Emerging technologies, changing customer needs, and the need to improve end-to-end internal processes over the past years have triggered a series of changes in customer service. Specifically, in the financial services industry, the lack of investment in technology over the years has led to a significant number of manual and operational tasks having to be fulfilled by agents, which limits the time available to be spent on conducting more profitable high-touch servicing interactions. As such, organizations must develop a strategy to migrate these simple transactions to alternate channels.

Another critical factor is the evolution of the role of the contact center agent. It is quickly expanding from a troubleshooting role to a more complex advisory role. For this transition to succeed, organizations need to make the right investments in technology to support their workforce and eliminate many manual tasks.