building banking relationships by humanizing digital ... · relationships by humanizing digital...
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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
16
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
18
19
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