Meet ‘Penny,’ CRM Dynamics’ AI-enhanced brandable chatbot for Financial Services

Financial services organizations are increasingly looking to balance the value of digital banking with the benefits of human and personal touch.   According to McKinsey, “60% of active banking customers use digital channels.”  This is only increasing in our current COVID-19 climate. 

However, sales of new products and services – is still very much an analog process. Customers start with research on the internet, browse through sites and when ready to buy – call or visit a branch.   There is no connection between this passive research phase and the initiation to buy.  Sales teams within the financial services industry have little insight into where prospects have browsed, how qualified they are, and more importantly what they have found so far.  We see it at a macro level – but very little insight for an individual consumer.    There is little linkage between the browsing ‘research’ process to that first call of action, “I want to open a new account” or “I am interested in a mortgage.”

Winning the sales journey is all about understanding your customers’ buying behavior and connecting it to personalized experiences.

Our goal at CRM Dynamics is to link the initial research and browsing phase of the customer journey directly to the next action, which is to become a new customer.  Start on the web, initiate a conversation – with bots and digital agents, once qualified, ensure that they are connected to the right professional or online tool to convert ‘Browsers’ to Customers.

It really is all a part of a value chain.  Prospects can begin by engaging with ‘Penny’ a natural language processing bot – who is a friendly virtual greeter.  Penny answers questions, guides to specific content on your site, points out helpful sales tools, and provides a warm and seamless handoff to a human digital agent.   What’s a digital agent?  Think call centres – but using chat.  As prospects are qualified, they are connected to your financial services professionals – from mortgage sales, investment sales to new accounts.   Your team also has access to the chat history with ‘Penny’ so there is no guessing on what prospects are interested in, that information is handed seamlessly to you.

‘Penny,’ CRM Dynamics’ AI-enhanced brandable chatbot, uses natural language processing to understand incoming questions and inquiries.  Penny’s data library includes hundreds of Q&A’s specific to financial services organizations and products, including Savings, Loans, Financial Planning, and more.

The Dynamics Omni Chat Blueprint offering also comes complete with a standard setup of queues, workstreams, routing, notifications, and escalations based on the prospects’ interaction with Penny.  Throughout the conversation, Dynamics Omni Chat uses emotion AI for an ongoing sentiment analysis which triggers a variety of responses from Penny, or an automatic escalation to a human digital agent. 

Other helpful features of this solution include Agent and Supervisory tools such as 360 Degree views of conversations with browsers, consulting, quick messaging, and links where both contacts and case information are prefilled.  Dashboards packed with helpful data are also at your fingertips to allow for intraday monitoring, deep sentiment analysis, and overall service level trends. 

Through the entire value chain, you’ll have data collection used to improve your sales processes.  All while providing your new customers’ choice.  Because that’s how the digital sales challenge is won – choice for your customers.

Interested in learning more about Penny, the Dynamics Omni Chat solution for your Financial Services Institution?  Reach out to us today.

Martha Schrader

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