Published on 31 October 2023

Banking as a Service: Transforming the Contact Center into an Impact Center

Words by:

Annisa Nur Fauzi

In today’s banking landscape, the concept of traditional customer service is evolving rapidly. The traditional contact center is no longer just a place for addressing customer queries and issues; it has become the nerve center for creating meaningful and personalized banking experiences. The aim is to make every interaction with the customer an opportunity for building deeper relationships. 

Therefore, Albert Tay, Director of Financial Services from Genesys shares about the transformation of contact centers into “impact centers” through the adoption of Banking as a Service (BaaS), AI-powered experiences, and connected customer journeys. He said that we should make Meaningful Conversations, which are Personalized, Effortless, and memorable. 

In the world of modern banking, a meaningful conversation involves personalization, effortlessness, and creating memorable experiences. This means incorporating empathy touchpoints, harnessing the power of AI, considering employees as differentiators, and providing end-to-end customer lifecycle experiences. It’s all about rethinking the traditional banking experience. Also, he talked about Rethinking the Banking Experience. At the core of this reimagined banking experience lies a deep understanding of customers to foster more profound and meaningful relationships. Banks are no longer just transactional entities; they are now partners in the financial journey of their customers.

The next step is reimagining customer experience (CX) through connected journeys. This involves visualizing the full customer journey, enhancing contact center analytics to uncover friction points, and designing a better CX that spans the entire enterprise. Then, imagine a customer’s journey that begins with visiting the bank’s website to learn about wealth products. It then seamlessly transitions to engaging with a chatbot, making an appointment, visiting a branch, and ultimately making informed financial decisions. This connected journey reduces customer effort, abandoned journeys, and increases digital content utilization and self-service rates. 

The point of this transformation is powered by Generative AI and Conversational Banking. Web and mobile banking apps, virtual assistants, IVR calls, teller assistance, and survey requests are all part of this ecosystem. Conversational AI automates repetitive tasks, identifies the best resources for desired outcomes, and escalates resolutions using AI-powered knowledge and rich media.

Even as AI plays an essential role in modern banking, the personal touch remains crucial. Online banking, customers’ channels of choice, asynchronous chat, mobile banking, and video interactions all contribute to building and maintaining meaningful relationships. 

So, how about Generative AI at Genesys Today?

Albert said that Genesys, a pioneer in the field, harnesses the power of Generative AI to create better customer and employee experiences. They are continuously expanding the use of Generative AI for CX and EX, making Genesys Cloud CX an open platform for innovation, including Generative AI. Genesys and other innovators in the field are leading the way toward a more connected and AI-enhanced future in banking. (ANF)

%d bloggers like this: