The recent pandemic has accelerated digital adoption among customers, forcing banks and financial institutions to opt for digital transformation to digitize their operations quickly and efficiently. The situation has led banks and other financial institutions to digitize most of their banking operations to cater to their customers’ changing needs.
The pandemic has also shaped customer expectations and satisfaction levels. That is why it is imperative for banks and other financial institutions to go for an experience transformation to meet the evolving customer expectations and deliver a superior CX along with digitization. According to a recent report, 75% of financial organizations name digital banking transformation as their top priority for 2021, followed by customer experience improvements (51%).
Source: The Financial Brand
However, to ensure better CX in this digital age, financial companies and banks trust the reputed providers of financial and banking BPO services. These banking BPOs can help banks deliver superior customer service and shape their experience. There are several ways financial services or banking call centers can ensure better CX in this digital age.
Deliver a Seamless Multichannel Experience
Having a multichannel customer engagement strategy has become essential in this digital age. However, to support their customers in this transitional time, banks and other financial institutions must go beyond the traditional multichannel communication and focus on seamless integration between multichannel touchpoints. An omnichannel provider of banking BPO services can deliver an omnichannel customer experience across all touchpoints, ensuring better customer satisfaction and an increased customer satisfaction rate.
Boost Mobile Selling
As your customers move from physical banking to digital channels, it results in your bank losing several face-to-face sales opportunities that took place at the managers’ office or the teller’s windows. Replicating this experience through online channels is a tough challenge for most banks and credit unions. In most cases, digital channels lack the level of personalization required to make the sale possible. This is where a call center for outsourcing financial services comes to play. With their multichannel and multilingual capability, a call center can deliver a personalized product sell message to your customers via multiple communication channels resulting in better conversion. However, before doing so, you must develop a contextual strategy for sales using advanced analytics to identify the customer needs and leverage the data to personalize a product sales message. As more customers today use mobile banking than visiting bank branches, the sales opportunity is higher in the digital channels.
Use Insights to Meet Unmet Customer Needs
Utilizing the customer insight provided by your BPO partner, as well as advanced data analytics and recommendation and application engines, it is possible to deliver personalized financial advice to your customers in an easy-to-use manner. With new regulations and strategies around open banking APIs, the move toward advanced selling will soon take center stage.
Deliver Next-Gen Customer Service
Banks and other financial institutions will need to move beyond traditional customer service and focus on delivering next-generation customer support through digital transformation to serve the digital consumer. Here, a call center with a digital transformation solution can help you deliver better customer support online by integrating FAQs and chatbots with advanced intelligence (AI) and machine learning. The utilization of IoT technology in the banking industry in transactional capabilities and customer service is also a rising trend in retail banking.
‘Future-Proof’ Your Company
Since 2008, the banking industry has started shifting its focus from cost reduction to customers. However, not having a customer-centric strategy can cost financial institutions dearly in this digital age. Therefore, they need to focus on delivering the best possible customer experience in digital and traditional banking. A financial services call center can play a significant role in that.
When done right, ensuring the suitable customer experience delivery can result in cost reduction and increased revenues. By outsourcing financial services customer support, it is possible to bring the experience gap and ensure better retention, improved sales, and better loyalty – future-proofing your bank.
This is a transitional time for all businesses, and banks are no exception. To ensure business success in this transitional time, banks need to focus on meeting the needs of their customers across all platforms and take proactive steps towards meeting their future needs through effective communication across all platforms using banking BPO services.