Effective Solutions for Better Banking Customer Experience by twentyfourseven


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									            Effective Solutions for Better Banking Customer Experience

Today as enterprises strive towards business expansions and technological
upgrading, they are also struggling to meet the ever-changing customer demands
and address their needs through effective customer service and sales interactions.
Continuous identification and analyzing of the consumer behavior will lead the
enterprises to understanding customers and the specific problems faced by them.

The banking sector is one such field wherein the customer acquiring and retention
form the critical business objective and is totally dependent on the efficiency of
customer service and successive cross-selling of products. The banking customer
experience can be par excellence provided the retail banking sector becomes more
customer-centric than product-centric. The possibility this lies in the fact that
banking institutions need to meet the operational challenges that has stemmed
from the growth of products and channels. This widespread growth has also led to
disconnected communication and a fragmented view of customers leading further
to inconsistent business processes.

To survive through this ever-growing issues, the retail banking sector must take
serious steps in understanding their customer by using customer experience
solutions. Further, in case of global banking enterprises with a wide base of
customers, these challenges can be addressed with the help of processes such as
predictive chat sessions. Such enterprise wide systems will help the banks in

       ·     predicting customer interactions
       ·     Provide efficient and effective customer service
       ·     Leverage cross-selling opportunities
  However, real-time cross selling demands the banks to make changes in their
  customer information management and multichannel integration systems. Real-
  time access to customer information will include details of basic transaction history,
   profitability, product portfolio, and demographics.

  To achieve such in-depth information enterprises need to develop a close
  connection with their customers. Global banking enterprises makes use of intuitive
  customer experience to provide their clientele anywhere anytime access through
  any channel. The three phase methodology followed by the enterprises include
  Personalize by anticipation, predicting customer interaction through preferred
  channels and simplifying the complex situations by integrating experiences across
  various input modes.

  Technological innovations over the years have helped enterprises to make use of
  websites, blogs, predictive sales chat sessions, self-service kiosk, mobile apps, and
  other multichannel strategies to create a positive customer experience. However,
  the predictive customer experiences with a higher consumer adoption differ from
  the traditional proactive chat sessions by providing nearly 15%-30% better
  performance. A system of continuous evaluation and analyzing of customer
  behavior through predictive methods will help enterprise in predicting customer
  interactions and bring out effective solutions to resolve banking customer

Related Links: customer experience solutions, predictive sales chat

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