With a majority of adults choosing to bank online or on their mobile devices, it’s no surprise that IT leaders are being challenged to amp up the user experience.  

Innovation is a tool of the trade for today’s CIOs, with leaders from across the business looking to IT as the answer to poor customer experiences. Integrated platforms and advanced automation solutions are making waves throughout the business and marketing world, specifically for their ability to tailor unique experiences for each customer based on engagement. Machine learning algorithms are increasingly being used in concert with predictive analytics as a way to “guess” what customers will need and present telephone and chat-based support staff with the next-best-action based on past activities across the web, in-store purchasing and email activity. Pulling together all these disparate data sources is a challenge that is not easily solved — but are achievable — with the help of today’s next-generation solutions. Nowhere is this more important than in FinTech, where a single customer engagement can lead the way to significant lifetime value for the enterprise.

Artificial Intelligence

Striking a Balance Between Technology and User Experience

According to Investopedia, more than 40% of financial services companies are looking to technology teams to make digital improvements to their business. What is most surprising is that the number is so low, especially with more than 51% of the adult population banking online. Making the case for smarter website design isn’t difficult, but fundamentally redefining internal and customer-facing workflows is not a task that can be undertaken in a period of months — sometimes even years. Adobe recently discovered that 39% of users will navigate away from websites that are taking too long to load and will stop engaging completely if the content doesn’t capture their attention. This puts a significant onus on marketers and technology professionals to come together and proactively define a positive user experience that helps customers achieve their goals quickly and seamlessly. The balancing act occurs due to the overabundance of projects and the often-limited IT time available to address them.

Maintaining Positive Customer Relations in the Age of AI

When does AI cross the line from being a time-saving tool that reduces the administrative overhead for a financial services organization to becoming a frustrating burden for customers? Finding that fine line is something that companies continue to struggle with, as chatbots and other forms of automation replace primary customer service agents. Artificial intelligence (AI) is still an emerging technology that is being harnessed for many businesses, even though it’s been available for several decades. IT professionals and business leaders are looking for options that will provide both a positive customer experience — and a positive impact on the bottom line.

Creating synergies between technology and business is a role that is well-suited to IT professionals, especially when you have access to the support you need to extend the capabilities of your team. The experts at Kraft Technology Group are well-versed in the difficulties facing financial services organizations in Nashville and surrounding areas. Contact us at (615) 600-4411 to see how IT support and managed services can help maximize productivity, provide predictable budgeting and help keep your business healthy over time. Chat with our service professionals or book a meeting online for a free initial consultation to review your current IT services.