Digital transformation is changing the way banks talk to customers, but financial institutions in the region are looking at how they can deploy AI and automation to transform the customer experience, says DANNY DREW, Avaya’s MD.
When was the last time you actually visited your bank branch? For most people, the answer is likely to be somewhere in between the last time you had to do a major financial transaction, such as applying for a loan or a mortgage, and… you just can’t remember. The way consumers interact with banks has fundamentally changed over the past few years as trends like mobile and online banking have become increasingly important.
If anything, these trends are accelerating. A recent study conducted by Avaya and BT shows that the number of consumers using mobile apps for financial services over the last few years has more than trebled, while web chat has also significantly increased in popularity.
This has been triggered by an ‘anytime, anywhere’ digital culture as consumers and businesses demand financial management on their own terms. Of course, this is creating its own challenges – banks are having to invest considerable resources to meet their customers’ increased demands. With 89% of organisations today expecting to compete primarily on customer experience – up from 36% just five years ago – meeting those enhanced expectations isn’t really optional any more.
One area banks and other financial institutions are increasingly exploring here in the region is increased use of automation and artificial intelligence (AI) – not so much to replace human agents but to help free up their time to allow them to provide the personalized service customers still like and want.
Automation in customer experience is all about making things faster, easier and more streamlined for customers – so we don’t have to repeat ourselves multiple times, and explain our problems to different agents every time we contact an organization.
Accordingly, banks are increasingly “employing” chatbots to help take some of the stain. Chatbots funnel and streamline conversations, making contact centres more efficient and responsive. They can provide standard replies that are appropriate and informative, and once the conversation becomes more complex, or a more in-depth solution is required, a human agent can step in and help.
When it comes to tapping the full potential of chatbots and AI, however, we’ve really only just begun. Visitors to the Avaya stand at the recent GITEX Technology Week event in Dubai were able to see the future of customer experience in the banking sector, with a showcase of the potential benefits of an AI solution. Our “Noor” virtual assistant demonstrated how banks can combine a range of technologies, including biometrics for identification and analytics to predict behaviour patterns, to go beyond basic service.
More than just answering basic queries, the Noor solution helps to anticipate and articulate customer desires – so if a customer has been talking on social media about liking a new model of sports car, then the bank could approach them about financing purchasing one.
And how about the bank takes it a stage further and co-operates with the car dealership to arrange a test drive for them? Banks today are re-engineering themselves as next-generation service providers, extending their relationship with customers beyond basic financial transactions to help in every area of their customers’ lives. By cross-selling services and offerings from other companies, banks can provide real value to consumers, making interactions more engaging and personal – and more lucrative for the bank as well. After all, if your customer is going to be these services from somebody, why not ensure you are involved?
With a young tech-savvy population and some of the highest smartphone penetration rates in the world, then it’s hardly surprising banks are keen to deploy mobile banking applications. Some banks are exploring taking this further and providing their customers with a platform for a wider range of transactions. So for instance, a bank could have one mobile application that can be used for whatever the customer chooses— booking show tickets, hiring a car, or any number of other, similar transactions. This way, instead of going through 10 different apps, a customer only needs to go to one and channel out from there – which means the bank keeps their attention for longer.
The business benefits are clear. Companies that can keep customers satisfied, engaged and coming back have a competitive advantage. And by taking data the company already has and putting it into the decision-making process, they can make smarter decisions that enhance the customer journey in terms of speed and quality of service.
Achieving this with yesterday’s technologies is extremely difficult, which is why the banking industry should not rely on old processes to achieve new results, as outdated contact centres and communications platforms weren’t built to support modern interactions. While the data surrounding these interactions may be stored and possibly be relevant at some further point, it can’t be qualified to inform intelligent decision-making. This is why digital transformation has become a critical differentiator.
Using Omni channel customer experience technology, banks can track a customer’s activity on any channel and register it as part of the customer journey. Based on insights contained in this data, contact centre teams can proactively anticipate a customer’s intentions and instead of greeting them with a generic recorded IVR message, can generate a personalised opener, for example: “I see your recent transaction was not successful, would you like me to connect you with an advisor to discuss this?” Smart apps can reach out while the customer is active online or on their banking app, using proactive chat or even offering video interaction.
Banks that fail to extend their service offerings in this way are likely to find themselves struggling in future. It all goes back to meeting the customer’s expectations – and exceeding them. Banking and financial-services providers have more data than any other industry at their disposal – it’s time to make the most of this, for the benefit of customers themselves.
Acer gaming beast escapes
Acer this week unveiled two notebooks that take portable gaming to new extremes.
Acer unveiled two new Predator Helios gaming notebooks this week at the next@acer global press conference in New York. They include the powerful Predator Helios 500, featuring up to 8th Gen Intel Core i9+ processors, and the Predator Helios 300 Special Edition that includes upgraded specs from its predecessor and a distinctive white chassis. Both feature VR-Ready performance, advanced thermal technologies, and blazing-fast connectivity.
“We’ve expanded our Predator Helios gaming notebook line in response to popular demand from gamers seeking extreme performance on the go,” said Jerry Kao, President of IT Products Business, Acer. “The Predator Helios 500 and Helios 300 gaming notebooks feature Acer’s proprietary thermal technologies and powerful components that, coupled with our award-winning software, deliver unparalleled gaming experiences.”
“The 8th Gen Intel Core i9+ processor for gaming and creation laptops is the highest performance Intel has ever delivered for this class of devices; purpose built for enthusiasts who demand premium gaming experiences whether at home or on the go,” said Steve Long, Vice President and General Manager, Client Computing Group Sales and Marketing, Intel. “Intel and Acer’s long relationship has produced amazing products over the years, and the new Acer Predator Helios gaming notebooks are powerful examples of what’s possible with this unprecedented level of performance.”
Predator Helios 500 is a gaming beast featuring overclocking, 4K 144 Hz panels
Designed for extreme gamers, the Predator Helios 500 is a gaming beast. It features up to overclockable 8th Gen Intel Core i9+ processors and overclockable GeForce GTX 1070 graphics. Intel Optane memory increases responsiveness and load times, while ultra-fast NVMePCIe SSDs, Killer DoubleShot Pro networking, and up to 64GB of memory keep the action going, making the Helios 500 the ideal gaming notebook for graphic-intensive AAA titles and live streaming.
Top-notch visuals are delivered on bright, vibrant 4K UHD or FHD IPS 17.3-inch displays with 144Hz refresh rates for blur- and tear-free gameplay. NVIDIA G-SYNC technology is supported on both the built-in display and external monitors, allowing for buttery-smooth imagery without tearing or stuttering. For those looking for maximum gaming immersion, dual Thunderbolt 3 ports, and display and HDMI 2.0 ports support up to three external monitors. Two speakers, a subwoofer, and Acer TrueHarmony and Waves MAXXAudio technology deliver incredible sound and hyper-realistic 3D audio using Waves Nx.
The Helios 500 stays cool with two of Acer’s proprietary AeroBlade 3D metal fans, and five heat pipes that distribute cool air to the machine’s key components while simultaneously releasing hot air. Fan speed can be controlled and customized through the PredatorSense app.
A backlit RGB keyboard offers four lighting zones with support for up to 16.8 million colors. Anti-ghosting technology provides the ultimate control for executing complex commands and combos, which can be set up via five dedicated programmable keys.
Acer’s PredatorSense app can be used to control and monitor the notebook’s vitals from one central interface, including overclocking, lighting, hotkeys, temperature, and fan control.
Predator Helios 300 Special Edition brings a sophisticated design twist to gaming notebooks
Acer’s budget-friendly Helios 300 gaming line sees the addition of a Special Edition model featuring an all-white aluminum chassis accented with gold trim, an unusually chic design for gaming notebooks.
The Helios 300 Special Edition (PH315-51) allows for ultra-smooth gameplay via its 15.6-inch FHD IPS display with an upgraded 144Hz refresh rate. The rapid refresh rate shortens frame rendering time and lowers input lag to give gamers an excellent in-game experience. It’s powered by up to an 8th Gen Intel Core i7+ processor, overclockable GeForce GTX 1060 graphics, up to a 512 GB PCIe Gen 3 NVMe solid state drive, and up to a 2 TB hard disk drive.
The Helios 300 Special Edition also comes equipped with up to 16 GB of DDR4 memory, and is upgradable to 32GB. Intel Optane memory speeds up load times of games and applications, access to information and improves overall system responsiveness. In addition, Gigabit Ethernet provides fast wired connections, while Gigabit Wi-Fi is provided by the latest Intel Wireless-AC 9560 that delivers up to 1.73Gbps throughput when using 160 MHz channels (2×2 802.11ac, dual-band 2.4GHz and 5GHz).
The Helios 300 Special Edition also includes two of Acer’s ultrathin (0.1 mm) all-metal AeroBlade 3D fans designed with advanced aerodynamics and superior airflow to keep the system cool. They can be controlled with Acer’s PredatorSense app, which offers three usage modes:
1. Coolboost mode:
For heavy loading games, rendering, streaming, and extended video consumption
2. Normal mode:
For productivity tools like Microsoft Office
3. Silent mode:
For web browsing and online chatting
Price and Availability
Predator Helios 500 will be available in South Africa in June starting at R34 999.00
Helios 300 Special Edition will be available in South Africa in August 2018. Exact Price will be communicated closer to the time.
LG G7 arrives in SA
LG this week introduced South Africa to its latest premium smartphone, the LG G7 ThinQ, focused on bringing useful and convenient AI features to the smartphone experience.
Powered by the latest Qualcomm Snapdragon 845 Mobile Platform, the LG G7 ThinQ offers 4GB of RAM and 64GB of internal storage to run demanding tasks and apps with. It is equipped with a 6.1-inch Super Bright Display, but the LG G7 ThinQ remains compact enough to use with one hand.
Sporting a new design aesthetic for the G series, the polished metal rim gives the LG G7 ThinQ a sleeker, more refined look, complemented by Gorilla Glass 5 on both the front and the back for enhanced durability. Rated IP68 for dust and water resistance, the LG G7 ThinQ is also awarded MIL-STD 810 c certification, having been subjected to a range of extreme temperature and environment tests designed by the United States military.
The LG G7 ThinQ has an 8MP camera up front, rendering clear and natural selfies, with two 16MP cameras at the back that deliver higher resolution photos with more detail, as well as a Super Wide Angle configuration.
As with other leading brands, LG has evolved its signature camera by including AI functionality. The AI CAM offers 19 shooting modes for intelligence-optimised shots. Users can also improve their photos by choosing from an additional three effect options should the AI CAM recommendation not suit their taste.
The new Super Bright Camera captures images that are up to four times brighter than typical photos shot in dim light. Through the combination of pixel binning and software processing, the AI algorithm adjusts the camera settings automatically when shooting in low light.
Live Photo Mode records one second before and after the shutter is pressed for snippets of unexpected moments or expressions that would normally be missed. Stickers uses face recognition to generate fun 2D and 3D overlays, such as sunglasses and headbands, that can be viewed directly on the display.
New to the G series is Portrait Mode, which generates professional-looking shots with out-of-focus backgrounds. This effect can be generated using both front and rear standard lenses as well as the rear Super Wide Angle lens.
LG G7 ThinQ offers further AI functionality with the inclusion of Google Lens features. Google Lens is a new way to search using the AI and computer vision. Google Assistant and Google Photos allow users to access more information on objects such as landmarks, plants, animals, and books. It can identify text or visit websites, add business cards to contacts, events to the calendar or look up an item on a restaurant menu.
A button just below the volume keys launches the AI functionality. A single tap of this button launches the Google Assistant, while two quick taps launches Google Lens. Users can also hold down the button to start talking to the Google Assistant without the repetition of the OK Google command.
With Super Far Field Voice Recognition (SFFVR) and the highly-sensitive G7ThinQ microphone, the Google Assistant can recognise voice commands from up to five meters away. SFFVR is able to separate commands from background noise, making the LG G7 ThinQ an alternative to a home AI speaker, even when the TV is on. Commands for the Google Assistant have been increased in the LG G7 ThinQ so users can get more done with their voice alone.
“The LG G7 ThinQ is strongly focused on the fundamentals and its launch marks a new chapter for our company,” said Deon Prinsloo, General Manager for Mobile Communication, LG Electronics S.A Pty Ltd. “Through the combination of personalised and useful AI functionalities with meaningful smartphone features, this is LG’s most convenient and in the moment smartphone yet.”
- Mobile Platform: Qualcomm Snapdragon 845 Mobile Platform
- Display: 6.1-inch QHD+ 19.5:9 FullVision Super Bright Display (3120 x 1440 / 564ppi)
- LG G7 ThinQ: 4GB LPDDR4x RAM / 64GB UFS 2.1 ROM / MicroSD (up to 2TB)
- Rear Dual: 16MP Super Wide Angle (F1.9 / 107°) / 16MP Standard Angle (F1.6 / 71°)
- Front: 8MP Wide Angle (F1.9 / 80°)
- Battery: 3000mAh
- OS: Android 8.0 Oreo
- Size: 153.2 x 71.9 x 7.9mm
- Weight: 162g
- Connectivity: Wi-Fi 802.11 a, b, g, n, ac / Bluetooth 5.0 BLE / NFC / USB Type-C 2.0 (3.1 compatible)
- Colours: New Aurora Black
- Others: Super Bright Display / New Second Screen / AI CAM / Super Bright Camera / Super Far Field Voice Recognition / Boombox Speaker / Google Lens / AI Haptic / Hi-Fi Quad DAC / DTS:X 3D Surround Sound / IP68 Water and Dust Resistance / HDR10 / Google Assistant Key / Face Recognition / Fingerprint Sensor / Qualcomm Quick Charge 3.0 Technology / Wireless Charging / MIL-STD 810G Compliant / FM Radio