Enhanced IVR Vs AI-Powered Call Center
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In the financial ecosystem, with everyone offering nearly the same products and services, there is less room to compete on price; the experience customers have with their financial institutions is what differentiates one from another. Earlier, individuals with mobile phones could receive text messages containing banking/account information, & this
Case Study - How financial institutions are successfully navigating operational challenges during mergers & migrations with interface.ai’s AI Call Center
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There have been a few significant trends in the financial industry over the past several years. One such trend is consolidation among Credit Unions and Community Banks. For instance, there were nearly 24k Credit Unions in the United States at the peak of the Credit Union movement; this has since
People Helping People - Where is the room for AI?
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‘People helping people’ was the philosophy the credit union movement was founded on. It has been over a hundred years since the incorporation of the First Credit Union in the US - still, Credit Unions continue to operate with a ‘people-first’ philosophy. Millions of Americans & under-served communities have benefited
Should financial institutions consider upgrading their existing call center system before considering an Intelligent Virtual Assistant?
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The answer is ‘No.’ This is because the Intelligent Virtual Assistant(IVA) could be set up even if you don't have a call center system in place. Also, upgrading the existing call center will cause a delay leading to a significant opportunity cost. Let me explain this in more detail.
Re-direction bots & poor customer experience
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One thing is certain, offering exceptional customer experience is always the foremost agenda for financial institutions. Providing exceptional customer experience is at the core of their offering and is crucial for them to thrive. With the new normal setting in, customers are increasingly going digital and adopting self-serve channels. Chatbots
A Guide For Executives Of Financial Institutions To Pick The Right Intelligent Virtual Assistant Vendor
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(Author: Srinivas Njay, Founder & CEO, interface.ai) Introduction Over the past few months, the adoption of Intelligent Virtual Assistants (IVA) has skyrocketed among Financial Institutions. This rapid increase in adoption was triggered by the pandemic and its impact on the traditional modes of banking. During this period, several financial
Celebrating Credit Unions & The Sense Of Community
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Today, on the occasion of the International Credit Union Day, I wanted to take a moment to revisit the history of the credit union movement in the United States & truly appreciate the large-scale impact it has had on the various communities & the country as a whole. It is
Enabling Efficient, Compliant & Customer-Friendly Debt Collection Practices with Artificial Intelligence
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Debt collection remains one of the top challenges facing financial institutions today. Due to their business nature, financial institutions regularly undertake risks such as delinquencies & defaults associated with lending. Global consumer debt is estimated to be over $46 trillion. More than one in four Americans (28 percent) have at
