Leading technologists and executives from global financial services organizations gathered at Gartner Symposium/ITxpo in Orlando on Sunday, Oct. 14 for a daylong session — sponsored by IPsoft. The day was exclusively dedicated to banking solutions that can enable digital transformation including 1Bank, IPsoft’s conversational banking platform.
Attendees were keen to hear from Gartner analysts about how cutting-edge technologies can help drive growth and differentiate their businesses. Over the course of the day, analysts examined threats and opportunities for banks, as well as maturity benchmarks and success metrics for adopting emerging technologies like Artificial Intelligence. A common theme was that as businesses invest, they will need to rethink KPIs to focus on value creation. In a presentation titled, “A Roadmap for Banks in the Age of Human Augmentation,” Gartner Research Director Vittorio D’Orazio, mentioned three key areas of opportunity for AI in banking: transactional improvements such as fraud detection, client interactions with virtual assistants, and customer segmentation to deliver more tailored information.
IPsoft’s 1Bank solution adds conversational messaging capabilities to any existing app or website. Amelia talks to customers in natural language to handle payments, transfers, credit card activation, charge disputes and travel alerts.
As part of IPsoft’s sponsorship for the daylong session, Jennifer Hewit, Head of Cognitive & Digital Services at Credit Suisse, spoke to a packed room of 250 Symposium attendees. She detailed how Credit Suisse is using Amelia, IPsoft’s digital colleague, to resolve IT Service Desk issues 24/7/365, including email issues, password resets, Wi-Fi troubleshooting and computer restarts. Amelia services more than 50,000 users in 40 countries globally for Credit Suisse, and 80 tech support agents have been reallocated to provide higher-level support. Employees benefit from faster resolution times as Amelia is able to handle and resolve 20% of all IT requests on her own. This video of Jennifer speaking at IPsoft’s Digital Workforce Summit in June explains more about how Credit Suisse has increased adoption and the effectiveness of Amelia during the last few months.
Ergun Ekici, Vice President of Emerging Technologies at IPsoft, introduced IPsoft’s conversational banking solution 1Bank. Ergun told the Symposium audience that consumers require convenient, personalized and secure access to their financial information from their devices or desktops. In the next stage of banking transformation, organizations will add conversational capabilities to their apps and websites. Customers will communicate via text or voice to gain rapid answers to banking questions, tailored financial advice and will even carry out transactions all from the same messaging channel. Ergun explained that 1Bank integrates Amelia within any existing banking app or website. She talks to customers in natural language, recognizing different phrases and terms and remembering historical interactions. She handles payments and transfers, credit card activation, charge disputes and travel alerts for customers at any time, and she can scale depending on customer volume. (Read more about IPsoft’s banking solutions here.)
The themes of employee engagement and digital transformation with AI continued beyond Sunday’s session to the entire week-long event. At the Symposium opening keynote on Monday, leading Gartner analysts talked about the importance of employee satisfaction within companies and how it can impact corporate performance and revenues. Presenters also stressed the importance of privacy and control over client data as enterprises adopt new digital frameworks.
Discussions from Gartner presenters on AI unsurprisingly included topics such as potential job loss and creation — including findings that companies which have already invested in AI have seen few job losses overall. As the market evolves, enterprises must adapt their culture and manage organizational change to ensure success, as the real value of AI will be how it supports rather than replaces human workers.