Financial technology companies are becoming a great threat to traditional banks and are in conditions to replace them.In recent years the popularity of these has grown exponentially thanks to its flexible commercial practices.Therefore, we cannot avoid asking us a simple question, can they remain relevant?This can happen, if traditional banks decide to adopt artificial conversational intelligence for their benefit.
Due to the Covid-19 Pandemia, banks are mostly working through the Internet, although it is possibly not enough to survive and less to prosper over the years.
In this article, we will see several ways that traditional banks can survive thanks to the conversational to remain relevant in the digital age.
Payment methods without contact
The current situation forced banks to offer non -contact payment methods.According to a study by Mastercard, 79% of respondents use payment methods that do not require contact.This means that this kind of payment methods increased more than double during the last year.The conversational can help to meet these needs even more.
Banks must use the power of artificial intelligence attendees for the benefit of their clients and make transactions more agile and convenient.In this way, the client should not be forced to visit a bank physically and talk to a person to complete his transaction.
Omnicanal banking services
Possibly on the occasional occasion you heard the word "omnicanal", especially in marketing and retail trade.Soon you will reach banking and finance.The problem was that betrayal banking services did not offer omnicanal services.
Let's realize that we need to send money, request a credit card, a loan or pay your debts, it would be ideal to be able to do it through some messaging application thanks to the conversational technology.
A career for survival
If traditional banks want to survive in the digital era they have to adopt conversational artificial intelligence.It is one of the first technologies that they should adopt to achieve it.As it progresses it becomes more effective, you can handle a large number of consultations automatically and immediately, something that is extremely positive for both the client and the bank.
Not to mention the savings of resources that this could generate in terms of employees.It is not necessary to hire representatives for customer service and neither train them, this is much more agile and fast.
Increase income
A great benefit of the conversational is that it helps to generate more customers and less expenses, which inevitably increases income.As the AI interacts with customers, it is much easier for users to identify their patterns and preferences.This will adapt it to their needs and generate a personalized experience.But always, the most important thing is the immediate response capacity.
Another way to use this data can be to create custom products and services for your customers and thus be able to meet all your needs.Thanks to this we are very likely to see how banks focus most of their resources to develop and improve the famous chatbot instead of applications.
Adaptability
To the rhythm to which finance is evolving around the world, it forces banks to quickly adapt to changes to keep afloat.The advantage of adopting a conversational is that it helps to respond to all these changes in an agile and immediate way.
As the conversational the AI has intelligent cognitive, it gives the possibility to the banks to give new offers, respond to the requests of their customers taking into account the change of the market and the industry quickly and precisely.
This is something that makes Covid-19's pandemic very clear where people are very focused on making contactless payments, from the comfort of their home.Payment systems that adapt and want to survive in the future must adapt to these current needs.
The most interesting thing about this is that, it is very likely, that people get used to making their payments and procedures in the future in the future.Once we return to normal or as close as possible, people will be accustomed to carrying out their procedures in this way.Which means that, there is no going back.
The elimination of inherited systems
Banks are also imprisoned with inherited systems, these systems have great sums of money annually.The growth of customer expectations grows more and these systems cannot meet all the needs of them.
Over the years, these systems become older and less effective.It is important to put aside inherited systems and adopt conversational AI and cloud storage to save all data.In this way they can become much more accessible, safe and scalable.
What translates into an increase in the operational efficiency of banks and the elimination of inherited systems will mean considerable resources saving.
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