Pinch me… Dreamforce 2022 is back!
Is it just me, or does this year’s Dreamforce feel like a much-anticipated reunion? Part tech conference, part homecoming is how Salesforce describes one of the most anticipated technology conferences this year. And after three years of online interactions, it’s no surprise that Dreamforce 2022 is generating tremendous excitement amongst the technology crowds. But enough about everyone else! Here are my Top 5 reasons I’m looking forward to Dreamforce 2022: Everyone who’s anyone will be there. Like on a summer beach after the exams, the crowds are expected to be everywhere. Three days of networking opportunities with over 30000 people – meeting new leaders and connecting with old friends. That’s a lot of handshaking, so don’t forget the sanitizer. In-depth sessions, larger-than-life speakers. Do you know those cinematic flash-forward sequences where the team describes how they will break into a super secure location? Everything time-coordinated and moving to peppy music.? That’s how I imagine my approach will be to attending keynote sessions this year. I know we must pick our favorites, but frankly, between celebrities, activists, and athletes, it’s hard to decide. We are talking about over 1000 potentially thought-breaking sessions. Planning, my friend. It takes planning (and the agenda builder on the Dreamforce webpage is just what you need). Boring Demos? No, it’s a Demo Battle An epic game show theme where Salesforce partners get a mere three minutes to showcase their tech. It’s going to be fast and exciting. And the best part? The audience gets to vote. I don’t know about you, but I’ll carry a poster saying I WANT TAVANT! Dreamfest Fundraiser Every year, Dreamforce organizes a fundraising event which is also a chance for Dreamforce attendees to chill. This year’s concert will benefit the UCSF Benioff Children’s Hospitals. Dreamfest will take place on Wednesday, the 21st of September, at Oracle Park in San Francisco. And this year, we will be rocking to… The Red Hot Chilli Peppers!!! That’s right; the Red Hot Chili Peppers are performing at Dreamfest! And by the way, all proceeds will benefit the UCSF Benioff Children’s Hospital. See what I did there? Dreamforce will take place in San Francisco at the Moscone Center from September 20–22, 2022, and is slated as the largest Salesforce conference of the year. Appropriately, this year’s theme is ‘Go big and come home.’ I can’t wait! ABOUT THE AUTHOR: I am Simran Tayal, Director Marketing at Tavant and I’ll be at Dreamforce with my team at Hotel Zetta, 55 5th St, San Francisco. For more information, click here.
5 Questions that can help Maximize Your Customer Experience
In 2020, when the pandemic hit the world, it started a wave of rapid digital changes that spread across the globe. In 2021, these changes were put into place. It took a lot of money for businesses around the world to change so that they could work from home, be more socially isolated, and do business in a way that may never be the same again. In 2022, it’s clear that those changes will stay. The technology that is easy for people to use is getting a lot of attention again. Trends are likely to become the norm in the future. AI in Fintech market size is expected to reach $17 billion by 2027, and it’s no surprise that AI and ML (machine learning), and Intelligent automation will be at the heart of this. The only question is, how do fintech companies use these tools to make digital transformation happen and make it work for them? Fannie Mae’s quarterly Mortgage Lender Sentiment Survey® conducted a research among senior mortgage executives in August 2021 to better understand lenders’ views on AI/ML technology and to see how interested they were in different AI/ML applications. The study revealed the following key findings: Most lenders (63%) say they know about AI/ML technology, but only about a quarter (27%) have used or tried AI tools for their mortgage business. Lenders expect to use some AI tools in two years. Lenders who already use AI/ML technology say they mostly use it to make their operations more efficient or improve the customer/borrower experience. People use it to apply for a loan, get a loan, and get it approved. The biggest problems for lenders who haven’t used AI or ML technology are integration issues, high costs, and not having a proven track record of success. AI/ML applications that help businesses run more efficiently are the most appealing to lenders. Lenders found the concept of “Anomaly Detection Automation” to be the most appealing. “Borrower default risk assessment” came in a close second, though. There are solutions, but they are task-oriented rather than holistic. In terms of customer-facing solutions, 75% of organizations say AI supports or drives one. This high figure is reached by combining distinct procedures. Next to loan applications, AI is used for documentation, marketing, and closing. Overall, 83% have at least one AI-powered back-office solution. The top three most reported sub-processes are loan servicing, title search/registration, and underwriting. Mortgage lenders are saving big by automating their manual, time-consuming cumbersome legacy systems and process; thereby increasing cost efficiency and productivity. How AI, ML, and Intelligent Automation Technologies are Game Changers in the Fintech Industry? Cost Reduction and Scalability to Support Growth Given the changing market, more lenders are turning to digital financing. AI and ML deliver a significant gain compared to utilizing only normal statistical models. This invention is at the forefront of sustaining transparency and performance. In response to changes in data and outliers, AI/ML models require less manual intervention, enhancing overall efficiency. By understanding mortgage application information more precisely and quickly, AI and automation can replace optical character recognition (OCR). AI can also read text from emails, documents, and other sources. An AI-powered support automation technology optimizes loan processing by enhancing customer satisfaction and communication between lenders and borrowers. Save Time and Reduce Errors AI eliminates human errors and uses machine learning to improve accuracy. This is huge for the mortgage business. Errors in human data entry have a high cost. AI can handle mortgage papers fast without getting tired or bored, leading to calculation or judgment errors. Enhance Customer Experience (CX) AI-powered chatbots can quickly answer borrowers’ questions and guide them through the loan application process. Mortgage lenders can use AI to quickly gather information from borrowers (for example, their credit scores or student loans). Mortgage businesses start the mortgage procedure and offer superior goods for those consumers. Based on their income and credit history, a company can predict which customers are at higher risk for defaulting, enabling them to offer different types of better loans for those individuals. Improve Efficiency through Intelligent Automation Machine learning, data analytics, neural networks, and other AI-based technologies can greatly improve financial technology. AI is becoming crucial in lending. It is bringing new efficiency and value to Fintech. For example, AI can write expense reports faster and with minor inaccuracies than a human. Also, AI may power technologies that help human workers track and automate operations, including compliance, data input, fraud, and security, while also learning from and verifying events for anomalies. Deliver Great Customer Service Consistently Customer service is one of the most notable areas where AI has benefited Fintech. Artificial intelligence has advanced to where chatbots, virtual assistants, and other AI interfaces can consistently engage with customers. Answering basic questions can significantly reduce front office and helpline expenditures. Wrapping up: COVID-19, as a whole, is proving to be an effective catalyst, with the ability to inspire industry leaders to reinvent their digital strategy. AI adoption is growing: more businesses are catching up, familiarizing themselves with innovative tools, and starting to explore new capabilities. This is a good time to start assessing the impact of AI, ML, and intelligent automation on their mortgage business. What next? Tavant can help mortgage lenders diversify how they do business and effectively unlock savings with next-gen digital technologies. To gain more insights, reach out to us at [email protected] or visit here. FAQs – Tavant Solutions How does Tavant help lenders maximize customer experience through strategic questioning?Tavant provides customer experience analytics tools that help lenders identify the most impactful questions to ask borrowers. Their platform includes survey integration, feedback analysis, and customer journey mapping that enables lenders to understand customer needs better and optimize their lending processes based on customer insights. What customer experience optimization features does Tavant offer?Tavant offers real-time feedback collection, customer satisfaction scoring, journey analytics, personalization engines, and predictive customer service tools. Their platform helps lenders identify pain points, measure satisfaction at each touchpoint, and implement improvements that enhance the overall borrower