Humans cannot always act according to what they are trained to do. This might be because we like doing things we are coached, rewarded for, or held accountable for. It might also be because training sounds mechanical and bound. Therefore, our brains like to do things we are coached to do. There is a difference between training and coaching. But before understanding that, let me first explain why I am discussing this. Throughout this write-up, we will talk about making credit union agents future-ready. For that, we need to understand whether we have to train our agents or coach them.
Difference between training and coaching agents –
Training means focusing on specific teaching skills, processes, and knowledge to achieve time-bound goals. However, coaching is a more personalized and ongoing process that aims to improve performance, enhance personal growth, and boost problem-solving skills.
Both training and coaching are essential for skill development and personal and professional growth. We need to balance these elements to make our credit union agents future-ready.
Now, let’s understand what the future of a credit union contact center might look like.
Credit Union in Upcoming Years!
Artificial Intelligence (AI) and automation will shape the future of credit union contact centers. It will help agents make data-driven decisions and improve their productivity. The AI-powered chatbots and virtual assistants will handle the day-to-day queries and processes, allowing agents to focus on more complex financial issues. AI and agents will handle the credit union tasks to manage accounts more effectively.
Advanced AI in the credit union will offer the following –
- Deeper customer insights.
- Hyper-personalized financial products.
- Proactive member engagement.
Machine learning (ML) will improve the work by –
- Enhancing fraud detection.
- Identifying suspicious activities in real time.
- Safeguarding members’ assets.
Furthermore, predictive analytics will bring an impact too by –
- Transforming credit risk assessment.
- Allowing credit unions to offer personalized solutions.
- Analyzing real-time financial behavior instead of focusing on traditional credit scores.
Implementing AI will improve the credit union member experience, streamline back-office operations, improve compliance with financial regulations, and reduce operational costs.
| Also Read | How to Deliver a Great Member Experience in a Credit Union? |
Make Your Credit Union Agents Future-Ready!
Now that we know AI will hugely impact the future of credit unions, it is crucial for agents to buckle up and be ready for the future. Credit unions can create a future-ready workforce by focusing on the following pointers.
Role of AI in Credit Union Contact Center
Before incorporating AI in the credit union contact center, it is essential to help your agents understand its role. This will help them understand that AI will not take up their jobs but will instead make their work efficient, effective, and easy. Agents need to know how to balance AI and human intervention in the workflow to get the maximum benefits of AI. The following pointers should be considered in the training process.
- Handling AI-powered chatbots and self-service tools.
- Understanding automated workflows for improved efficiency.
- Using sentiment analysis for enhancing customer interactions.
- Using predictive analysis for personalized support.
| 💡Get the Checklist | Checklist to build a Modern Digital Credit Union |
Upskill Agents to Work Along With AI
AI cannot replace some human capabilities, and humans are required to train AI for better outcomes. Blended learning approaches, hands-on AI workshops, and e-learning modules should be used to ensure a smooth transition from manual operations to AI-integrated operations. The employee upskilling program should provide the following.
- Create AI literacy and understand its functionalities.
- Improve emotional intelligence for complicated customer issues.
- Enhance technical skills to regulate AI-driven solutions.
- Learn AI-assisted decision-making tools.
Promote Continuous Learning Culture
Artificial intelligence evolves rapidly as technology is innovative in nature, and a lot of research is going on in this field. Therefore, it is essential to have ongoing education to stay updated with new trends. Credit unions can encourage continuous learning by considering the following pointers.
- Offering frequent AI training on updates.
- Encouraging AI and analytics certification
- Conducting knowledge-sharing sessions for staff.
Focus More on Data-driven Decision Making
AI offers real-time insights, but humans need to know how to use them effectively to achieve the best outcome. Therefore, credit unions should train their employees to analyze, categorize, and use AI-generated data properly by following these pointers.
- Analyzing member data for better personalized services.
- Utilizing predictive analytics for improved and proactive support.
- Interpreting AI-generated reports for better decision-making.
Wrap Up
Making credit union staff tech-savvy and AI-friendly ensures that the organization stays ahead in this competitive world and delivers better member experiences. Encouraging AI literacy among employees, allowing them to make data-driven decisions, and offering continuous learning opportunities will make the credit union future-ready.
Considering the pointers discussed in the write-up will improve the growth of both employees and the organization. However, in addition to considering the mentioned points, credit unions must avail of credit union contact center integration services from a renowned contact center solution provider like NovelVox, which offers services that perfectly blend AI, automation, and human intelligence.
