Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
30 November 2021

Why Retail Banks Are Embracing Conversational AI in the Contact Center


Interactive Voice Response (IVR) systems have greeted inbound callers for decades. Are we nearing the end of IVRs as we know them? Based on an October 2021 survey of contact center leaders in US retail banks and credit unions, Celent forecasts a bright future for conversational artificial intelligence-based contact center customer engagement.

Why invest in the lowly IVR amidst the rush to all things digital?

Things are not well in contact centers across the US. Despite the recent growth in digital customer utilization catalyzed by the pandemic, call volumes remain high and wait times long. Legacy approaches no longer work. A growing number of retail banks know this and are investing in conversational AI for a variety of contact center use cases. The most compelling, in Celent’s opinion, may lead to the end of the IVR system as we know it. Good riddance!