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Looking back over the past decade of the banking industry will not prepare us for a future that will transform faster than ever. A focus on new technologies, innovation and the application of customer insights will require new skills and a completely different culture than traditional banks have today.
Today, conversational banking has simplified banking to an extent where you don’t even have to visit a bank. Major banks have adopted conversational banking products to simplify banking processes, which will soon be the norm in the banking industry.
More than $1 trillion. That’s how much analysts estimate that artificial intelligence will save the banking industry. Financial institutions should expect a 22% cost reduction in operating expenses due to AI, with most of the savings coming from the front office. But it all hinges on one thing: consumers’ level of comfort with AI.
“Leveraging the power of artificial intelligence (AI) and the surging popularity of messaging apps, conversational interfaces are enabling unprecedented banking engagement and re-establishing relationship banking. Chatbots are a simple, lightweight solution to a host of legacy banking problems, giving progressive banks and credit unions a competitive industry edge.”
Community banks and credit unions must confront some uncomfortable truths about their commitment — or lack thereof — to digital transformation. They are falling way behind larger banks, which is slowly suffocating their relationships with small business banking clients.
What do you know about millennials? Millennials are now turning 36 and stand to inherit trillions over the next 25 to 30 years. How will conversational banking impact this channel?
Experience business without borders while minimizing hardware, risk, cost and maintenance hassles by moving to your phone systems to the cloud. The FoneLogix™ Cloud-hosted PBX framework is simple, smart and scalable on demand, regardless of location. Teleworkers, multi-office locations, and a growing mobile workforce are among the top reasons people choose FoneLogix every day. Our enterprise cloud-hosted PBX Portal is easy to configure, manage and deploy. Add and configure phones with ease as you grow and let our expert team support you with our dedicated LogixCare™ support.”
ENACOMM—a fintech company that empowers banks, credit unions and credit card companies with solutions for improving the customer experience (CX), fighting financial fraud, and increasing operational efficiency—today announced a new reseller agreement with FoneLogix, an Atlanta-based provider of cloud-hosted VOIP Phone Systems, Solutions and Support.
Traditional Legacy systems cost more up front, and over time because users are reliant on their current phone system hardware. But, with hosted PBX and VoIP, you get a future-proofed phone system that continuously updates to provide an unmatched user experience.
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