real-time to help prevent fraud and protect sensitive information. Flag Customers for unverified identity methods, match suspicious transaction patterns in Customer interactions and create processes to stop or flag Customers for further investigation. This is crucial for financial institutions adhering to strict compliance regulations. 

Voice authentication and biometrics

Secure voice authentication can verify a Customers identity through voice patterns or bother biometric markets. This adds an extra layer of security and prevents unauthorized access to Accounts beyond having a caller verify their identity information directly to an Agent.

Personalized Customer Experiences

Proactive outreach and personalized recommendations

Analyze your customer data to understand their needs and preferences. If a customer is interrupted or abandons an application of a new product, use this opportunity to proactively reach out to them and see if they need assistance or have questions in order to help conversion. Alternatively offer up suggested products or features to your Customers based on their profile match with others or their loyalty. Unlock even more potential by offering up these suggestions to agents during the support process to unlock cross selling opportunities. 

Language translation and accessibility 

AI-powered translation tools can facilitate communication with customers in different languages, ensuring inclusivity and a seamless experience for everyone. 

Overall, AI adoption in the financial services industry requires careful consideration of data privacy regulations or ethical support practices. Transparency and responsible use are key to building trust with customers and ensuring success. 

AI is not just about deflection and self service. Financial institutions can utilize these tools to empower Agents to more effectively provide support, meet Customers at any point in their lifecycle and create a more efficient, customer-centric and secure contact center enhancing both customer satisfaction and operational effectiveness.

NeuraFlash and Generative AI

NeuraFlash has a strong history in the AI field, initially pioneering automation, particularly in Bots and later in Service Cloud Voice. With over a decade of bot experience, we've become NLP experts, which naturally led us to delve into large language models like GPT and generative AI.

We've witnessed firsthand the tangible benefits automation brings to businesses, which has motivated us to hone our expertise in this field. We're now well-equipped to maintain our leadership in this innovative space!

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