3 financial experts share elevator pitches

Sometimes all you have is five minutes to make a pitch. That's precisely the situation panelists Chuck Hayes, national business development manager, Array, Aayush Mediratta, VP of solutions engineering at Kore.ai and Matt Soroko, senior account executive at Moxtra found themselves in during the Discovery Hour panel at the Bank Customer Experience Summit, held in Chicago from Sept. 13 to 15.

The panelists had five minutes to share a pitch for their financial services product or solution, and five minutes for audience Q&A, starting with Hayes.

Hayes

Hayes' presented Array's financial wellness protection tool, which provides three primary services: credit scores, identity protection and integrated offers so that banks can offer their products to customers within their own ecosystems.

The credit service works with three bureaus to provide credit scores and details on that credit score to customers, while identity protection does web monitoring, tokenized security and up to $1 million in restoration insurance.

To showcase the importance of this service, Hayes spoke about his experience in trying to find out what his credit score was and why his credit score was that number. Annual credit report was unable to provide the number and he wasn't able to find it on his banking app. He had to go to Credit Karma, which gave ads to other banks. Thus, Credit Karma was taking business from banks and then selling it back to them.

With this service, banks can keep those customers on their platforms.

Mediratta

Mediratta's service was a virtual assistant called BankAssist that can automate more than 100 common banking questions with a voice interface. Banks can deploy all of the use cases or simply a few at a time.

Banks can deploy the service in seven weeks with no IT support. It can also deliver 90% accuracy from day one.

Mediratta showed a demo of the service, which showed a man trying to transfer money between his accounts. The assistant was able to identify him by name and handle multiple requests, including when he changed his mind of how much money he wanted to transfer.

Soroko

Soroko showcased a bank collaboration tool called the OneStop Client App. This app helps bring together all of a bank's communication tools such as voice, messaging, document sharing and collaboration, e-signature and more into one platform.

With this tool, banks can eliminate the cumbersome nature of using up to five or more tools with which to talk to clients. It also eliminates the usage of text and rogue unapproved apps.

The app offers a branded portal for banks to use to communicate directly with clients and all interactions are tracked through an e-paper trail.