How MIGOTO AI™ Helps Banking Employees Master Sales and Customer Handling Skills

AI has started making a huge impact in the banking industry, from improving customer interactions to streamlining fragmented systems to improving sales and customer handling. The BFSI sector is implementing AI training simulators to scale and support banking operations and sales. In this blog, we will take you through how Novac Technology Solutions’ AI training simulator, MIGOTO AI™, can help banks master sales and soft skills training for front-line banking staff.

Why Traditional Training Doesn’t Help in Banking

When it comes to traditional training for the banking sector, it is not very effective due to various reasons. Let's look at some of the challenges that banks face while training employees:

Inconsistent Training

Employees from different backgrounds and experience levels require training at different levels. Even training heads may not understand the individual needs of the learners. Learning requirements can also vary based on the branch, region, and role. Meeting the demands of different employees from across roles and branches through traditional training can turn out to be inconsistent.

Poor Product Knowledge

It is known that banking involves complex financial products, but having a thorough understanding of the product is crucial to selling it to customers. What can help learners grasp product knowledge quickly is when complex products are taught with a deep knowledge, along with simple communication. Many times, this lack of knowledge and not knowing how to convey the details in a simplified manner can hamper product understanding.

Meeting Sales Targets

Sales teams always have the pressure to meet targets. But what is even tougher for sales is to introduce new products in trying to upsell or cross-sell them to customers. Not knowing how to introduce new products can make it seem like it is being force-fitted, causing customers to instantly reject it.

Customer Handling

Banking staff have to be trained to handle customer rejections, any concerns they raise about products, fraud-related concerns, etc., with confidence. Even if it is tough, employees have to manage each situation with sensitivity and care. If customers feel the slightest sense of doubt, it can affect sales.

Limited Time for Training

The banking sector involves fast-paced operations, leaving no room for continuous training. Since it is also predominantly a customer-facing work style, banking staff can hardly find time during working hours for traditional training. Online learning through AI training platforms, on the other hand, can help staff catch up on learning anytime, anywhere.

What is MIGOTO AI™?

MIGOTO AI™ is an AI training simulator that helps teams learn, practice soft skills, and train sales. It can also step in as a sales consultant bot to guide potential clients and help close deals. With real-world simulation, role-based learning, and real-time feedback, learners can gain better product understanding and improve overall performance.

Key Features Of MIGOTO AI™

AI-driven scenario-based training simulates real-world situations to build skills, leadership, ethics, and more.

Role-based learning offers employees personalized training that is role-specific.

Realistic simulations provide immersive training in 3D environments for relatable life-like scenarios.

Real-time analytics and feedback track learner progress using dynamic scoring systems and set parameters.

Compliance tracking and reporting ensure accurate and secure compliance documentation with seamless metric-sharing capabilities.

Benefits of using AI Training Simulator for Employee Training in Banking Sector

MIGOTO AI™’s training simulator is built to tackle unique training challenges faced by employees across industries with the use of realistic simulations, role-based scenarios, and instant feedback. It acts as a virtual banking sales coach. Let’s discuss how MIGOTO AI™ can specifically help banking staff, master sales, train soft skills, and improve customer handling skills.

Simulated Practice Sessions

MIGOTO AI™ allows banking staff to practice scenario-based customer service training for bank employees using AI. Be it guiding customers through saving scheme options or handling common queries, AI-based sales training for bank employees can help practice various scenarios, multiple times. This helps them improve their communication and build confidence over time

Compliance-Related Training

Compliance in banking is a non-negotiable topic. AI training can help employees in the banking sector build confidence around talking about compliance-related topics like KYC, loan detains, regulatory information and more. Continuous practice of complex topics helps employees convey them across to customers with ease, reducing the chances of error. Another factor is that an interactive training for customer-facing banking staff can help grasp monotonous but critical compliance training courses

Perfecting Up-Selling and Cross-Selling

Banking staff are expected to upsell or cross-sell products. While in some cases it is the only solution, in other cases, it is expected of sales teams to do so without sounding too pushy. So how can this be taught to banking employees? In recent times, AI-powered training platforms for banking sector are proving to be an effective way to help employees practice conversations related to pitching new products as a process of upselling and cross-selling. This can also help customers get a better clarity on what they may need

Instant Feedback for Instant Improvement

MIGOTO AI™ provides learners with instant feedback after every module so that they can review their performance and get instant feedback. One need not wait for the whole course to get over in order to identify areas for improvement. They can instantly see where they must improve, and not only that, but also practice needed modules any number of times.

All-rounded Customer Handling

Banking staff face different types of customers, from youngsters to senior citizens. They can be trained to handle different age groups and people with differing demands from different geographies. Banking staff can practice with different personas and communication styles and adjust their conversations or strategies according to the assessment feedback.

Curious about how MIGOTO AI™ is improving banking training with AI training? Explore our blog, “MIGOTO AI™ – An AI Training Platform Redefining Employee Training in Banking.”

MIGOTO AI™’s Dual Functionality

While MIGOTO AI™ acts as a training simulator on one hand, it can also act as a sales consultancy bot that can directly close deals. For instance, customers can directly interact with MIGOTO AI™ to clarify banking-related queries and also buy products directly without the support of an employee.

BFSI leaders or L&D head, on the other hand, can track how many employees improved after coaching, compare performances bank-wise or region-wise, identify disengaged employees, and set KPIs based on behavioural data and role-specific needs.

Conclusion

In an industry where customer trust, product knowledge, and communication define success, traditional training methods often fall short. Novac Technology Solutions’ MIGOTO AI™ bridges this gap by offering a scalable, intelligent training solution tailored for the banking sector. MIGOTO AI™ supports banks in building a stronger strategy around their sales. Employees can improve their soft skills, ease the onboarding process, and improve customer handling.

Explore more about MIGOTO AI™ here and build stronger teams!

Loan Origination Systems - A Complete Guide

ImmersiveTech

A Year in Innovation: AR, VR and MR’s Evolution in 2024 and a Bright Outlook for 2025

FinTech

Understanding the Key Differences Between Loan Origination System vs. Loan Management System