• Login
  • Status
  • Support
  • Partners
  • Pricing
  • Careers
  • ENLanguages
    • English
    • Deutsch
    • Français
    • 日本
    • 简体中文
    • العربية
    • 한국
    • Español
Customer Experience (CX) AI Platform
  • Customer Experience (CX) AI Platform×
  • Platform

      CXone Mpower Platform

      • Platform Overview

        Complete AI platform for customer service automation

      • Enlighten AI

        Powering smarter CX with AI-driven insights and automation.

      • Cloud Architecture

        Innovative cloud-native foundation to rapidly scale extraordinary CX

      • Dashboards & Reporting

        Gain a full operational picture of your contact center, with enhanced visualization of real-time and historical insights

      • Integrations

        Seamlessly connect your business systems with our platform

      • Trust & Compliance

        Securing your trust with every interaction

      Discover the full value of AI in customer service

      Understand the benefits and cost savings you can achieve by embracing AI, from automation to augmentation.

      Calculate your savings

    • Products
      • Explore all Products

      • Capabilities

      • Interaction Orchestration

        Interaction Orchestration

        Orchestrate all interactions and workflows across every customer service touchpoint.

        Learn more

        • Omnichannel Routing

          Reduce wait times and boost conversions with smart customer-agent matching.

        • Proactive Engagement

          Generate more revenue, minimize hang-ups, and proactively connect to reduce friction.

        • Voice as a Service (VaaS)

          Deliver crystal-clear voice quality and global reach backed by a money-back SLA and seamless CRM integrations.

        • AI Orchestrator

          Unify and optimize every customer service workflow from intent to fulfillment.

        • Agent Desktop Workspace

          Connect front and back office teams with data, conversations, and workflows together in one place.

      • Workforce Augmentation

        Workforce Augmentation

        Amplify team performance with specialized AI copilots for every role.

        Learn more

        • Specialized AI Copilots

          Elevate human performance with specialized AI copilots for every role.

        • Workforce Engagement Management

          Elevate employees, adapt to flexible work, and meet expectations - without compromise.

        • Automated Agent Notetaking

          Instantly summarize interactions - accelerating resolution times and agent efficiency.

        • Voice of the Customer

          Unlock customer insights to enhance experiences, drive loyalty, and boost business growth.

        • Interaction Analytics

          Gain AI-powered insights from 100% of interactions to drive continuous improvement.

      • Service Automation

        Service Automation

        Automated customer self-service solutions increasing retention rates.

        View Products

        • Intelligent Virtual Agent

          Boost self-service satisfaction and conversion with conversational AI agents.

        • Experience Optimization (XO)

          Synthesize real customer conversations to identify your top automation opportunities.

        • Proactive AI Agent

          Keep customers engaged in conversation from onboarding to installation, service, and retention.

        • Knowledge Management

          Activate AI-powered enterprise knowledge to increase self-resolution rates and loyalty.


      • Solutions

      • By Industry

        By Industry

        • BPO

          Business Process Outsourcers

        • Financial Services

          Customer experiences that count

        • Government

          Elevate citizen trust

        • Healthcare

          Healthy patient experiences

        • Insurance

          Secure policyholder experiences

        • Retail

          Delight customers where they shop

        • Telecom

          CX for Telecommunications

        • Travel & Hospitality

          Boost traveler and guest loyalty

        Discover the full value of AI in customer service

        Understand the benefits and cost savings you can achieve by embracing AI, from automation to augmentation.

        Calculate your savings

      • By Business Initiative

        By Business Initiative

        • Grow Revenue

          Boost conversions and win rates to accelerate growth

        • Engage & Empower Employees

          Create a workplace of truly engaged employees

        • Boost Customer Loyalty

          Improve customer loyalty on interactions across the journey

        • Drive Digital Transformation

          Integrate digital technology at the center of CX

        • Small and Medium Business

          Drive growth and boost revenue with smarter, cost-effective customer service built for SMBs.

        • Call Center Software

          Empower agents to provide better experiences

        • Increase Operational Efficiency

          Leverage AI and automation to increase agent retention

        • Move to the Cloud

          Elevate experiences by moving operations to the cloud

        • Improve Compliance

          Protect your consumers with pre-built compliance solutions

        • Proactive Customer Engagement

          Elevate customer satisfaction with proactive conversational AI

      • Integrations & Custom Solutions

        Integrations & Custom Solutions

        • CXexchange Marketplace

          Discover partner solutions to extend capabilities on our platform

        • Pre-Built Integrations

          Seamlessly connect your business systems with our platform

        • Developer Tools & APIs

          Endless customization options with RESTful APIs and robust SDKs

        • Partner Ecosystem

          Embark on a journey of shared success and collaboration

        91% of customers recommend NiCE as a preferred CCaaS vendor

        Gartner® named NiCE the only Customers’ Choice CCaaS vendor in its 2024 Peer Insights™ “Voice of the Customer for Contact Center as a Service” report.

        Get report


      • View All Products
    • Services
      • Explore all Services

      Professional Services

      • Professional Services

        Industry-leading expertise, tools and know-how

      • Implementation Partners

        NICE-certified implementation partners

      • Business Consulting

        Your partner for successful transformation

      Training

      • Contact Center Training

        Tailored education delivered by CX experts

      Support & Assistance

      • Customer Support

        Global support you can depend on

      Make the smartest buying decision with the latest Gartner analysis

      NiCE has been named a Gartner® Magic Quadrant™ Leader for Contact Center as a Service for the 10th consecutive year and is positioned furthest on Completeness of Vision.

      Get report

    • Resources

        Knowledge Base

        • All Resources

          Whitepapers, datasheets, demos and more

        • Analyst Perspectives

          Contact center reports from third party analysis

        • Terms Glossary

          Detailed descriptions of industry-related terms

        • FAQs

          Contact center focused frequently asked questions

        • Guides

          Expert insights for superior CX

        Learning & Insights

        • On-Demand Webinars

          Browse our extensive webinar catalog

        • Interactive Product Tours

          Explore the complete platform with our self-guided demos

        • Blog

          CX industry guidance by contact center experts

        • Why NiCE? Video Series

          Step Inside The Room Where It Happened to see CX AI in action

        • NiCE & Simple: Video Demo Series

          Brilliant, bite-sized videos from our top product pros

        Community

        • Events

          Upcoming events and webinars

        • Customer Stories

          Our customer's success is paramount. Read case studies about real CX transformation

        • NiCE Clubs

          Collaborate, learn, and share best practices for customer service excellence

        Discover the full value of AI in customer service

        Understand the benefits and cost savings you can achieve by embracing AI, from automation to augmentation.

        Calculate your savings

      • Company

          Company

          • About Us

            Powering seamless cloud experiences

          • Investors

            Investors relations, reports and filings

          • Global Offices

            Interactive map of locations worldwide

          • Careers

            View job openings and learn about our culture

          • NiCE Leadership

            Meet our global leadership and executive team

          News & Media

          • Events

            Upcoming events and webinars

          • Press Releases

            Find the latest updates from NiCE

          • Media Center

            Media contacts and resources

          Corporate Governance

          • NiCE Trust Center

            Securing your trust with every interaction

          • Market Leadership

            Discover why NiCE is the market leader

          • Corporate Responsibility

            In a world where you can be anything, be NiCE

          Make the smartest buying decision with the latest Gartner analysis

          NiCE has been named a Gartner® Magic Quadrant™ Leader for Contact Center as a Service for the 10th consecutive year and is positioned furthest on Completeness of Vision.

          Get report

          • ENLanguages
            • English
            • Deutsch
            • Français
            • 日本
            • 简体中文
            • العربية
            • 한국
            • Español
          • Get Started
            • Login
            • Status
            • Support
            • Partners
            • Pricing
            • Careers

          Company

          • About Us
          • Careers
          • Global Leadership
          • Media Center
          • Investors
          • Awards
          • Global Office Locations
          • Contact Us
          • CCaaS
          • Customer Experience
          • NiCE Public Safety
          • NiCE Actimize
          • NiCE RPA

          Partners

          • NiCE Partners Overview
          • Developer Partners (DEVone)
          • CXone Mpower Partner Portal
          • NiCE Help Partner Portal
          • NiCE User Group

          Customer Support

          • Customer Support Overview
          • CXone Mpower Support Login
          • NiCE Customer Support
          © 2025 NiCE
          • Terms of Use
          • Site Map
          • Privacy Policy
          • Legal
          • Cookies Settings
          • Accessibility

          Stay Connected

          © 2025 NiCE
          credit card and mobile phone

          5 ways CX can help financial services institutions better serve clients and members

          by Mark Ungerman
          March 22, 2023
          Share

          Banks and credit unions face tremendous competitive pressure as the financial services industry moves closer and closer to commoditization and even disintermediation. Today, consumers have more choices for managing their financial assets and transactions than ever before.

          So how do depository and lending institutions survive, let alone thrive? Ultimately it comes down to knowing who your best customers are, what they value most and then exceeding their expectations – along with a healthy dash of operational efficiency!

          The difference between customers and your customers

          The fact that banking services are no longer homogenous is proof that the market is filled with consumers who value unique financial products and services. For example, when financing a car or mortgage, some borrowers may turn to a transactional online lender, while others prefer the personal relationships established with a trusted bank or credit union. The point here is not to say that one way is inherently better than another. The point is that consumers have a choice and will select the way that is best for them.

          In highly competitive markets, it is common for businesses to target a segment of customers who exhibit similar wants and needs and then to specifically cater to those customers. This explains why it is so important to know who your customers are, what they value most and then deliver what truly delights them. 

          Unprecedented era of digital transformation

          One veteran of the financial services industry said that everything they do starts with the customer (or client or member). Technology is then used as the means to accelerate and improve service. Technology is also applied to help firms innovate faster—something that’s critical, now more than ever, because agility is what is needed to stay abreast of rapidly changing customer demands. This explains why the financial services industry is in an unprecedented era of intensive digital transformation.

          Here are five ways banking customer experience (CX) can help better serve your customers:

          Customers are always communicating not only by what they say, but also by what they do. Are you listening to everything they are saying? Surveys and voice of customer tools are helpful to understand what customers are saying. But there is much more to their story. It is equally valuable to analyze their interactions. By doing so, we can detect sentiment and find where unnecessary effort is exerted or wants to go unsatisfied. For example, when applying for a loan online, how many chat sessions are started because borrowers cannot complete the process? How many abandoned applications are seen? When support is contacted, what is the root cause? Is the customer calm, frustrated or angry? Listening can also be achieved by analyzing outcomes. What makes the difference between a successfully completed loan application and an unsuccessful one? When you fully enable your listening capabilities and then act on what your customers are telling you, you will see amazing results.

          It is universally accepted that the key to success is being in the right place, at the right time, with the right solution. When it comes to successfully delivering satisfying customer experiences, it is no different—deliver the right solution, at the right time and in the right way. For example, if someone wants to open a new account at 9 p.m. while binge-watching their favorite program, can they? If they get stuck, or want to talk to a human, are they able to? Delivering those perfect experiences is possible when you have the right portfolio of CX applications and building blocks (e.g., CX platform) to design and implement what customers require. This may include voice of customer, voice and digital (omnichannel) engagement, self and live assist interaction, back-office integration, and AI (artificial intelligence), automation, and journey orchestration to pull it all together into one superb journey experience.

          A key component of delivering the right experience is offering smart digital self-service. When people think about self-service the first thing that may come to mind is AI customer service bots—immediately followed by the lackluster reputation most early AI customer service bots are known for. But it is important to know that there are more smart self-service tools available in addition to bots, and that today’s bots have come a long way since they were first introduced and they deserve a second look.

          Often overlooked self-service tools include easily accessible knowledge bases and a newer class of automated “guides.” Knowledge bases are extremely valuable when used to help actively searching customers find answers to questions like what qualifications are needed to receive a credit card, or how to make a late payment. On the other hand, guides sit passively in the background looking for opportunities to interactively offer web visitors more information or to suggest next steps. Guides are an excellent self-service option to coach someone on how to select for the right checking account or to accurately complete a loan application.

          Finally, to deliver smarter self-service, newer bots should also be considered. To borrow a line from the movies “bots aren’t bad, they are just designed that way.” Advanced bots, or intelligent virtual assistants (IVAs) are most successful when they are designed to be fully interactive and modeled after successful, real-world interactions and outcomes. In other words, train an IVA to do what the best employees do. The combination of industry specific interaction data and advances in machine learning and natural language processing are now producing much smarter bots that are being successfully used for self-service tasks like managing account balances, getting application status, making account changes, facilitating payments or to answer frequently asked questions. 

          Providing the human touch will always play a role in delivering the right experience at the right time. To make those human-to-human interactions even more satisfying requires doing even more to empower front-line employees. To do this, contact center software must simply do more behind the scenes to reduce complexity and make it easier for employees to focus solely on solving customers’ needs. This starts with smartly managing work streams by intelligently routing and queuing omnichannel interactions into a single queue matched to an employee’s skills. It means working in the background to accumulate customer and transaction histories from the CRM (customer relationship management) and other back-office systems and presenting it to the employee. It means using AI to guide employee actions based on successful, similar interactions and outcomes. It means using process automation to complete after call work accurately and with consistency. It also means supplying constructive feedback and training allowing employees to improve. Imagine the boost to your brand and the resulting satisfaction customers receive as employees show confidence, competence, and professionalism with each live assist interaction. 

          Making transformational changes is hard. But what is even more difficult is making these changes repeatedly with speed and agility. Fast changing industry dynamics and customer preferences require constant change with speed and agility.

          For example, as Federal Reserve benchmark rates began to steadily rise in late 2022, demand for lending products fell while demand for CDs (certificates of deposit) and higher interest rate savings accounts increased. This meant that the industry needed to reprioritize their product offerings which also caused changes in supporting customers through a fundamentally different buying journey.

          Having a well-appointed CX tech stack is vital. Having a CX interaction platform from a single vendor is even better. Obsolescence, and incompatibility in any part of your CX technology portfolio can hinder innovation and agility.

          Leverage the power of banking CX

          The best way to survive and thrive in the fast-changing financial services industry is to lean in and leverage the power of banking CX to not only identify and understand who your customers are and what they really want, but to also give them what they value most.

          Transforming customer journeys and customer experiences can yield compound benefits on profitability. Digitally enabled and transformed processes often result in double-digit operational savings. For example, self-service is a proven tactic for achieving call deflection which lowers call arrival rates. This increases capacity and allows more live assist interactions without incremental investment. In addition, training, automation, and AI coaching all reduce average handle time which lowers cost per contact and overall cost per service.

          And while qualitative, it is understood that there is a strong connection between customer satisfaction and healthy revenues. Customer acquisition costs are lower, and customer retention rates and associated lifetime value are higher. The bottom line: more top-line growth, less operational expense, and a healthier bottom line. And you can take that to the bank!

          NiCE helps depository and lending financial services institutions deliver superb mobile, online, and digitally transformed customer experiences. Learn more here.

          About the Author

          Mark Ungerman

          Mark has worked in technical product management and marketing for 20+ years. In his current role as Director, Marketing CX for NiCE, he is responsible for conducting primary research to understand how business leaders use customer experience solutions to increase profitability through improving productivity and customer lifetime value. Prior to NiCE, Mark held influential roles helping technology companies build and bring products to market.

          See All Blogs

          Follow Us

          Follow us to get the latest news from your preferred Social Network

          linkedinlinkedinlinkedinlinkedin

          Popular Posts

          June 12, 2025

          Turning customer service happiness into a competitive advantage

          Read
          Woman on her phone, excited with the launch of NiCE New World

          June 3, 2025

          Welcome to a NiCE world

          Read
          9 ways to unlock scheduling flexibility and gamify shift management

          May 28, 2025

          9 ways to unlock scheduling flexibility and gamify shift management

          Read

          May 20, 2025

          10 NiCE Interactions experiences everyone will be talking about (And why you’ll want to be part of it)

          Read
          3 biggest takeaways on proactive engagement and the future of customer experience

          May 14, 2025

          3 biggest takeaways on proactive engagement and the future of customer experience

          Read

          More from the blog

          AI

          Turning customer service happiness into a competitive advantage

          In a world shaken by political instability, economic headwinds, and societal anxiety, one encouraging trend emerges from NiCE’s 2025 Global Happiness Index: customer service happiness is on the rise.

          June 12, 2025

          Woman on her phone, excited with the launch of NiCE New World
          AI

          Welcome to a NiCE world

          At NiCE, we believe great service doesn’t just happen, it’s something we create. Together. People and AI, united on one platform. That’s how we raise the bar for experiences every single day.

          June 3, 2025

          9 ways to unlock scheduling flexibility and gamify shift management
          Workforce Optimization

          9 ways to unlock scheduling flexibility and gamify shift management

          Agent satisfaction and retention remain a perennial issue in contact center and back-office environments.

          May 28, 2025

        • Listen to understand
        • Deliver the right experience
        • Smarter self-service
        • Empower front-line employees
        • Innovate faster