How to Achieve Deeper Relationships and a More Compliant Bank
By Kevin Flanagan, Marketing Director, Micronotes
More and more financial institutions are deploying Micronotes’ AI-driven solution to engage with their customers and drive sales and revenue growth. But there is another important benefit that our machine-learning platform delivers.
Banking is one of the most heavily regulated industries. Most governments around the world recognize the need to ensure that financial institutions handle the money of people and businesses in a legal and consistent way. Banks and credit unions employ teams of experts who are responsible for ensuring compliance with myriad regulations.
Most of our clients run two primary types of campaigns with their customers and members. The first is campaigns designed to help people choose the right products and services for their money. The second is what we call “quick facts,” which is a broad category of conversations conducted with digital banking users during and at the conclusion of online banking sessions.
Quick facts range from quizzes about upcoming holidays and community events to recycling days and opportunities to support charities. But while some quick facts have a lighter tone and are intended to share information and build a sense of community, other topics ranging from cybersecurity tips to financial literacy are where the compliance angle comes in.
Many of our clients use Micronotes campaigns to educate their customers and members about important topics related to their financial well-being.
On the topic of cyber security alone, financial institutions face a number of requirements—from multiple regulatory bodies—to educate their customers about cyber threats and how to protect themselves and their assets.
So, not only do our clients use Micronotes to build deeper relationships with their customers and members, they also are using our platform to comply with industry regulations. And we’re proud to help them with that important work.
