Connect with us

News

CUSTOMER CARE TODAY WILL BUILD RESILIENCE FOR FUTURE CRISES

Customer

Cathal McGloin, CEO of ServisBOT writes, “The COVID-19 pandemic has created major spikes in calls to financial sector helplines dealing with customers who are concerned about temporary business closures, or seeking information on mortgage holidays and insurance cover.

 

Easing the pressure

With call volumes surging at many contact centres, moving customers from a voice to a text-based channel and encouraging some of them to self-serve via your website or mobile app helps to reduce pressure on contact centre agents. A call-deflection solution doesn’t have to be complex, costly or time-intensive, but it can be extremely effective in managing additional call volumes more cost-effectively, while still providing your customers the information that they need to allay their concerns.

If customers are able to interact with a chatbot initially and this resolves their immediate queries, this can significantly reduce call volumes and the business can still enable the bot to handover to a customer service agent for customers that require further assistance.

 

Setting up a Chatbot in 48 hours

Whether your interactive voice response (IVR) is based on legacy technology or is a modern cloud-based solution, it’s possible to deflect customers from an inbound voice channel to a messaging channel. We know, because we have done this for a client who considered this impossible with their legacy on-premise IVR system. Spinning up a solution took just 2 days and allowed them to successfully deflect calls, automate the response, and still offer customers a path to live chat.

 

Employing a Chatbot as a Call Deflection Solution

Financial services businesses can launch a very simple bot. The bot can be as simple as just pointing a customer to the COVID-19 FAQ page or it can be an extension of an existing customer service bot that offers multiple capabilities. On day one it may just be used to quickly assess queries and handover to a live agent. However, by gathering the training phrases from customer chats, the bot can be made progressively smarter and add capabilities, so that it can be trained over the course of  a week to start automating your customer service

After a week the bot can start automating to become more self-sufficient and take more of the burden from your customer service agents, allowing them to handle more complex customer issues.

Using a chatbot opens up a whole new path to automation.  Once customers start to engage with your intelligent virtual agent, the bot can handle simple requests, direct them to the relevant information on your website, or help them transact in a self-service manner. All of this can happen without the need for them to engage with an agent unless they specifically request this, or the bot escalates the request to an agent. It can even be integrated with your live chat systems so that the bot works in parallel with live agents when needed.

 

Future proofing

During crisis periods, when interactions with concerned customers need to be handled well, call deflection using a chatbot or virtual agent takes the pressure off contact centre agents. It also introduces an automation path that can help customers around the clock.

Once your chatbot has been trained to respond to common customer queries round the clock and reduce the pressure on your contact centre staff, your employees can focus on providing the best care for your customers who urgently need to speak to them. Introducing virtual assistants sends a clear message to your customers that they are your priority and increases the resilience of your business against future emergencies.

News

HSBC JOINS BIAN TO COLLABORATE ON IT ARCHITECTURE DEVELOPMENT

The global bank brings an international perspective to the not-for-profit organisation

 

BIAN, the independent not-for-profit, and HSBC today announce that the global bank has joined the organisation to help develop its IT architecture through the use of common standards. By tapping into the industry collaboration offered by BIAN’s members, HSBC will be able to focus on priorities that will best serve its customers’ needs both now and in the future.

 

HSBC is one of the world’s largest banking and financial services organisations. It serves more than 40 million customers across 64 countries globally, and is digitising at scale to open up opportunities around the world for its customers, while transitioning to a net zero footprint.

 

As the financial services industry continues to adapt to new and existing regulations, banks like HSBC with worldwide coverage, need to ensure their systems are highly-resilient, operate at scale and are able to deliver change at pace.

 

Attracted to BIAN because of its comprehensive industry reference models, openAPI exchange and proof-of-concept projects, such as the coreless banking initiative, Dan King, Chief Technology Architect at HSBC, said, “The continuous improvement of our IT architecture is a crucial enabler of excellent customer experience and growth. Our customers come first, and keeping up with their needs is essential and highly-dependent on our IT systems. One of BIAN’s main selling points is its coreless banking initiative, which promotes a more efficient and effective approach to modernising banking software. This initiative is incredibly interesting to us, as we look to future-proof our technology architecture.”

 

Due to the scale of its business, HSBC brings a wealth of perspective to BIAN. HSBC has collective knowledge of many technologies and techniques, meaning that BIAN’s members can benefit and learn from their experience. BIAN will also benefit from HSBC’s international perspective and regional knowledge.

 

Hans Tesselaar, Executive Director of BIAN, said, “We’re proud to welcome HSBC to our growing organisation. As we continue to drive innovation across the industry, our members will undoubtedly benefit from HSBC’s wealth of experience and expertise. Collaboration is truly key to the success of our industry, and I look forward to our future, with our members by our side.”

 

Steve Van Wyk, Global CIO at HSBC, said, “As the chair of BIAN’s Executive Board, I am hugely passionate about the role BIAN plays across the industry, and I am excited to welcome my colleagues at HSBC to the organisation. As an industry, we have common challenges, and by collaborating, we can overcome them to create an even more resilient and innovative sector.”

 

Continue Reading

News

DELOITTE ADVISES AL FALEH EDUCATIONAL HOLDING ON ITS DEBUT LISTING ON THE VENTURE MARKET OF QATAR STOCK EXCHANGE

Deloitte Middle East acted as the listing advisor for Al Faleh Educational Holding Q.P.S.C. (Al Faleh) for listing of 240 million ordinary shares on the Venture Market of Qatar Stock Exchange (QEVM) on 13 April 2021. The listing and admission to trading of shares on QEVM has been approved by the Qatar Financial Market Authority and the Qatar Stock Exchange (QSE).

 

QEVM provides an alternative venue for listing and trading of shares for Small and Medium Enterprises (SMEs) who are unable to meet the higher capital and other requirements of the main market of QSE. Al Faleh Educational Holding will be the first to list on QEVM and also the first in the education sector to go public in Qatar.

 

Robin Butteriss, Partner, Corporate Finance Advisory at Deloitte Middle East led this landmark transaction. “We are very pleased to have successfully led and managed a complex transaction process that resulted in the debut listing on QEVM. The experience and capabilities of the Financial Advisory team in Qatar played a major role in supporting Al Faleh Educational Holding transition to the next phase of growth and development”, commented Butteriss.

 

Walid Slim, Partner at Deloitte Middle East supported Al Faleh throughout and worked closely with the Qatar Stock Exchange. “The QEVM, as a platform, provides similar companies opportunities to accessing capital markets and diversify sources of funding, which will support future activity. ”commented Slim.

 

Continue Reading

Magazine

Trending

Finance8 hours ago

WHY SUBSCRIPTIONS ARE KEY TO THE FUTURE OF THE FINANCIAL SERVICES SECTOR

Michael Mansard, Principal Director – Subscription Strategy at  Zuora   The business world is wondering: what does post-pandemic growth look...

Banking8 hours ago

MODERN BANK HEISTS: FINANCIAL INSTITUTIONS ARE BEING HELD HOSTAGE

By Tom Kellermann, Head of Cybersecurity Strategy, VMware Security Business Unit, @TAKellermann   The modern bank heist has escalated to...

Finance8 hours ago

FUTURE-PROOFING FOR THE FINTECH INDUSTRY WITH NETWORK INNOVATION

Alan Hayward, Sales & Marketing Manager at SEH Technology   As the years pass, it is becoming far more difficult...

News8 hours ago

HSBC JOINS BIAN TO COLLABORATE ON IT ARCHITECTURE DEVELOPMENT

The global bank brings an international perspective to the not-for-profit organisation   BIAN, the independent not-for-profit, and HSBC today announce that...

Business8 hours ago

FASTER REACTIVITY TO END-OF-LIFE DEADLINES IS KEY TO COMPLIANCE

Mat Clothier, CEO, Cloudhouse   Across global industries, the financial services sector is among the most regulated. Ensuring compliance is...

Finance8 hours ago

HOW DOES THE CREDIT CARD TOKENIZATION WORK?

Narendra Sahoo, Founder and Director of VISTA InfoSec    Credit card tokenization is the process of completely replacing sensitive data...

News8 hours ago

DELOITTE ADVISES AL FALEH EDUCATIONAL HOLDING ON ITS DEBUT LISTING ON THE VENTURE MARKET OF QATAR STOCK EXCHANGE

Deloitte Middle East acted as the listing advisor for Al Faleh Educational Holding Q.P.S.C. (Al Faleh) for listing of 240...

Business4 days ago

PUTTING TECHNOLOGY AND EMPATHY AT THE HEART OF SMB LOAN SERVICING

Luis Huerta, Vice President and Intelligent Automation Practice Head, Europe at Firstsource By the end of March 2021, over one...

Finance5 days ago

THE PUSH AND PULL OF IDENTITY SECURITY ADOPTION IN THE FINANCIAL SERVICES INDUSTRY

Ben Bulpett, Director, SailPoint There is a dual movement spurring on the adoption of identity security in the financial services...

News5 days ago

GENIUS GROUP LAUNCHES 4-WEEK INVESTMENT MICROSCHOOL FOR ENTREPRENEURS TO BUILD A FUTURE-PROOF INVESTMENT PORTFOLIO

In response to the increased volatility in the global financial markets created by the Covid-19 pandemic, Genius Group is launching...

Business5 days ago

THE SPAC BOOM: WHY COMPANIES AND INVESTORS ARE INCREASINGLY LOOKING TOWARDS SPAC IPOs

Maxim Manturov, Head of Investment Research at Freedom Finance Europe Special purpose acquisition companies (SPACs) have long been part of the...

News5 days ago

HARDSOFT KEEPS CUSTOMERS CONNECTED WITH BLOCK DISCOUNTING FROM SIEMENS FINANCIAL SERVICES

One-stop leasing and IT solution expert HardSoft Ltd has expanded its offering with Block Discounting from Siemens Financial Services (SFS)....

Business6 days ago

5 REASONS SMALL BUSINESS OWNERS NEED FINANCIAL ADVISING

With everything else a small business owner has to deal with daily, having a financial advisor to help keep both...

News6 days ago

JSCRAMBLER X DOTCONNECT: JSCRAMBLER ENABLES THE SECURE DELIVERY OF DIGITAL BANKING SOLUTIONS FOR TWO OF THE FASTEST GROWING BANKS IN THE UK

-dotConnect successfully applied Jscrambler during the delivery of digital banking solutions for Al Rayan Bank and UBL UK- -73% of...

Business6 days ago

IT’S TIME SPECIALIST BUILDING SOCIETIES, LENDERS AND BANKS JOINED THE INSTANT ECONOMY

By Andrew Dellow, Director of Strategic Accounts at Modulr, the payments platform. Building societies, lenders and other specialist banks are...

Technology6 days ago

THE FINTECH REVOLUTION: BALANCING INNOVATION AND SECURITY

By Altaz Valani, Director of Insights Research at Security Compass. At a time of significant disruption for the financial services industry, a...

Business6 days ago

THE EVOLUTION OF BUSINESS TRAVEL ACCOMMODATION

By Cherry Wang, Country Manager, UK & Ireland, Homelike. Business travel accommodation is undergoing drastic changes as the sector moves...

Business6 days ago

HOW NEW DATA SOURCES CAN ACCELERATE OUR JOURNEY TO RECOVERY

Jonathan Westley, Chief Data Officer, at Experian UK&I With the growth of e-commerce and streaming of everything from music to...

Business6 days ago

TOP 5 INVESTMENT TRENDS THAT WILL SKYROCKET IN 2021

By Roger James Hamilton, Founder and CEO of Genius Group Since March 2020 we have seen unprecedented movements in the...

Technology6 days ago

GETTING THE TIMING RIGHT FOR CLOUD

Daily life has changed a lot in the past year. Decades of innovation have occurred in mere months, as industries...

Trending