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High-touch, human-powered communication has been the rule since banks have existed. However, these labor-intensive workflows are costly and don’t scale well. This article explains the disadvantages of manual communication in CX and how AI assistants are streamlining the work of banking and payment teams.
In the high-stakes world of banking and payments, "manual effort" is more than just an exhausting phrase that translates into a budget line item - it is a massive hidden liability.
Recent research confirms that fragmented information systems are the primary driver of operational inefficiency. Knowledge workers waste up to 40% of their workday simply navigating, searching, and piecing together data from disparate sources. This "work sprawl" often forces contact center agents to juggle contexts across 17+ different locations, leaving them with less than half of their time to actually service customers.
When your team is stuck in a cycle of constant context switching, you aren't just losing productivity; you’re paying a "manual tax" that results in significant efficiency losses, increased error rates, and missed customer context, leading to churn.
A Typical Day for a Banking Agent
Take a standard scenario: a human agent must manually summarize a multi-channel conversation to grasp the customer’s history. Two things happen:
- They lose hours of high-value time and inevitably miss critical details, such as a transaction ID or specific customer intent. The financial cost of these errors is staggering, often resulting in compliance fines, lost transaction volume, and high customer churn.
- Then there is the human cost: employee burnout. Asking your most talented people to act as manual data transcribers is a primary recipe for turnover.
At OvationCXM, we’ve built a way out. OvationCXM’s AI Studio allows you to deploy AI-assisted workflows that eliminate the tedium of these manual operations while keeping your brand and compliance guardrails fully intact.
Introducing AI Studio: Your No-Code Command and Communications Center
To bridge the productivity gap, we’ve launched AI Studio - a no-code command center designed to orchestrate and deploy AI agents across your entire organization. Whether you are building Internal AI Assistants to give agents real-time assistance from your knowledge base, or Customer-facing Agents that handle IVR and Chat escalations with full context, AI Studio provides the modular "blocks" to build the workflows you actually need.
What sets our approach apart? Our AI isn’t a bolt-on third-party wrapper. It is native to our architecture. Since it was built into the engine from day one, it doesn't just read your data; it understands the specific context of your journeys. This native integration results in 2x to 5x faster response times and significantly higher accuracy because the data never leaves the secure environment to "think."
The New Agent Workflow: From Transcription and Investigation to Context and Oversight
With AI Studio as the foundation, your contact and support teams move from being manual data transcribers to high-level orchestrators.
1. Instant Multi-Channel Summaries and Context
No more scrolling through weeks of history across Email, SMS, and Chat. OvationCXM’s AI distills fragmented threads into clear narratives, identifying who said what and what needs to happen next with a single click.
2. AI-Driven Drafting and Precision
Starting from scratch is the slowest part of any response. AI Studio generates the "next logical reply" based on historical data and current case status, giving your agents a near-completed draft to review.
3. Brand-Safe Polishing
Whether an agent is typing in quick shorthand or needs to fix mechanical errors, our reformat and cleanup tools ensure every outgoing message matches your brand’s specific style guide and compliance standards.
Improve Agent Communications at Scale with AI
The true cost of manual agent communication is too high to ignore. It is time to transition from manual data entry to AI-assisted oversight. By providing your team with workflows in AI Studio, you can supercharge productivity without the financial or regulatory risk of autonomous bots. Eliminate the friction that slows down onboarding and servicing while maintaining total visibility and control.
Want to book a personalized demo? Contact us today.
