
Key insights
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Financial institutions must shift their focus to CX
All industries, including financial services, are experiencing a shift in customer behavior and expectations. As a result, it's important to adopt a personalized approach to provide the best possible customer experience. Both new fintechs and established banks are investing in CX -- and there are a few important things they're doing to communicate better, and with different audiences.
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Traditional methods are still relevant
Companies that will see exponential growth are those that are investing in innovation. However, institutions that are serving various demographics, like financial institutions, must consider all their customers, because some customers will like to see new, modern tools, while others may be satisfied with what they already use. They key? It's all about understanding where your customers are, what their preferences are, where they feel comfortable talking with you, and being able to provide the channels you want.
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Automation, if done right, can help personalization
Companies must achieve a balance between the efficiency of AI and the value a human brings to the conversation. Customers might be leaning toward a self-service option, but many still want to know a human is behind the brand and can jump in to help whenever they need it. Tools like ChatGPT can help, but companies need to make sure they're using it in ways that don't compromise CX.
