"Hey, Erica, Make Me an Offer"

"Hey, Erica, Make Me an Offer"

Did you see the news from Bank of America that its digital assistant, Erica, handled 50 million customer requests in its first year? Erica is good at responding to customer requests, but there’s no mention of it being able to initiate conversations or make personalized offers to people. Wouldn’t that ability be much more valuable?

Empowering the Digital Marketer

Empowering the Digital Marketer

Devon Kinkead, founder and CEO of Micronotes, spoke at the 2019 Fiserv Forum client conference. His presentation, “Empowering the Digital Marketer,” was part of the Forum’s session on artificial intelligence and analytics. Read the transcript of his talk to discover how AI can change the way bankers market to their digital customers.

Keeping Customers, But Losing Business

Keeping Customers, But Losing Business

Traditional banks are keeping their customers, but losing business. According to industry analyst Ron Shevelin, “Checking accounts have become ‘paycheck motels’—temporary places for people's money to stay before it moves on to bigger and better places. The cause of this is deposit displacement: the displacement, or diversion, of funds from traditional accounts (i.e., checking) to alternative accounts.”

The ABCs of AI & ML

The ABCs of AI & ML

The concept of artificial intelligence is still pretty abstract for most people. Just about everyone has heard the term, but unless you work in the industry or regularly use an AI-based application, you probably aren’t clear on precisely what it means. The same goes for machine learning. In fact, many people think AI and ML are two different technologies. That’s not the case at all.

Conversational Banking: The Future Is Now

Conversational Banking: The Future Is Now

A recent article in The Financial Brand discusses how conversational engagement is a requirement for success in digital banking. Given that Micronotes is in the business of providing our banking clients with an artificially intelligent marketing automation solution for digital banking, I was curious to read more. But I was surprised to see that the capabilities we provide to our clients today are still seen as “futuristic” by the author.

Are Chatbots a High-Tech Female Stereotype?

Are Chatbots a High-Tech Female Stereotype?

You may have noticed that many of the chatbots offered by banks feature female “personalities” and names, much like the digital assistants sold by Apple (Siri) and Amazon (Alexa.) In a time of radical evolution in the development and deployment of technologies such as artificial intelligence machine learning, these stereotypical female “helpers” seem especially tone deaf.