# Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement 
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-03-24
Category: FINANCE
Category URL: https://financedigest.com/category/finance
Meta Title: Boost Sales with AI-Based Sales Enablement Strategies
Meta Description: Discover how AI can enhance sales performance by providing real-time data insights and improving customer interactions in this comprehensive guide.
URL: https://financedigest.com/ethical-financial-selling-the-role-of-compliance-technology-and-sales-enablementhtml

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_By_ **_Nigel Cannings_** _, founder of_ [_Intelligent Voice_](https://intelligentvoice.com/)

Sales enablement software has become a “must have” for many businesses. At its core, sales enablement is the process of equipping sales teams with the knowledge and data required for successful sales. Real-time data builds an understanding of how customers interact with the sales teams, and what exactly is generating negative, or positive experiences. Utilising data analysis to its fullest extent [boosts sales](https://www.financedigest.com/mercedes-posts-rise-in-q1-sales-boosted-by-evs-premium-cars.html "Mercedes posts rise in Q1 sales boosted by EVs, premium cars") and improves customer interactions, typically over the phone or via video. [Technological advances](https://www.financedigest.com/how-an-advanced-manufacturing-technology-can-make-your-business-more-3-dimensional.html "How an advanced manufacturing technology can make your business more 3-dimensional") mean that this is now best provided as a commodity by AI.

**What systems can be applied to** [sales enablement?](https://www.financedigest.com/why-sales-enablement-is-the-trend-to-watch-out-for-in-2023.html "Why sales enablement is THE trend to watch out for in 2023")

A sales enablement strategy must provide the correct information and guidance for sales reps to prioritise more vital sales strategies that have proven successful. This process requires a multifaceted approach. Employee training, guidance, and materials need to reflect the wider sales strategy of the company. When there are specific goals that the company needs to achieve in terms of [sales and customer](https://www.financedigest.com/lumen-research-expand-us-operations-with-key-sales-and-customer-success-hires.html "Lumen Research expand US operations with key sales and customer success hires") interaction, the sales staff must receive tailored advice – backed by accurate data – to inform their decision making when performing their role.

AI systems are increasingly vital in [developing and implementing sales enablement strategies](https://www.financedigest.com/uk-developers-embrace-new-brexit-era-sales-marketing-strategy-by-attending-investorist-live-event-in-tech-hub-shenzhen.html "UK developers embrace new Brexit era sales & marketing strategy by attending Investorist Live event in tech-hub Shenzhen"). Integrating AI provides sales reps with real-time data, providing insight into exactly what is the most effective language, conversational style, and information in [driving sales](https://www.financedigest.com/apples-weak-iphone-sales-drive-first-profit-miss-since-2016.html "Apple’s weak iPhone sales drive first profit miss since 2016").

For example, AI can assist in compiling customer profiles without time-consuming manual analysis. Traits such as demographics, location, peak activity times, and sentiment can be inputted into AI systems to provide far more accurate customer profiles. Newer [technology is beginning to experiment](https://www.financedigest.com/how-is-modern-technology-shaping-our-in-store-experience.html "How Is Modern Technology Shaping Our In Store Experience?") with AI systems detecting features such as ethnicity or demographics without human input. However, this technology is still in a more developmental stage. Nevertheless, even in its current form, AI can [process and categorise data with greater speed and accuracy than manual labour](https://www.financedigest.com/can-digital-labour-displace-cfos-in-the-close-process.html "CAN ‘DIGITAL LABOUR’ DISPLACE CFOS IN THE CLOSE PROCESS?"), ensuring that all customer profiling information remains up to date.

One of the most important functions of AI in sales enablement is the ability to detect semantics. Through using voice recognition and AI technology during [sales calls, it is possible to collect and analyse data to identify which words, language features, and tones of voice lead to successful sales and positive](https://www.financedigest.com/uk-retailers-turn-positive-on-sales-hopes-after-bleak-winter.html "UK retailers turn positive on sales hopes after bleak winter") customer interactions. With AI running this process in the background of calls, [sales reps will not be distracted by the need to recognise this data](https://www.financedigest.com/russian-retail-sales-fall-deeper-jobless-rate-rises-in-sept-data.html "Russian retail sales fall deeper, jobless rate rises in Sept – data") themselves. They can remain focused on the customer. Once this data is collected, sales reps can tailor their services to customer needs, [understanding which approaches and products](https://www.financedigest.com/understanding-management-theories-and-maximising-productivity.html "Understanding management theories and maximising productivity") are suited to individual callers.

**How is ethical sales enablement essential in financial industries?**

Sales enablement strategy is seen as vital in many industries to ensure sales teams are working as efficiently as possible. However, it is also crucial that businesses – particularly in the highly scrutinised [financial sector](https://www.financedigest.com/tomorrows-world-how-cloud-computing-will-impact-the-financial-services-sector-in-2016.html "TOMORROW’S WORLD: HOW CLOUD COMPUTING WILL IMPACT THE FINANCIAL SERVICES SECTOR IN 2016") – carry out AI-based sales enablement in a strictly ethical and legal manner. For example, when selling to a [vulnerable customer](https://www.financedigest.com/the-fca-is-taking-immediate-action-on-customer-vulnerability-but-how-does-this-impact-advisers.html "The FCA is taking immediate action on customer vulnerability; but how does this impact advisers?") (such as an elderly person or adult in distress), sales teams should not pressure someone into purchasing something that they do not understand or cannot afford, regardless of company profit. AI systems must also be able to identify vulnerable customers to make sure they are not taken advantage of. Instead, these customers must receive the necessary support.

Semantics are not only valuable for informing sales. Using AI to detect semantics, language, and speech features can also help detect vulnerability in customers. Just as voice recognition and AI software can detect fraudulent intent, they can also be implemented to pick up features such as hesitation, reluctance, vagueness, and utterances. This usually involves processes such as ASR (Automatic Speech Recognition), and NLP (Natural Language Processing).

This is particularly important within the context of increased regulation in the [finance industry](https://www.financedigest.com/theres-nothing-artificial-about-the-role-of-ai-and-data-in-the-finance-industry.html "There’s nothing artificial about the role of AI and data in the finance industry "). The FCA (Financial Conduct Authority) released new guidelines in 2021 raising the standards of consumer protection. Within this updated guidance is the requirement to always place good customer outcomes at the centre of a business, assessing and addressing the diverse [needs of each customer at every](https://www.financedigest.com/10-secrets-every-entrepreneur-needs-to-thrive-in-2023.html "10 Secrets Every Entrepreneur Needs to Thrive in 2023") stage. This guidance also includes the instruction to ensure that all customers are equipped with the correct information, provided in a [way that they can fully comprehend and understand](https://www.financedigest.com/10-ways-to-make-your-financial-model-easier-to-understand.html "10 Ways to Make Your Financial Model Easier to Understand").

An untrammelled AI-powered system has the capacity to wreak great harm if its sole objective is to maximise profit and sell at any cost

**How does this assist in finding better ways to sell to specific customers?**

Combining the utilisation of AI for sales enablement and customer protection allows [businesses](https://www.financedigest.com/the-ultimate-excel-sales-tracking-templates-for-businesses.html "The Ultimate Excel Sales Tracking Templates For Businesses") to tailor their sales content to specific customers. Those identified as vulnerable will require a unique approach when contacted by sales reps. On the other hand, regular customers can be provided with a personalised [experience](https://www.financedigest.com/curating-a-fully-contactless-customer-experience-for-payments.html "Curating A Fully Contactless Customer Experience for Payments ") through more accurate customer profiling business-wide.

Personalisation is particularly important in the finance industry, where many sales take place [digitally or over the phone](https://www.financedigest.com/snap-happy-79-of-brits-ditch-digital-cameras-in-favour-of-phone-photos.html "Snap Happy: 79% of Brits ditch digital cameras in favour of phone photos"). This can make customers feel less connected, with no [face to associate with the business](https://www.financedigest.com/overcoming-challenges-faced-by-women-in-business.html "Overcoming challenges faced by women in business"). By providing a more individual, unique [experience that meets customer](https://www.financedigest.com/how-partnerships-fuel-fintech-innovation-and-help-banks-deliver-a-better-customer-experience.html "How Partnerships Fuel Fintech Innovation and Help Banks Deliver a Better Customer Experience") needs, businesses can retain a more positive, connected experience for the customer in question.

AI – alongside informing personalisation – can also measure its effectiveness, making it simpler to identify when a change in strategy is required. Carefully monitor the [data provided on the success](https://www.financedigest.com/big-data-suggests-leicesters-football-success-could-usher-in-economic-boom.html "Big data suggests Leicester’s football success could usher in economic boom") of personalised sales experiences and learn from the resulting analysis.

While implementing this personalised customer experience, remember that there are boundaries to how directly [customers want their details brought into sales](https://www.financedigest.com/yum-beats-sales-estimates-as-customers-flock-to-kfc-taco-bell-deals.html "Yum beats sales estimates as customers flock to KFC, Taco Bell deals") conversations. The data provided through sales enablement should be guidance for sales reps, but not instruct them on exactly how to force a discussion, and certainly not to reveal excessively how much the business knows about that individual. This can easily have the reverse effect, resulting in negative customer interaction. Sales reps should receive training on interpreting AI-provided [data to work with the customer](https://www.financedigest.com/manchester-arts-centre-the-lowry-selects-logpoints-siem-technology-to-safeguard-customer-data.html "Manchester arts centre The Lowry selects LogPoint’s SIEM technology to safeguard customer data"), not alienating them.

Compliance and sales enablement are issues that have become closely intertwined. The presence of new AI technology allows for much greater degrees of personalisation during [experiences that have become more remote to the customer](https://www.financedigest.com/the-new-client-adviser-experience-in-the-age-of-the-customer.html "The New Client-Adviser Experience in the Age of the Customer"). This can be a significant [asset for businesses](https://www.financedigest.com/making-your-accountant-an-invaluable-asset-to-your-business.html "MAKING YOUR ACCOUNTANT AN INVALUABLE ASSET TO YOUR BUSINESS"), providing them with more effective sales techniques. However, this is accompanied by increased responsibility for [customer protection](https://www.financedigest.com/id-fraud-is-on-the-rise-can-financial-services-do-more-to-protect-their-customers.html "ID fraud is on the rise: can financial services do more to protect their customers?") – as outlined by the FCA. The same AI [technology can successfully](https://www.financedigest.com/how-financial-services-companies-can-successfully-utilise-low-code-and-no-code-technologies.html "How financial services companies can successfully utilise low-code and no-code technologies") identify vulnerable customers. This allows finance companies to take the necessary care in ensuring these customers are well informed and not unethically swayed into purchasing products or [services that could damage their financial](https://www.financedigest.com/4-ways-high-performance-analytics-powers-financial-services.html "4 ways high-performance analytics powers financial services") wellbeing.


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