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Financial institutions were among the first to adopt customer service technology. The banking sectors have integrated contact center solutions to build customer loyalty and offer personalized customer experiences. The industry is leveraging new technologies to maximize customer communication and enhance client engagement.
CAN YOU WAIT FOR THE BANK TO OPEN EVERY SINGLE TIME YOU HAVE ISSUES?
In the initial days, you have to visit the branch office to open an account or edit a piece of information. But now, everything is available at your fingertips. All thanks to the evolution of technology and mobile phones. They are growing exponentially and shifting from just transactional interactions.
Now, banks are handling informational calls, sales & purchase-related activities, fundamental day-to-day issues, and more. The contact centers have become a primary point of contact for all types of interactions with customers.
*Do you know that 55% of banking customers want proactive relationships, not transactions?
Since the introduction of ATMs, financial service institutions have been heading in the direction of self-service solutions. Thus, encompassing simple and easy interactions. In the present hyper-connected digital world, contact centers have become the headquarters for financial service institutions.
Let’s explore how contact centers are evolving for the banking sector.
Contact centers play a pivotal role in today’s transforming banking environment. Contact centers are assisting in the four fundamental areas of banks amid the changing customer needs.
*According to a study, 67% of millennials expect a seamless omnichannel experience from their banks.
This is what matters in the digital age. The adoption of digital systems is a trend that will not slow down anytime soon. Financial services contact centers are adopting more multi-channel strategies for their customer service operations. Now, they have evolved from traditional communication channels and introduced more:
Contact centers are part of cloud telephony solutions. It includes distinct communication channels, cloud storage, customer self-service, agent analysis, analytical insights, and more. It enhances customer engagement by integrating one of customers' preferred methods of connection.
*Around 78% of customers want personalized advice from their banks, and just 28% say their financial institutions provide this benefit.
Contact centers (especially voice solutions) are a highly chosen mode of communication. It allows customers to seek personal attention, specific advice, and active engagement. With the increase in call volumes, client expectations rise, and delivery methods diversify. The financial service sector has adopted the modern contact center that is helping to meet digital demands and facilitate authentic engagement.
THE MODERN CONTACT CENTER
Voice Solutions Voice solutions refer to different modes of inbound and outbound communication through voice. Sarv is one of the versatile cloud telephony solution providers, offering services to businesses and industries of all sizes. The voice solutions of Sarv give the exact voice experience your customer wants. Turning calls into leads, solving customer problems, and being their helping hand. The different types of voice solutions are:-
*Around 65% of clients want direct access to local branches. It doesn’t matter if banks shut physical locations. Think of it as a counterintuitive consumer approach because of advanced consumer technologies.
These 65% still say phone calls are one of their preferred point of contact. This may be because some believe email lacks immediacy and text messages are short on detail. Consumers want immediate solutions; they hate waiting in long queues, writing to every new reply, or writing short messages due to limitations.
SMS
SMS is one of the best ways to reach out large audience at once. The communication method enables businesses to target the right audience at the right time. Communicate and interact with customers effortlessly. Financial service providers highly utilize SMS solutions to inform customers about transactions, offers, promotions, and activities.
*48% of consumers want SMS as the communication channel for receiving brand updates.
The good thing about SMS is that it is not a standalone marketing tool. Moreover, email integration enables encompassing sales or marketing teams to generate more leads. Businesses should know Sarv’s offers a bulk SMS solution, eradicating the need for installation and download. The powerful tool enables seamless integration and provides features like:-
Self-Service Communication Channels Contact centers have various unique features that eliminate the burden on an organization and the agents. Take the Interactive Voice Response (IVR) phone system - the first and oldest form of the self-service option available now. Financial services had a higher proportion and practice rate of IVR phone systems solutions. They are using it to provide quick information to customers like account balances, outstanding amounts, confirmations, etc.
Customize messages as per requirements and play to clients to add value. Follow essential steps to avoid complex menu options. Sarv allows businesses to keep automated responses concise. It provides customers multiple routes to receive information or reach live representatives to avoid frustration. *39% of customers would instead use self-service options than have to speak to a company using any other channel.
*39% of customers would instead use self-service options than have to speak to a company using any other channel.
24/7 Availability
We are living in a constantly moving world and connected to everyone globally. WiFi, smartphones, tablets, and other technologies are easily accessible, bringing the world closer than ever. Currently, almost all banks offer around-the-clock services and assistance via self-service channels. Few organizations have 24/7 contact center staff to support the customers whenever needed.
Contact Center Encompasses Endless Support
Financial services centers cannot overlook the importance of contact center availability. Cloud contact center fulfills the need of current trends while keeping up with customer demand. Sarv’s contact center offers customized services for any size institution. From toll-free numbers to 24/7 availability, businesses get various features and tools that only encourage high customer satisfaction. A contact center is a valuable resource in today’s self-service-driven banking landscape.
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