The financial service segment is evolving every year. With that, financial services institutions and banks are shifting their focus to CX (customer experience).

The trends of customer experience in financial services can be different every year because of the changes in the interaction between customers and businesses.

What to expect this year?

Chatbots to the rescue

This year, chatbots will play a vital role in enhancing customer experience across the financial services segment. However, many organizations are still hesitant to use AI. The trend will change in 2022 with more companies will embrace chatbots gracefully.

According to reports, the adoption of AI surged by 67 per cent between 2018 and 2020. Furthermore, by 2023 chatbots will

· Save working hours of the bank

· Carryout 79 per cent of banking transactions on cell phones

Omnichannel customer service

Financial institutions will shift from multichannel to omnichannel this year. The financial services are poised to stay in line with other industries and invest in technology.

The customer engagement in financial service will be redefined through a fluid, streamlined, integrated, seamless, and personalized manner with omnichannel.

Self-service options

According to Gartner, 85 per cent of customer interactions will be automated by 2020. The fact is true because more people prefer web or mobile self-service over speaking with an agent by mobile.

Things that will change this year:

· ATMs will have enhanced concierge service.

· Websites will have a live chat agent to assist customers anytime.

Twixor is a Singapore-based IT and services company that provides tailored solutions to businesses for customer interaction, etc.

The company can help financial services to remain buoyant in the market by

· Addressing critical technology needs

· Allocating resources to fuel innovation

· Driving more efficient spending