At a conference a couple weeks ago someone asked me what the number one most important upcoming technology there was for banking. Without hesitation I answered, “artificial intelligence”.
Credit Union Community
When I first started credit unions, branches were the thing. Home banking hardly even existed at that time and involved things like sending disks to members so that they could dial in to your organization like it was AOL.
Many credit unions are successfully building the fundamental skills and infrastructure they need to utilize data more effectively. They’re aggressively investing in analytic tools, staff skills, and warehouses, but less so in the newer tools of decisioning, fraud, and predictive machine learning and AI technologies.
The fifth AXFI Conference is going to be bigger and better than it’s ever been, now offering attendees three programming tracks focused on real-world, actionable takeaways: analytics, innovations, and cyber security.
Take your pick:
Thanks to voice technology, the way people search for information is changing fast. It seems to have happened out of the blue, but for those who were paying close attention, the writing was on the wall.
There’s a reason that in just five short years the AXFI Conference has grown from less than 50 attendees to more than 250: it delivers insights that offer real value to all levels of credit union management, C-Level, VPs, managers, and tech staff.
Nothing has an impact on customer engagement quite like brand equity does. A strong brand reputation takes time to build, and is challenging to maintain, but your credit union’s long-term success depends on enhancing its image in the eyes of your members.
There’s a lot of good news surrounding the growth of voice-first devices. As reported by VoiceLabs, nearly 25 million of the devices shipped in 2017, bringing the total in use to 33 million. Amazon’s Echo, Tap, and Dot, as well as Google Home, dominate the field, but Apple, Samsung, and Microsoft are also important players.
Even Amazon is surprised by how much people love Alexa. The enthusiasm that resides in the company’s Echo line of devices should really come as no surprise, though. People love convenience, and what’s more convenient than a simple piece of equipment that helps you shop, listen to music, check the weather, stream video, or that offers a joke of the day? And it does it all by responding to someone’s voice.
Financial institutions have long been accused (often justifiably) of being slow to adopt emerging technologies to improve the customer experience. But one innovation is gaining acceptance more quickly than we've seen in the past: voice-first devices.