How AI-driven conversational intelligence can deliver superior customer experiences for financial services firms

This article explains three ways AI-driven conversational intelligence can improve customer experience.

(1) Use an empathetic approach to improve customer satisfaction

Conversational intelligence provides scenarios around the “why” and “how” to improve customer satisfaction (CSAT) and Net Promoter Score (NPS) and other key indicators. It provides a deeper understanding of the end-to-end customer journey, giving financial services companies the opportunity to proactively address real customer needs and deliver a more personalized customer experience.

Although it sounds counterintuitive, artificial intelligence can actually promote greater empathy and more human agent and customer interactions. It allows human agents to use tone-based sentiment analysis to focus on how customers are feeling and dig deeper into what makes an experience positive or negative. It also enables business executives to verify whether their teams are using effective empathic ways to contact customers and discover why certain contacts are being escalated so they can better train team members to change strategies.

(2) Improve conversion and retention rates

On average, financial services companies can only handle 0.05% of contact center calls using traditional manual methods. However, artificial intelligence enables them to automatically transcribe and analyze 100% of customer interactions and instantly act on a range of insights to improve customer conversion and retention.

Using this conversational intelligence, financial services companies can better understand where exactly customers drop off, which types of conversations create the most positive experiences, and what specific factors impact the effectiveness of human agents. For example, AI can identify opportunities for human agents to quickly identify negative customer sentiment and provide recommendations for correction. This fast and specific feedback also provides human agents with personalized coaching opportunities, motivating them to improve their performance.

(3) Give customers what they need

Last but not least, conversational intelligence enables businesses to make smarter data-driven decisions, including but not limited to better Support and Service.

Insights gleaned from customer interactions can help marketing teams deliver more targeted and relevant campaigns based on customer response and feedback on new products. It also reveals the main pain points and unmet needs that the product team is thinking about and solving. It further provides sales teams with the insights they need to close more business. In short, every customer interaction delights customers and keeps them coming back, while also uncovering business improvement insights that impact every function of the enterprise.

Using Artificial Intelligence to Empower Employees

Financial services companies can improve by proactively resolving customer support issues, improving customer satisfaction and customer retention, and creating products and services that continue to set the benchmark. its competitive advantage. AI-powered conversational intelligence enables financial services companies to augment the work of human agents to create memorable, compassionate and impactful customer experiences.

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