Digital Conversation Flow Segmentation for Financial Services
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Solution Overview
Problem
Modern businesses face challenges in providing personalized and efficient digital conversations for users, especially in financial services, as existing solutions are often costly and require significant IT resources to modify or expand.
Innovation Solution
Implementing methods for guiding users through directed conversations using digital advisors, where user input is received and flows are selected based on input, allowing for personalized experiences and seamless integration with user interfaces, including the ability to establish financial goals and update flows without altering the interface.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If existing digital conversation solutions are used, then basic service delivery is achieved, but personalization capability and IT resource efficiency deteriorate due to high costs and significant resources required for modification or expansion
Solution Approach 1:
The digital conversation system is segmented into distinct components: conversation flows (defining dialogue structure), user profiles (storing personalization data), and interaction handlers (managing specific conversation types). This segmentation allows independent modification of each component without affecting the entire system, reducing IT resource requirements while maintaining personalization capability.
Solution Approach 2:
The system dynamically adapts conversations based on user profiles and input. Conversation flows are not static scripts but dynamic pathways that adjust in real-time based on user responses, interests, and contextual information. This dynamic behavior enables personalization without requiring complete system redesigns.
2Adaptability or versatility
If digital conversations are extended to provide more comprehensive financial services, then service versatility improves, but system complexity and modification costs increase
Solution Approach 1:
The conversation flow framework serves multiple financial service functions through a universal structure. The same flow management mechanisms handle investment advice, financial planning, account management, and product recommendations. This multi-functionality allows service expansion without proportional increases in system complexity or modification costs.
Solution Approach 2:
New service capabilities are implemented by copying and adapting existing flow templates rather than creating entirely new systems. For example, investment advice flows can be copied and modified for financial planning scenarios, reducing development costs and complexity while expanding service versatility.
3Measurement precision
If user information is extensively collected for personalization, then personalization quality improves, but data management complexity and storage requirements increase
Solution Approach 1:
User data is organized into localized profiles containing only the specific information relevant to each conversation context. Rather than storing all possible user data centrally, the system maintains localized data structures that contain only necessary personalization attributes for specific service domains, reducing overall storage requirements while maintaining personalization quality.
Data Source
AI summary
Methods, systems, and apparatus, including computer programs encoded on computer storage media, for a digital conversation is described. One of the methods includes guiding a user through a directed conversation having a plurality of flows, each flow including at least one statement to be made by a digital advisor. The method includes receiving user input as part of the directed conversation. The method includes selecting one of the flows based on the received user input. The method also includes storing at least some of the information provided by the user in a data store.