How Intelligent Automation Helps Financial Services Institutions Acquire, Engage and Retain Customers

Truly customer-centric companies take a different, wide-angle view. Moving beyond event-oriented marketing, they have developed a holistic and continuous view of each customer’s evolving life-cycle needs as he or she moves through marriage, home ownership, parenthood, and other transforming life experiences.

In the financial services industry, there is intense competition to win customer loyalty. To earn these long-term relationships and deliver superior service at every touchpoint, financial institutions must focus on creating seamless customer experiences through the elimination of manual processes and procedures.

Customer Engagement

Evolving customer expectations and technologies are disrupting how financial institutions operate. The customer must be the center of every business decision, and financial institutions must focus on innovation with a willingness to develop new products, services, and channels. When approached as a relationship-building activity, based on a foundation of trust and a dedication to service, financial institutions will be rewarded with loyal customers.

In order to innovate with the speed necessary to keep customers engaged, financial institutions need the power of intelligent automation — the combination of business process and rules management, integrated robotic process automation (RPA), and artificial intelligence (AI) — to drive personalized recommendations.

Customer Transaction Lifecycle Management

Customer transaction lifecycle management is especially important for serving corporate and institutional clients. These clients generate significant revenue for financial services institutions. With AI-powered solutions, financial institutions can recommend products and services that are linked to customers’ lifecycles, providing an opportunity to grow revenue and strengthen relationships. This requires a technology platform for process automation and case management that supports business agility, collaboration, and efficiency — providing the continuity necessary to treat clients as “customers for life”.

Watch this video to see an overview of Appian’s application for Customer Transaction Lifecycle Management.

Deeper Customer Insights

Relationship managers strengthen relationships through ongoing, personalized communications that are informed by data, enabling a deeper understanding of customer trends at a macro level while simultaneously driving unique service offerings to the individual customer. Having a 360° view of the client allows relationship managers to improve all facets of the relationship, and manage relationships through events, not just transactions — all while ensuring compliance with bank policies and procedures.

A holistic customer-centric approach makes it easy for relationship managers to keep track of upcoming meetings and calls and track activities and processes related to managing customer requests and events across a broad category of event types including account level changes, program election changes, and investment mandate changes — enabling a consistent and seamless experience resulting in increased customer satisfaction and value.

With Appian, you can build unique applications that enable a unified customer view across multiple systems, product lines, and channels. Visit our Appian financial services resource center to learn more about our enterprise low-code development platform.
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