In the age of self-driving cars, additive “3D” manufacturing processes, and self-flying delivery drones – how can financial institutions capture similar opportunities enabled by continual advances in sensors, artificial intelligence, and autonomous process automation?
Financial institutions need deep analytics solutions that:
1. Start by allowing the definition of the desired business goal like growing market share, decreasing customer churn, increasing profitability – or even simultaneous combinations of these strategies.
2. Use Artificial Intelligence in a self-learning mode, to continually optimize to the desired goal.
3. Combine Machine Learning and AI algorithms with effective data management – all linked with opti-channel delivery channels. This gives FI’s the ability to execute sophisticated, automated marketing and customer management programs, with few manual processes and minimal human intervention.
4. Take advantage of more and more value-creating opportunities (sales, marketing, financially accretive service interactions), to be more responsive to changes in the market place, and to significantly reduce marketing expenditures.
To achieve Customer Experience 2020, FIs need to:
- Develop insights faster and be smarter about prioritizing their customer interactions to achieve their financial and other goals…
- Act on those insights right away and be more responsive to changes in the marketplace – beating competitors to market opportunities…
- Automatically learn from the insights and be more efficient and operate more effectively at the lowest possible cost levels…
To learn more about Customer Experience 2020 and automated FI’s download our full white paper on our main website.
To learn about RedPort’s deep learning analytics technologies click the links below:
SmartBanker: Self-Learning analytics and marketing platform for banks, credit unions, and consumer lenders.
SmartInsurer: Self-Learning analytics and marketing platform for insurance providers.