Imagine this scenario: A customer is peacefully driving along the road near one of your bank branches, daydreaming and listening to his favorite tracks. Suddenly, he realizes he forgot about something he can easily solve with one of your supportive branch employees. He stops the car, parks outside the building, and heads straight in. What happens next? Will your branch be prepared to provide a seamless and innovative experience that sets you apart from competitors?
How advanced is your branch's digitalization and automation? Can your customers use their debit and credit cards in combination with their smartphones to perform services independently and quickly in the branch without relying on a customer advisor? Perhaps you have geolocation technology that recognizes and welcomes them the moment they enter. Maybe they can schedule a meeting with a specialist or receive a virtual queue ticket directly on their mobile phone. If there’s no branch relation manager available on site – why not to give him a chance to solve his case during online meeting in one of the available, private rooms?
Improving Customer Experience with Bank Branch Automation
Consider the impact of such seamless service on your customer. Would mentioned solutions change you customer’s perception and attitude towards you? Would it give him the feeling that you’re miles ahead of your competition? We truly believe that it would likely elevate their perception of your bank, positioning you as a leader in innovation, positively impacting the sentiment. But this is just the beginning.
A crucial question we posed was: How can we bridge the gap between scheduling a meeting and participating in it, making the most of waiting time? Whether it’s an unexpected visit, a postponed meeting, or an early arrival, customers often end up mindlessly scrolling through their phones. Instead, why not automate the process, saving time for both employees and customers?
Leveraging AI with Customized Chatbot / Videobot Solutions
Picture your bank branch, where digitalization and automation seamlessly enhance every customer interaction. This isn't a distant dream but a reality we can help you achieve. Tailored chatbot and videobot solutions can be seamlessly integrated into your existing infrastructure, whether hosted on-premise or adapted to your specific needs, ensuring top-notch security and accessibility.
Having a chatbot / videobot solution available for your branch processes definitely meets the criteria we’ve just described. Such technology, powered by a finetuned Large Language Model (LLM) specific to your organization, would be able to:
- Initiating Communication: Instantly engage with customers as they enter the branch, providing a warm and personalized greeting.
- Authenticating and Authorizing Users: Securely verify customer identities using credit card information or mobile authentication.
- Introducing Branch Employees: Facilitate smooth introductions to branch employees, enhancing the personal touch.
- Gathering Initial Information: Collect relevant customer information upfront, streamlining subsequent interactions.
- Answering Branch-Related Queries: Address common questions and concerns without the need for human intervention, freeing up staff for more complex tasks.
- Assessing Sentiment Throughout the Interaction: Monitor customer emotions to ensure a positive experience from start to finish.
- Summarizing Conversations: Provide detailed summaries for branch specialists, ensuring they are fully informed before engaging with the customer.
Some cases might be entirely resolved by the chatbot, but our goal is a smooth transition from automation to human expertise. Recognizing the risk of “False-Positive” scenarios, especially in sensitive areas like loans, we recommend leaving final decisions to your specialists, supported by AI-driven recommendations based on customer data and initial automated interactions.
Maximizing Opportunities Beyond Transactions
Customer transactions are just the beginning of what can be achieved in the branch. Leveraging the positive sentiment generated during customer interactions presents a significant opportunity. Instead of overwhelming customers with generic marketing, you can offer precise, data-driven product recommendations based on customer segmentation.
Your organization already possesses valuable Big Data. With our expertise, this data can be transformed into advanced Customer Segmentation and Product Recommendation Machine Learning models. This approach not only enhances customer satisfaction but also boosts sales effectiveness, ensuring your marketing efforts are both targeted and impactful.
Business Challenge
- Understand unique customer needs and preferences for more personalized offers.
- Overcome fixed segmentation limitations that hinder product targeting, affecting effectiveness and profitability.
- Increase sales conversion and profitability while minimizing operating costs of advisors and employees.
Axxiome Proposal
- Our advanced ML-based segmentation and recommendation models analyze multiple features, including customer behaviors and historical data.
- Provide personalized product recommendations via online and mobile banking, chatbots, and support for advisors.
- Use insights for targeted customer campaigns and improved decision-making processes.
Value and Benefits
- Better customer understanding and engagement with specific groups.
- Enhanced decision-making and support for banking advisors.
- More efficient, automated campaigns with reduced acquisition costs.
- Higher sales effectiveness, improved customer satisfaction, and enriched customer insights.
Input and Output
- Input: Customer attributes, owned products, transactions, and operation history.
- Output: Probability scores for product recommendations tailored to each customer.
Join Us in Shaping the Future of Banking
If you’re interested in learning more about our solutions or the technologies discussed in this blog, please connect with Krzysztof Gruszewski or Markus Schuderer directly on LinkedIn or contact us through our contact form.
We will be publishing our AI/ML Assessment Survey soon enough on our LinkedIn, so stay tuned! It’ll be a great way to give us an initial status about your organization and follow up with our analysis of your responses.
Let’s get in touch - we’re more than eager to partner with you in driving the future of banking innovation!
