Digital customer dialogue of the future – part 2

We take a look at the digital future in our “Digital customer dialogue of the future” blog series. In part two we delve into banking: digitization is fundamentally changing the banks’ traditional business model. What are the consequences? We have put together a few scenarios and recommended actions from the W.I.R.E. “Decoding Digital Marketing” study for you.

On behalf of BSI, the think tank W.I.R.E. sought answers regarding the future of human-machine interactions.

Man vs. Machine in the banking sector

When banks talk about digitization and automation, they usually are talking about their processes, which should be handled as digitally as possible. But digitization can do more than digital onboarding or assuring that regulatory requirements are met: banks can tell stories; stories that tell the tale of life; stories in which the customers and their needs play the main role. In combination with digitization, this opens opportunities for trustworthy and long-lived customer relationships. The basis for doing so is an appropriate technical infrastructure, consolidated customer data and intelligent tools for designing the customer experience of the future.

Scenarios offering a peek into the future of banking

The scenarios relevant for banks in the latest “Decoding Digital Marketing” study by the W.I.R.E. think tank conducted on behalf of BSI range from values, virtual interactions and on to hyper-personalization. As a CRM and CX partner to banks and financial services providers, for us this means: in the age of digitization, reliability, security, transparency are more important than ever. Customer focus means offering creative services. Long-term, sustained relationship management is at the forefront in this regard. This creates trust.

Along with advances in the area of virtualization, new customer interaction possibilities are also opening. Video consultation, chatbots, AR and VR solutions can help to better explain financial products. Virtual consultation is a useful upgrade. Customers expect a seamless range of services and consultation options through the channels relevant to them.

Banks of the future…

  • …will focus their activities more towards their core business.
  • …will seek new partners to cooperate with, thereby improving the benefits for customers through “ecosystems”.
  • …will use digitization as an opportunity to differentiate, by assuming an uncompromising customer perspective and combining this with their strength – customer proximity.

Summary

In the face of advancing automation, it will be people who make the difference in the future as well. While intelligent machines generate certain useful recommended actions for a consultant, it is the person who ultimately decides what services are effectively offered during a personal consultation.

The software for digitalizers

There will always be financial services, but where can digitization and automation improve the customer experience and reduce manual tasks? The digitization platform BSI Studio enables you to eliminate manual processes and data silos – for customer-friendly real-time reactions and an improved customer experience. This makes it possible to actively design the future customer dialog.

See BSI Banking

Marketing Automation 4.0: Automate interactions and react to customers in real time with BSI Studio.