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giosg Blog

If Insurance’s first six months with AI-powered chatbot Emma [Infographic]

Posted by giosg.com on September 26, 2017

The hype around AI applications that is about to swipe through industries and the customer service function, in particular, is enormous, but so far we've seen little real-life experiences how the chatbots function, how's it like to implement one and what the results are. That's why we put together an interview with one of the early adopters of chatbots, If Insurance.

How to engage with financial services customers whenever and wherever [How-To Guide]

Posted by Päivi Harju on September 7, 2017

Disruptive innovations are reshaping the way financial services are structured and consumed. Setting up a 'virtual branch', that allows financial service providers engage with potential customers on another organisation's domain, is a great way to meet evolving customer expectations using rapidly advancing technology. By integrating real-time credit counselling seamlessly with the purchase journey of a partner site the context where the service is provided is significantly better than in any other form of digital service.

Take booking for a holiday, for instance. Many of us have a ready-made list of dream holiday destinations in our mind, but the reality is that a loan can sometimes be what is needed to bring our plans for a honeymoon, birthday celebration or annual vacation to live. Then, what better moment to be offered financial advice than when we are online browsing for travel services and comparing options? 

Creating a high-performing relationship between a financial giant and a tech firm [Video]

Posted by giosg.com on July 5, 2017

In today's digital age customers expect to receive top-of-the-line service and user experience when and where they want it. This puts companies under pressure to find new ways to impress customers and differentiate from the competition in an increasingly populated digital marketplace. To build an environment that nurtures innovation and meets the ever-evolving expectations of customers many businesses are now collaborating with smaller tech firms (like us!).

As a part of this, in November 2015, Danske Bank launched a new service called ‘Dreams come true’ with the help of Giosg. The solution provided uses intelligent analytics to first, find potential customers in the business’s partner network and then secondly, to offer these customers an opportunity to get real-time professional advice and financial solution when and where they need it. 

Banks no longer have to compromise between security and effective online tools

Posted by giosg.com on April 3, 2017

Digitalization has reshaped the way financial services are structured, marketed and  provided. Customers today want personalized, flexible service regardless of when, how and where they want to bank. Banks are churning out smart solutions, cloud platforms and mobile apps, and consumers are embracing the change.

In a bid to speed their online presence many banks are collaborating with smaller tech firms (like us!) to build an environment that nurtures innovation and meets the ever-evolving expectations of customers. This collaboration helps all parties; smaller companies can offer banks the benefits of high specialization without major investments. In return they gain market visibility and a brand boost from collaborating with well-known banks. The collaboration also serves as an excellent platform for sharing ideas, experiences and know-how.

Until recently, however, many smaller companies have struggled to meet the bank-level security requirements. This has often forced banks to choose compliance over great technology. In an industry where confidentiality means everything, security is considered near-sacred. Banks are also faced with increasing legal requirements, most recently in the form of the tough new General Data Protection RegulationFortunately this is finally being recognized by companies like giosg that are investing into security like never before. 

How to improve the efficiency of customer service? [Best practice]

Posted by Päivi Harju on March 23, 2017

In the digital age providing customers with omnichannel customer service has become more of a rule than an exception. Reliable, receptive and timely responses are the most important characteristics that come to mind when thinking about what is important to the customer, regarding service. Still, from the business point of view, there is a big difference in how these objectives are achieved.

Although customers today expect to receive the same level of service regardless of the channel they use, the fact still is that some support channels are more cost-efficient than others. As mentioned in our previous blogs (here and here), the biggest shortcomings of the phone support compared to live chat are higher operating costs and the mere impossibility to have more than one conversation at the same time. Live chat, on the other hand, changes the work of the customer service agents from one-at-a-time processing rate to taking care of 3 to 7 tickets simultaneously. That enables customer service to solve tickets quicker and, also cuts costs as fewer callbacks are required.

Even though self-service is certainly an essential part of digital customer experience, it is much better for both the customer and the company to get the necessary information right in the first time. Handling forms with incorrectly filled in or missing information takes a lot of customer service agents time whereas forms filled correctly can be processed and solved almost automatically. With CoBrowse technology the agent can provide hands-on assistance online so that all sections of the form can be filled the first time correctly.

It is good to make sure you have the best practices in use to direct customers toward the most efficient customer service channels to generate the right value for both your customer and your business. A client of ours, If Insurance (If), provides an excellent example of how a company can enable efficient and smart handling of customer requests in an online environment.

Naked experience - the banking disruption in my pocket by Petra Mengelt [Guest post]

Posted by Petra Mengelt on November 16, 2016

For all of us at Giosg, it's a true honour to host Petra Mengelt from Euroloan, a seasoned expert of customer experience in the financial industry, on our blog. We have learned a lot from Petra while working with her and listening to her in various stages and conference halls across the Europe. We are sure that her words will shake up your expectations whether you're working to push the financial industry into an era of superb (digital) customer experience, or assessing the experience as the customer.


The Banker said “No!”

Remember the times when mum and dad were getting ready for a meeting at a bank back in the day? Is dad’s tie correct and mum’s skirt long enough? Do they look goodenough to make that critical first impression on the loan officer?What will he think when they arrive, hat in hand, to get the loan for the new appliance?

Immo at Banking Horizon: Contextual services in digital environment [Speaker notes]

Posted by Immo Salonen on October 20, 2016

A summary of a presentation held together with Danske Bank at Banking Horizon 2016 event on 18th of October 2016 in London. The presentation was about how online retailers can utilise partnerships and provide consumers with all the relevant services throughout the partner network. 

How banks can engage with customers and generate sales online

Posted by Päivi Harju on October 19, 2016

Like mentioned in a recent Finextra article, there’s one fundamental thing that separates banks from many other businesses; customers don’t want to do business with them. Customers don’t want a mortgage; they want a home. They don’t want a loan; they want a car, or a holiday trip, or something else. Banks for a customer are a means to an end. And those banks that get this also recognise that they need to be offering services beyond the banking product.

Then, how can banks offer services online? A typical situation now is that a website has been designed to bombard visitors with everything possible. Still, for example, new and returning visitors often have different kind of needs which means that it would be wise to personalise the offering to meet the customer's actual situation better.

The most important thing, when trying to engage customers online, is to take a look at what customers are experiencing and then think about how to get their attention and help them. One way to do this is to use different kinds of situational reminders, like personalised and informative banners or proactive live chat, on a company’s website.

Let us show you how!