It’s no secret that the contact centre industry faces significant challenges. Between the lingering effects of the COVID-19 pandemic and ever rising staff turnover and burnout, the contact centre status-quo is looking increasingly unsustainable. In fact, 72% of call centre workers say they are currently facing burnout. This has an inevitable impact on the quality…

In recent years, the priority in contact centres has been to develop digital self-service initiatives. In part spurred by the COVID-19 pandemic, these initiatives aim to empower customers to resolve their problems without the assistance of a human agent. Human customer service agents face an overwhelming number of calls every single day. And contact centres…

Developed in the 1970s, IVR technology has been a mainstay of contact centres for decades. IVR often allows a user to interact with customer services using a combination of their voice and DTMF button presses on their phone’s keypad. When a customer first rings into a call centre, an IVR system is likely the first…

Earlier this month, graphics technology giant NVIDIA announced a partnership with Deutsche Bank to promote the use of AI and machine learning technologies in the financial industry. One of the strategic priorities of this partnership is to improve customer service using interactive avatars, and NVIDIA suggests that future use cases of this technology will “explore…

Contact centre technology is constantly evolving, but the core of the contact centre experience has remained the same for decades. At their heart, contact centres rely on skilled human agents to assist customers to the best of their ability. However, in the near future, this fundamental aspect of the contact centre could be set to…

For some time now, the number of bank branches in the United States has been on the decline. In fact, with the rate of bank closures doubling every 3 years, the last US bank branch could close by 2034. From HSBC's 441 branches in the UK, 114 branches are being closed today, and since 2015,…

For large organisations such as traditional retail banks, updating and digitising customer service can be an enormous challenge. There are many moving parts in banks, making it difficult to provide seamless customer service online, in-branch, and over the phone. Additionally, in a rapidly changing and increasingly fast-paced world, customers want their queries solved quickly, if…

The last few months have not been kind to some of the world’s largest technology players. Meta, the owners of Facebook, Whatsapp, and Instagram, recently saw their value tumble by over $80bn - almost as much as their IPO value in 2012. The recent decline in advertiser spending has been triggered in part by the…

From chatbots and robotic process automation to digital banking platforms, technology in the banking sector is evolving at a rapid pace. In this quickly shifting landscape, banks of all sizes need to reassess their digital strategies to ensure that they’re getting the most out of technology.  Banking technology is evolving, and so are the expectations…

In recent years, there has been a surge of investment in artificial intelligence technology for banks. For instance, in 2020, Cornerstone found that 38% of banks and 51% of credit unions had discussed implementing AI technology at the board or executive level.  The desire to enhance customer service is frequently a key driver behind these…