Banking customers expect their financial institutions to know, understand, and help them. Thus, market leaders are using AI and other innovative tools to deliver that.

Fremont, CA: Advancements in digital and mobile banking have opened up new avenues for bank and credit union marketers by utilizing data to map, study, and enhance the customer journey through inbound and outbound marketing interactions.

Here are five ways financial marketers can utilize AI to enhance customer engagement:

Inbound and Outbound Marketing

Financial services marketers understand that the customer’s journey is not linear. Customers want a smooth experience across all channels, and marketing technologies to make it possible for banks to have a 360-degree view of the customer. Marketers leverage the ability to deliver a higher and steady experience across the channels.

Utilize AI to Move from Product to Customer Focus

Utilizing AI and machine learning systems to realize the context and offer a personalized message to the customer at the right time.

Machine learning allows banks and credit union marketers to balance marketing and finance without surrendering the capability to be relevant, valuable, and responsive to customers.

Use Personalization to Make Decisions 

Financial leaders want digital superiority to create a seamless banking experience for consumers through mobile apps and live-chat functionality. Also, many financial organizations are driving on the potential to apply for and open more types of accounts entirely online. By facilitation of automated decision making behind the scenes, banks can deliver tailored experiences for customers within digital channels.

Enable Real-Time Interactions

AI offers financial institutions the capability to direct consumer conversations in real-time. AI-based social listening identifies negative experiences form customers in social media and signals to the real-time decision engine that intervention is required. AI can then trigger a new set of messages or start a call to the contact center where a bank representative can mediate.

Enhance Retention by Interpreting Consumer Signals

AI forecasts what a customer needs and applies the intelligence to tailor retention offers, which are delivered through channels consumers usually use. Comprehensive machine learning also gives financial institutions then skill to identify which customers might leave and why.