Peer to peer lending, KYC service (know-your-customer, know your customer), artificial intelligence, AI, stock & trading application. Some people call it financial and technological innovation "tsunami" is sweeping the entire financial services industry . It not about subversion to overthrow the incumbent factions, but the impact is very real.
For example, after making a handsome profit in the wealth management field, like a robot advisor platforms such WealthSimple it has attracted media attention. Meanwhile, leading companies are increasingly turning to technology companies and other financial digital transformation solutions to stay ahead in the brutal competition in the market. The digital transformation is much more than just a shift from the traditional financial services industry to the digital world, in financial institutions, there are hundreds of functional and technical areas that require digital transformation.
Consumerization of IT makes IT a bank and other financial institutions to learn, interact and meet customer needs and customer important ways. An effective method of digital transformation began from outside to inside, and by understanding the customer's digital consumption patterns, balances, income, preferences, needs statement and unstated needs, in line and online text, and so on. Financial services institutions and banks have never had so much access to customer data (and big data), and now, when financial institutions have the opportunity to use it, they must make full use of digital technology, such as mobile applications, personalized user experience, based on artificial intelligence cross and up-selling, machine learning and robotics, for each customer to provide exclusive personal service, and provides 24/7 personal assistant and so on. Of course, this conversion has led to major changes in the financial intermediaries, which is from product availability and back-end data center to a major shift to customer-centric. Financial services institutions have no other choice but to select customer-centric point of view, because in today's competitive landscape, customers have to choose from a large number of financial institutions.
If you are looking for ways to improve your practice digital transformation - do not worry. Even for the most innovative teams, change may also be daunting. But this is not necessarily complicated (or even too expensive). We recommend that you consider the following can help you start the digital transformation strategy.
All-channel customer experience
The most effective way to organize the transition from traditional to digital financial services financial services industry is likely to be full-channel approach. As customers move to a different channel (mobile, tablet, desktop computers, wearable devices, etc.), financial services organizations need to focus on providing a seamless customer experience across different contacts. Today's customers are more mature, more tech-savvy, in order to meet their specific needs, each client wants to get unique experience from their financial services organizations. They want companies to understand their needs and preferences. Therefore, these customers expect financial service providers can also make a similar reaction and provide similar services, is not surprising. Whether it is a new research service, accounts, view balances, transactions, view the loans, loans, wealth management, customer support, to provide channel experience has become the key to success in this highly competitive market. Millennials, Generation X and even baby boomers do not like to handle the financial services field, they prefer to use smart phones to complete all transactions. But financial institutions are ready? No, they did!
Using different ways to connect with customers
Customer expectations are changing. Survey shows that Millennials formal sit down than to prefer short, quick conversations. Accept the way they like to talk and media, such as e-mail and text, will make sure you cater to their preferences. However, you do not want to lose that personal touch. In some cases (such as in emergency situations) of face to face communication remains critical to the success of your practice.
Video conferencing such as Zoom or Goto Meeting such solutions provide a convenient alternative. These services enable you to establish a network meeting in seconds for quick, personal conversation, and virtually no cost. In addition, you will face less stress and saves time.
Start digitizing your documents
Because of the strict regulatory requirements, consultants must be collected, stored and signed by scanning each customer's form, which year after year seem onerous requirements. Fortunately, there are many applications that can help you improve the efficiency (or at least make it easier to manage). For example, with a large number of CRM cloud storage system provides a safe, convenient place to store thousands of digital documents, then you can use the search and filter functions to retrieve these documents in seconds.
In order to eliminate cumbersome print - signature - Fax (Scan) workflow, you can also consider using solutions like EchoSign or Docusign. These are legal and safe for daily contracts and forms, and can shorten the processing time from days to a few seconds, while reducing the cost of office paper. In addition, from the customer's point of view, modern electronic signature tools for tablet and stylus looks very smart.
Improve your marketing skills
Another strategy is to increase your marketing efforts. This can help you get new customers without having to hire a huge marketing team. A few simple promotion strategy and a reasonable monthly investment plan can quickly achieve this. Consider the many easy-to-use marketing tools that already exist. Such as MailChimp such solutions can help you automate professional marketing newsletter - and other newsletters including HubSpot can be simplified, including potential customers and capture new customer information.
Consider consultant for the robot platform built
Robot with artificial intelligence and machine learning can taste the ultimate solution provides 24/7 personal assistant and personal service for all customers. The robot can get work done better, for example, in terms of personal finance, customers want to learn how to save, how to get more in return, get recommendations wealth accumulation, NLP-based machine learning and artificial intelligence will play a good role.
While it is easy to robotics consultant solutions as an enemy, but doing so is likely to miss a lot of opportunities. And Wealthsimple and Nest Wealth (smart investment adviser platform), many companies have created a platform for consultants, it is worth a try. Although the case can not really replace humans, but intelligence consultants can make your work more efficient, and without sacrificing excellent customer service to help you expand your customer base.
Make your CRM system has become operational hub
This seems to be biased from CRM software vendors, but the financial system is indeed part of your CRM organization digital transformation indispensable. It is much more than simple storage customer telephone number. It is the business practice of the central nervous system: a single location to capture and organize KYC information; tracking of family members (highly recommended), and set up automated workflows and reminders, so you never miss a beat.
In addition, many CRM software vendors offer integration with marketing and customer services, as well as integrated ERP systems, BI platform and the like. With these, you can effortlessly trail information into the CRM system. Once merged into a unified view, you can easily classify your customers based on age, location, family structure, etc., and a deeper understanding of personal financial services needs and preferences of your customers.
Yet another advantage is that by integrating with e-mail and call solutions CRM system, you can create a complete, current, and organized record of customer communications. This will not only ease the conversation seamlessly where you left off - you can easily be traced back to your step and establish compliance and auditability in each step. For example, through the use of financial CRM:
Wealth Management: the future of financial services reserves here.
Today, customers want a personalized experience when they need to communicate, active and effective insights, and program development plans around the goals. Learn how to dramatically improve the efficiency consultants and build lasting customer relationships.
Banking: Banks become customers of all ages.
Practitioners retail banking and commercial banks can obtain a wealth of customer profile in various products and business areas. Employees can rely on informed insight to discover new business opportunities to interact with potential customers, convert more sales leads, maintain and build lifelong customer relationships.
Insurance: to meet the needs of each policyholder changing.
The integration of social media, web and email channels into a comprehensive, provides excellent service when customers need most - all this can be done in a single platform instance.
Capital Markets: your organization to provide customers with world-class service.
The industry's most influential investment banks and many companies depend upon the buyer CRM to help them securely collaborate, streamline customer interaction processes.
Big data can help personalize as big data analysis can help extend a single view to the consumer. Companies can use data on social media sites to better understand the customer. In addition, the data obtained from the previous online searches and purchases can help target the right people. The successful implementation of digital transformation, increase brand awareness and revenue, increase customer base, enhance the customer experience, and the formation of competitive differentiation.
While change can not happen overnight, but there is nothing to worry about. There are many cost-effective alternative that can help you start your digital transformation, we can help you get started digital transformation. By using digital solutions, you can help you and your team, and you lay the foundation for future more profound changes.
To learn more, visit the official website Yihai software http://www.frensworkz.com/