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Future of CX: Making it personalised, digitised, and humanized – A Fintech Industry perspective

The developments around AI in general and Generative AI in particular has got the whole world awake on how they can use this to enhance their own customer experience. Even before the buzz around AI started, organisation were getting warm to the idea that they needed to look customer experience from a different yet wholistic lens. To delve deeper into this we caught up with Anamika Chatterjee, Head, Retail Customer Service, Hero Fincorp (a prominent NBFC primarily engaged in offering two wheeler loans in additional to other financial products and services) and Prashant Kancherla, Chief product Officer, Ozonetel for a fireside chat moderated by Ashwin Moduga, head of Research, Mosaic Digital.

The discussion revolved around the idea that how customer experience was now evolving and coming out of the shadows of a single siloed independent business unit and becoming the “heart” of the organisation cutting across departments. The speakers pointed out that challenges that any technology investments undertaken to improve CX went through a rigorous approval process, however, the business leader were now more willing to make those investments as realisation of importance of CX was now understood.

Prashanth Kancherla from Ozonetel shared an interesting insight that any CX solution implemented had to work across channels and geographies. For example a WhatsApp based FAQ automation could serve a certain set of customers in Urban areas such as Delhi and Mumbai. However, the same FAQ automation if done via a voice bot in local language such as Bhojpuri would also serve the need of a Tier IV town as well.

Anamika Chatterjee from hero Fincorp. very well summarised the discussion by giving the term Total Experience and urging the industry stakeholders to use that instead of Customer Experience. Total Experience is a comprehensive approach that encompasses all interactions a customer has with a brand, including digital, physical, and emotional touchpoints. It goes beyond traditional Customer Experience to prioritize the holistic journey and satisfaction of individuals throughout their entire engagement with a company.