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April 26, 2011

To regain customer loyalty and trust in today’s post financial crisis era, the customer must feel personally connected to their bank. Analysis from Bain & Company found that banks that are loyalty leaders enjoy a growth rate that is 10% higher and a cost of funds that is 80 basis points lower than banks that are price leaders. Hewlett-Packard and Avaya are helping banks map a path to unified communications that enhances customer loyalty by placing the customer at the center of all transactions. The two companies have joined forces to provide banks with a customer-centric, humanizing element for assisted self service

HP will contribute its expertise in multichannel communications, while Avaya will offer seamless integration of communications through avatar technology.

While anytime, anywhere banking provides new opportunities for bank revenue growth, the current state of online banking and call center interaction can also leave the customer dissatisfied with the lack of human interaction.

A convergence of multi-channel delivery with communications and collaboration will become necessary to be competitive and customer-centric. Managing this hybrid environment requires a new approach to technology and innovation. 

Banks can integrate disparate communications systems and enable true multichannel integration. This may include the use of Avaya Web.alive, which enables customer interaction through virtual branches assisted by a live-voice avatar.

Unlike traditional avatars with a text-to-speech or simple text interaction, this avatar simulation for banking brings personalized, human interaction to the self-service channel. Bank staff and customers connect in real time, presenting an engaging virtual experience. Collaborative voice-video sessions can be used to walk customers through complex requests. Such interactivity appeals to today’s “always on” customer, while helping banks address staffing issues and the need for greater efficiencies in a world beyond phone-based customer service. With an integrated strategy, banks can maximize email, video, text and even social media channels.
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