SmarterCX presents the Smarter Demos series, a 2-minutes-or-less look at some of the most innovative CX technologies and how they work.
In this 15th video in the Smarter Demos series, we take a look at some of the latest CX tech for financial services. Nolan Corcoran, Solution Engineer, Oracle, describes how Oracle created a mobile app solution with active notification that allows both financial institutions and their clients to stay up to date.
Watch our interview or read the transcript below.
Nolan Corcoran: This was a solution that we put together for a credit union or a bank or any really any financial institution. And the problem that they were having is whenever they process the loans with some dealership, they have to use a third party loan processing system.
Often these systems are outdated, and whenever messages are sent back, whenever updates have been made to that loan, often these messages can sit in a backlog for two to three days, and that can really affect business on both ends. And so, what we’ve created is a channel agnostic sideband notification channel.
On the one end the loan processor has this Admin web application that has a list of all the loan notification profiles, and all the contacts that correspond to those profiles.
On the client side we have a mobile app. And so now the Admin can… anytime any change is made on that loan, he creates a profile for it, changes the profile, updates the status. It’ll send that push notification to that app only that’s associated with that contact.
On the mobile side, the app shows a dashboard. It shows all his particular loanees because he could have more than one. He can interact with those lists. He can notify the Admin by just a press of the button. He can look at the different messages that have been sent back and forth between him and the loan processor.
And so it allows them to just keep up to date because it pops up on their phone. There’s no more backlog messages and really expedites that process.
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This transcript may be edited for readability.