The Impact Of Coronavirus On Banking Operations
In our previous blog 'The impact of Coronovirus on Banking operations', we highlighted how the Coronavirus outbreak is already impacting financial markets and this has an immediate effect on the core business of financial institutions.
Even with the looming business slowdown and social restrictions, many financial institutions are attempting to operate as usual by providing guidance to their customers on how to safely bank with them. However, with the rapid growth of infection comes fear and this has led to a significant impact on day to day operations of financial institutions.
Fulfilling Customer Requests
During this challenging time, customer service plays a pivotal role in maintaining positive relationships with customers, who are an indispensable part of a financial institution.
With over 50% of Americans preferring to interact with a Financial Institution over call centers and branches, these channels are key for customer engagement. However, service through these channels has been severely disrupted because of increased call volumes and reduced staff availability.
Abandoning customer service requests at such a time will result in losing customers quickly and further compound the loss of revenues and profitability.
Fulfilling Customer Requests While Reducing Operational Costs
Financial Institutions can set up an AI-powered instant call center to successfully handle customer requests and reduce operational costs.
Here is how the AI-powered instant call center will work -
- The Financial Institution will be provided with a new phone number.
- The Financial Institution is expected to educate its customers to call this new phone number for any queries.
- Customers calling this number will talk to the AI assistant instantly.
- The AI assistant will respond to all informational queries.
- The AI assistant will fulfill all the transactional queries by guiding members to use online and mobile banking.
- No integration to existing systems is necessary.
- It can be set up in 1 day
With AI-powered instant call centers, Financial Institutions will be able to reduce operational costs by 5X and provide exceptional support.
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Also read our blog on: Digital Assistants- The magic solution for the problems that plague contact centers