British banking and insurance holding company NatWest Group, serving 19 million customers across 12 banking and financial services brands, has taken a bold step towards ensuring the best customer service while prioritizing data protection. Leveraging Nuance Gatekeeper, a cloud-native biometric security solution, NatWest has streamlined its call verification process. This innovative approach allows contact center agents to identify customers seamlessly through natural conversation, eliminating the need for specific questions or security codes.
Nuance Gatekeeper’s implementation has significantly accelerated the verification process, enabling quick and efficient customer identification. NatWest’s move to embrace Microsoft-powered technologies, such as Nuance, reflects a broader industry trend among financial service organizations. Chris Caile, Director of Product Marketing at Microsoft, emphasizes the critical role of well-trained and adequately equipped contact center agents in enhancing customer satisfaction and operational efficiency.
Customers, accustomed to personalized services in various industries, now expect a similar level of service from their financial service providers. Recognizing this shift in expectations, financial institutions are exploring ways to engage and empower contact center agents more effectively. A study commissioned by Microsoft revealed that some UK customers experience extended wait times when contacting financial services representatives, highlighting the need for improved strategies to engage and empower call center agents.
Chris Caile recommends a holistic approach, encompassing employee training, technology strategy evaluation, and data accessibility improvements. The goal is to ensure that agents can serve customers effectively by addressing challenges like siloed departments and data. For instance, public finance organizations are successfully using Nuance Gatekeeper to authenticate callers, as exemplified by the Australian Tax Office’s experience, significantly enhancing agent productivity.
To provide frontline staff with contextual data for improved customer service, financial firms must streamline information retrieval processes and adopt advanced technology solutions. Microsoft’s collaboration with London Stock Exchange Group aims to reshape the future of finance by delivering intelligent analytics solutions through Microsoft 365. Open architecture allows banks to interact with their data more effectively, offering a comprehensive view of real-time customer information.
Microsoft 365 Copilot, a generative AI-powered tool, exemplifies the ongoing efforts to enhance financial services productivity. United Overseas Bank (UOB) is already benefiting from the trial of Copilot, using AI-powered tools to streamline processes and increase the productivity of its employees. With over 50 technology solution providers partnering with Microsoft, including Trade Ledger, which leverages Microsoft Azure for rapid data provision, financial services organizations are at the forefront of integrating technology for increased efficiency.
Microsoft is leading by example, using its technologies, including Dynamics 365 Customer Service and Copilot, to support its vast customer support team. Copilot tools have reduced average handling time by 12%, facilitating faster case resolution and allowing agents to spend more time on complex cases.
Continuous training and AI-powered coaching play pivotal roles in empowering and engaging staff. As employees stay abreast of changing customer conditions and company policies, AI-powered coaching provides insights and guidance. For supervisors and executives, AI-powered technology offers the latest dashboards and views, enabling them to understand and improve agent performance in meeting customer expectations.
Microsoft partners, such as Avaya, Crestron, ITSCREDIT, and Metafile Information Systems, are leveraging Microsoft technologies to provide innovative solutions, ranging from AI-powered workforce solutions to automated accounts payable systems. The overarching theme is to enhance productivity, upskill employees, and meet the evolving needs of modern businesses in the financial services sector.