Len Klie

Unisys Foresees a Boom for Biometrics and Bots

Unisys has predicted that advancements in biometrics and artificial intelligence-powered chatbot technology will transform how financial services organizations engage with customers, particularly as these techniologies have altered people’s expectations for banking.

“We see the customer experience as the key differentiation point for banks’ digital banking strategy,” said Eric Crabtree global head of Unisys Financial Services, in a statement. “Today’s customer is relying on his or her mobile device to bank as they go, while major hacks are keeping security concerns top-of-mind. We see a shift in the year ahead where banks move towards a more integrated, omnichannel business model that allows customers to pay bills, apply for mortgages, or purchase goods and services on the go, while utilizing new methods of authentication to ensure people’s data is protected.”

Consequently, Crabtree predicts a rise in biometric authentication and chatbot technology, built on the latest artificial intelligence.

While some banks are already using AI tools such as predictive banking and chatbots to provide basic information or handle smaller tasks, like account balances, Unisys predicts that the maturation of AI technology powered by machine learning and advanced analytics will allow chatbots to deliver a more comprehensive and personalized banking experience. It will also eliminate the need to wait on hold or on a line to speak with a customer service representative, delivering results in real time. Additionally, given the way voice-powered AI has changed the way consumers interact, the firm expect further integration of voice AI with digital assistants to facilitate banking requests.

Unisys also predicts that the advancements in biometric and predictive technology, coupled with the increasing accessibility and improved value proposition offered by partnering with tech companies will enable small and mid-sized banks to transform their offerings and customer service capabilities as well. Ultimately, technology will fuel the innovation that small and midsized banks will use to thrive in the digital age, it said.