Customer-facing professionals are likely to use the latest smartphones and tablets with advanced user interfaces in their daily lives. They drag and drop, double tap or even speak to their mobile devices to get things done. However, when they are at work, they are forced to use dated software and technologies. The complexities of this older software make it difficult for front-end staff to engage with customers and complete tasks, making them less enthusiastic in their roles.
First, UFE cuts the costs of various operations. For example, VeriPark’s clients can now fulfil customer requests between 17% and 48% more quickly because their staff are only using one application, rather than several. In addition, UFE enables banks to authentic users and transactions via biometrics, debit card pin validation or smartphone-based passwords. This eliminates the expensive step of signature and transaction verification.
Finally, the third significant benefit of UFE is that it helps tellers turn into sellers because they can spend more time engaging with customers and finding ways to increase the bank’s wallet share. UFE applications have integrated machine learning models that predict what ‘next best actions’ sales associates should present to individual customers, enabling them to suggest relevant products or services. Without these systems providing guided selling assistance, sales associates do as they’ve always done and try to drive sales in areas where the bank is missing targets. For example, an associate may offer a customer a credit card if the bank is missing sales targets on that product, without realising that the customer cancelled their credit card the month before. This type of sales attempt is valuable to nobody – and it annoys the customer.