|More than ever, our development focus remains our technological expertise serving our clients. Technology never serves a virtual and de-humanized relationship, but on the contrary allows for an “enhanced” relationship between the advisor and his client.
To that end, the choice made by Crédit Mutuel first relies on local banks fully responsible for their operations, where all clients have a dedicated advisor that they may contact by email, chat, videoconference, etc. and that they are also able to meet with in the branch. While Crédit Mutuel is fond of technology, the Group as a whole is centred around human values, with client relationship managers who thus remain the prime contact persons of members and clients.
Insofar as it is concerned, Crédit Mutuel is already responding with a diversified offer: banking insurance, but also real estate (we are the leading telephone-based real estate agency for new properties), telephony, home protection, etc. We are already monitoring, with great attention, the new services and are already partners of numerous FinTech companies (aggregator, crowdfunding, electronic kitty funds, etc.). However, by proposing directly for more than ten years multiple high-tech services, the Crédit Mutuel Group appears to be a pioneer. We have anticipated the paradigm change that was under way in the banking community, well before the emergence of the new forms of competition and the development of the fully digitised bank.
For instance, CM Arkéa developed Max, an open aggregator, and integrated several FinTech operators. Since it decided to use the Watson AItechnology, in cooperation with IBM in 2015 (see below), CM Alliance Fédérale developed a consulting support environment and created jobs and a Cognitive Factory in Strasbourg which is developing new tools for serving clients. By using technology, all of our agencies and points of sale are interconnected via high-throughput links to our support platforms. Thus, our advisors can fully take care of our clients.
Our enterprises have developed an internal IT design function, created new tools and offered new solutions serving clients and members (internal social network). Starting from Watson’s Natural Language Processing technology (IBM), Alliance Fédérale has developed an email analyser serving a threefold purpose, automatically identifying the request made in the email, identifying the urgency for the response, and preparing contents for the response.
This AI tool identifies the intention of each text and its degree of urgency, and proposes responses to our advisors. This tool even responds to questions asked by our advisors themselves. This is a genuine virtual assistant: each of our advisors may ask a question, obtain an extremely fast response. They can therefore be more effective and more reactive, as our clients are expecting great responsiveness. Assisted intelligence is already a reality for more than 20,000 persons working within Crédit Mutuel.
Finally, artificial intelligence has not destroyed one single job or eliminated one single agency within Crédit Mutuel, but on the contrary, has supported, facilitated, and accelerated the response given to clients and has increased client loyalty.
Technology must remain a tool and may not replace human beings. In a case such as the Watson tool, AIis precious, as it supports the rational intelligence of our advisors. Crédit Mutuel intends to gradually generalise cognitive technologies in 100% of our business lines (conformance, insurance, payments, etc.).
With other partners (Auchan, BNP, Carrefour, Casino, Total, etc.), Crédit Mutuel has also developed solutions such as Lyf Pay proposing innovative, multi-service and secure mobile payment applications serving the client relationship. Developed with merchants and designed for consumers, the Lyf Pay application covers an extremely broad scope, including payment cards, loyalty cards (in-store payments, web-based purchases, payments between individuals or even gifts to associations, etc.). It is thus possible to rival US or Chinese mobile payment solutions (Alipay, WeChat Pay).
By proposing the best of digital banking in its banking applications and services on all of its markets and business lines, the Group brings responses suited to its clients’ new behaviours and uses, in a highly secure framework. Mutualism means bringing about the success of clients and members.