Customer Service Transformation has become a must in a Digital World
5 May 2020
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As the digital arm of banking takes control and navigates
the world population through these troubled times, consumers have high
expectations when it comes to their bank’s customer support and accessibility
of their finances. Bank customers have all sorts of needs and some are more complicated
than others, but either way they come to expect one thing; easy and instant
solutions.
With mobile wallets, banking apps, digital payments &
transactions and always-on customer support channels, banks are adapting a new
direction to satisfy their customers, and have come to realize that real
customer satisfaction and loyalty is attained through quick, efficient and
personalized customer support, especially during the COVID-19 outbreak.
So how can banks leverage their customer service efforts
in a digital-first world today?
Before deciding how to adapt current customer support
strategy to digital channels, banks need to pinpoint their most frequent
requests by customers and then determine the best implementation of a digital
solution for these requests. One advantage of having routine questions being
asked and processes being requested is that this pattern can easily be catered
to through automation and self-servicing software.
Even before the Coronavirus outbreak, Artificial
Intelligence (AI) and Machine Learning (ML) concepts were being applied in a
variety of ways to customer service, namely through chatbots on websites or
mobile apps that provide answers to common questions or as complex algorithms
for transaction processing, fraud detection and similar aspects of the backend
of finance.
No matter how advanced, secure or reliable automation
processes are, they are still missing a crucial part of customer service: the
human element. Taking care of customers is not just servicing them in an
efficient manner, it’s also connecting with them on a human level to deliver
the utmost personalized care and attention. Interpersonal relationships are
important, especially for customers who have been loyal to the bank and trust
it with their finances.
So it seems that although next-generation technologies are
keenly eyed by the finance community as the next big thing, the human element
is still an indispensable aspect of customer service. As such, it is the
combination of human empathy and robotic algorithms in customer service that
will differentiate banks from their competitors. To that length, it is critical
that the process itself is seamless in terms of switching from AI to a human
agent and that the customer does not wait between the switch, at a time when connecting
workflows seamlessly across a bank’s digital presence is not a luxury but a
need for speed and accuracy.
The final step for the digital transformation of customer
service is to provide contact agents with the necessary tools to understand and
relate to the bank’s customers. This is usually through a CRM platform that
holds a database of clients’ history, financial holdings, activities, and
relationships, offering comprehensive, detailed information on customers in one
place. This allows agents to have a full understanding of the person they are
trying to help and therefore serve them quickly and efficiently.
Once this flow of integrated systems is in place and the
customer experience is well thought-out, customer service efforts in banks are
empowered to go from being reactive to consumer issues to being a proactive entity
that delivers customer satisfaction at a time when it is most needed.
Tags
Coronavirus, COVID-19, customer service, customer
experience, CRM, digital services, customer support, AI, ML, Artificial
Intelligence, Machine Learning, digital transformation, chatbots, fraud
detection.
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