TECHNOLOGY
EMERGING TECH AND ITS POTENTIAL Savio Tovar Dias, Senior Director at Avaya International, shares his projections on emerging technologies and how it will impact the financial services sector
W
hat emerging technology are you most excited about at the moment?
For banks to meet and exceed today’s customer expectations, they need to deliver consistently excellent service across all channels, provide a hyper-personalised experience, support mobility with security, and empower employees for better collaboration and customer support. Artificial Intelligence (AI) is a fundamental enabler of these objectives. However, presently, most AI projects in the sector are focused solely on entry-level chatbots that automate basic customer service interactions. We believe the potential for AI to positively impact customer experience extends far beyond this. This is why we are focused on delivering solutions that augment the intelligence of machines. By giving machines knowledge from all channels, we empower AI to create the right outcomes based on the right information. This in turn enables banks to drive intelligent self-service and significantly reduce errors during customer interactions—all leading to improved brand reputation and trust. Mashreq Bank stands as prime example of a regional bank that has successfully implemented AI to its customers’ benefit. Working together with Avaya, they have deployed the region’s first digital engagement banking bot which acts as a visual and conversational virtual assistant. This enables their customers to access banking services and complete service requests almost entirely through an AI-powered ‘agent’. The ‘chatbot agent’ can verify customers, complete transactions, and sign up for new services on the customer’s behalf— from anywhere and through any device.
What are your projections on technology and its impact on the financial services sector this year?
Savio Tovar Dias
In our latest Avaya Global CX Happiness Index report, we uncovered that for the banking sector, staff knowledgeability, using digital technologies to enhance efficiency, and providing a consistent level of service every time, are among the top five factors driving customer happiness.
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