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Digital Customer Experience: Four Trends across Africa's Banking and Financial Services
However, the pandemic has forced the banking and financial sectors to go digital (https://bfsiitsummit.com/
Here are four digital CX trends across Africa's banking and financial services that institutions should watch out for:
1.Using mobile app data to improve products and services
The majority of institutions are going digital by launching their own mobile apps; these apps collect a lot of consumer data that institutions can use to enhance the customer experience. Data analytics systems and machine learning algorithms help you extract useful information from this consumer data, which can then be used to build new products, enhance existing processes, better empower customers, and improve the overall customer experience.
Stanbic Bank, one of Uganda's largest commercial lenders, is encouraging customers to transition to its digital banking systems by waiving digital transaction fees in order to improve their customer experience.
2.Integrating Artificial Intelligence with human power
One of the most important customer touchpoints is when they call the helpline for assistance. Nothing can be more aggravating for a customer than calling their bank's customer care to report a problem only to be placed on hold.
When encountering a problem, users may now consult AI-enabled chatbots (https://www.exito-
3.An automated onboarding process
As the adage goes, "first impression is the best impression,"
Banks and regulators in Africa are gradually changing their minds about cloud hosting. By moving to the cloud, banks regain control of their business models and innovation cycles, allowing them to develop excellent consumer solutions with agility and speed.