Why banks should invest in digital customer service in 2015

Why banks should invest in digital customer service in 2015

OABPO Blog Team Published on December 4, 2014

Why-banks-should-invest-in-digital-customer-service-in-2015--Open-Access-BPO--call-centers-in-the-philippines
When we took a a side-by-side look at the industries that are commonly served by call centers in the Philippines, we saw polarized rankings on businesses under the financial services industry.

Banks and credit card companies were reportedly the poorest performers in the areas of online customer service and overall customer satisfaction, while credit unions are said to be gaining the nods of their members. Money magazine included the banking sector in its list of “three industries that desperately need customer service makeovers.” But a survey by market research company, JD Power, showed the opposite, giving financial brands with the highest customer satisfaction ratings.
The year 2014 has seen the worst of financial firms, and it s not enough that they re acing some areas because it doesn’t discount that fact that they re messing up other aspects. For an industry where many people build and depend their future on, companies in the financial sector needs to show consistency in how they deliver support. Otherwise, people will take their money elsewhere, as proven by the JD Power US Retail Banking Satisfaction study, which revealed poor customer service as the top reason why clients switched banks this year.
What should finance companies invest in next year and how would this move benefit them?

1. Stronger employee knowledge

Why-banks-should-invest-in-digital-customer-service-in-2015

Customer service representatives (CSRs) undergo training to ensure that they provide proper assistance, but knowledge can get stagnant, especially in an ever-evolving business landscape. People no longer limit their definition of excellent customer service to the CSRs ability to provide correct answers; they have to be available round-the-clock and deliver first contact resolution. Invest in your employees customer service knowledge to improve the level of service your company provides.

2. Self-service options

Why-banks-should-invest-in-digital-customer-service-in-2015-

People asked by the EY consumer banking survey said that a bank s website is the most important source of information. But you should not just invest in an FAQ page; your knowledge base should be searchable, secure, and user-friendly. In addition to this, your website should either feature or point to other digital customer service options like live chat, mobile customer service app, and social media accounts.

3. Multi-channeled support

Why-banks-should-invest-in-digital-customer-service-in-2015--

While self-service should be a cornerstone of online service, it should not be the only contacting option you have. Pair this with assisted service options such as email and live chat. Let customers reach out to you through their channel of choice or through the platform that s most convenient to them any time of the day.

To build brand loyalty next year while resurrecting from this year s customer disservice, the financial services sector needs to invest in customer experience that reduces effort. Clients must feel uniquely valued through personalization. Investing in the basics is the first step, and you will now have to branch out from there.

Leave a Reply

JOIN US ON FACEBOOK
Open Access BPO
Open Access BPO24 hours ago
Unexpected interruptions in your #CallCenter operations can cost customers' trust and your brand's reputation. Discover how smart #offshore redundancy can mitigate these threats: https://zcu.io/8Vtz

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO3 days ago
Businesses need to understand what drives customer expectations to satisfy market demands. Consider these factors to build a better #CustomerHappiness strategy: https://zcu.io/NhP9

#WeSpeakYourLanguage #CustomerService
Open Access BPO
Open Access BPO4 days ago
Successful #CustomerService training programs help agents provide support consistent with the client's goals and values. At Open Access BPO, we look out for these mistakes to optimize our #training programs and ensure #EmployeeGrowth: https://zcu.io/zsfK

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO5 days ago
Ensure business growth and program deployment by choosing the right outsourcing company to back up your #CallCenter processes. See how Open Access BPO effectively launches client programs with its flexible #outsourcing implementation approach: https://zcu.io/1EtL

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO1 week ago
Your frontline #CallCenter agents play a vital role in fulfilling your commitments to your clients. Recruit the right people to make sure your #CustomerService strategies are implemented effectively: https://zcu.io/dPNj

#WeSpeakYourLanguage
Open Access BPO
Open Access BPO1 week ago
The past year taught the industry that unforeseen events can have a drastic impact on businesses. But in the same way, we learned that it was possible to conquer them and turn them into opportunities for #growth.

Read more: https://zcu.io/4dWY

#WeSpeakYourLanguage #BusinessContinuity