building banking relationships by humanizing digital ... · relationships by humanizing digital...

Building BankingRelationships by Humanizing Digital Experiences With AI

Michele Elrod, EVP/ Head of MarketingRegions Bank

Artificial Intelligence

Why AI is Important to Regions• Large amounts of data• Real time use of data• Scalability across channels

and marketing strategies• Efficiencies and speed• We believe that through the

use of AI we will be more relevant

Our AI strategy positions Reggie to inform, guide and transact

with / on-behalf of customers and bank associates.

Reggie

Excels At:

Locating Knowledge

Pattern Identification

Natural Language

Machine Learning

Eliminate Bias

Endless Capacity

Associates

Excel At:

Intuition

Morals

Imagination

Abstraction

Dilemmas

Generalization

AI systems

amplify human ability

and cognition

Watson ‘Reggie’ at Regions

• Self-Training Adaptive Models

• Explosion of digital channels and behavioral context

• Sentiment / Tone

• Cases to connect with Reggie (IBM Watson)

AI Considerations for RegionsOptimal Solutions Intelligence Engine

Getting Started

Environmental Changes Create New Expectations

CUSTOMERSChanging

expectations –know me and

meet me where I am.

MARKETERSEvolving skill

set –leverage

automation and analytical

insights.

Deliver more value to the customer

relationship through better

customer engagement

RESULTS

ROSIE

Leverages Rules, Logic and Self-

Learning to Improve Communications &

Enhance Relationships

Campaign Manager

• Ingests, annotates, catalogs, stores, retrieves and distributes digital assets (content).

• Marketing Database • Daily Updates• Feeds Insights Platform

• Campaign Management Tool• Enables Faster Selection Process • Reusable Program Templates

• Data Management Platform• Target Audiences Based on a

Combination of First-Party and Third-Party Audience Data

• Reporting & Analytics Platform• Acceleration of “Learning” Through

Interim Reporting

CCSI Database

Insights Platform

DAM

Data Mgmt. Platform (DMP)

ü Improved customer experience

ü Marketing spend optimization

ü Migration to “always on” marketing programs

ü Increased revenue generated from marketing initiatives

ü Quicker cycles for analytics

Marketing Ecosystem Changes

IRR on Platform prior to implementation

of ROSIE

IRR on Phase 1 ROSIE(Teller, Contact

Center)IRR on

Phase 2 ROSIE(Platform Sales,

IVR)

IRR on Phase 3 ROSIE(Online, Mobile,

ATM)

Future Plans

Strategic Evolution of Approach to

customer and

prospect

25.8%

49.8%

24.9%TBD

IRR – Internal Rate of Return

Creating Business Impact

Meet Rosie

VISIONDeliver a centralized decisioning capability to:

1.

Influence every customer channel

interaction

2.

in a contextually aware manner in

order to

3.

deliver relevant, personalized

next best actions.

Enhance customer experience to drive engagement, relationship

growth and retention

2. ROSIERules

Models

NBA Next Best

Action

1. Channel calls ROSIE

3. ROSIE responds

to Channel

Behaviors& Context

CustomerData

CampaignData

Centralized Decisioning

EVERY

CUSTOMER

EVERY

CHANNEL

CONTEXTUALLY

AWARE

RELEVANT

NBAs

Where we BeganJune 2017 - 2018

2019

In Development / Future Phases

ConsumerBSB

ConsumerBSBCommercial

Wealth

Larger Prospect

Vision

Contact CenterTeller CaptureSales and Service

Transaction DataBanker Context

123 NBAs- Alerts / Notices- Loyalty / Education- Outbound Mktg.

Contact CenterTeller CaptureSales and ServiceATMs

Regions.com

Digital behavior

Outbound calling

reason

IVR Phone Number

source

8500+ NBAs Continue to grow each category - Alerts / Notices- Loyalty / Education- Outbound Mktg.

Online BankingMobile BankingCommercial &

Wealth

Salesforce

Commercial

Contact Center

Join Reggie (Watson) and ROSIE for better experiences

• AI Guided Learning

• Sophisticated Event Processing

• Vision for

Inbound and

Outbound

Progress Towards the Vision

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Orchestrating AcrossThe Enterprise

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• The need for a separate governance team and steering committee is essential

• Business driven deployment to production within hours

• Business Transformation, IT transformation, change control

Marketing AnalyticsBusiness Units & Sales

Channel IT Operations Customer Experience

BI & Reporting

The Future Crosses Many Teams

Organization: The ROSIE Decisioning Team

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Our Future Thinking

AS A CHANNEL/BOT- Authenticates & services customer - Calls Rosie for NBAAS FULFILLMENT FOR A ROSIE NBAAS CONTEXT- Voice and Tone Analysis- Real-time context to impact Rosie’s decision

- Real Time emails- Dynamic Creative- Uniting two programs

- Leveraging data to identify audiences- Personalization

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The Future is ROSIEWATSON

INBOUND &OUTBOUND

DMP

1.Customer starts a

conversation with a Banker

2.Banker

authenticates customer

Customer Voice Call Banker Banker Computer Service Layer ROSIE

COGNITIVE SOLUTION3.

Cognitive Solution

listens to the voice

conversation

4.Using Voice Analytics, Cognitive Solution

communicates an angry tone to

ROSIE

RCIF

PRIORITIZED NBAs

PRIORITIZED NBAs

RCIF

TONE

PRIORITIZED NBAs

PRIORITIZED NBAs

5.ROSIE

responds to the angry tone by updating the prioritized list

of NBAS

KEYWORDS, TONE

6.ROSIE returns

prioritized NBAs

Making ROSIE Smarter

1.Customer calls IVR

2.Customer

Authenticates

Customer IVR IVR Service Layer ROSIE

COGNITIVE SOLUTION – Helps customer fulfill NBA

3.IVR contacts

ROSIE for NBA

4.ROSIE Returns the NBA to the IVR and it plays

RCIF

PRIORITIZED NBAs

RCIF

PRIORITIZED NBAs

5.Customer

Accepts NBA & Cognitive Solution is offered for fulfilment

6.REGGIE walks

customer through

fulfillment steps

Making ROSIE More Convenient

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AudienceSegmentProduct

Mobile

Online

Contact Center

Social

Email/DM

Journeys

Branch

Self-Service

Current Marketing ProgramRAILSAutomated weekly sendRules engine to drive selectionConfigurable parameters

CARSOffers within the engine

ROSIERAILS Channel setupSegment definitionPrioritization algorithmPre-defined profile table attributes

CARSNBAs

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What We’ve Learned

Don’t let the technology define strategy – define your omni-channel strategy first

Each accomplishment leads to another opportunity to evolve

Modify frequently based on the analytics to get the right results

Collaboration, governance, and clear accountability are crucial to success

Orchestration of customer experiences goes beyond inbound. Managing a personalized experience in inbound AND outbound is the ultimate goal to produce engagement

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Key Learnings

• Real-time decisioning requires real-time program management

• Strong Governance – transparent and cross-functional

• The importance of proving out benefits

• Leadership buy-in

• Build the foundation and AI makes it stronger

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Key Takeaways

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Questions

MICHELE ELRODmichele.elrod@regions.com

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Thank You!