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Wynand Smit, INOVO CEO

According to the recent Customer Experience in Banking Survey, getting the customer experience right is vital to South African banks as 67% of respondents would lodge a formal complaint with their bank about bad customer service.

By the same token, only 28 percent of South Africans would change banks because of bad service, the lowest out of all countries polled. 68 percent of South African customers cited getting the same level of experience and service across all channels as a priority.

Following that, customers want their problem to be resolved on the first point of contact, with speaking directly with a customer service agent seen as least important. The challenge to financial institutions is getting it right, because if you do, your customers will stick around – better yet, they’ll tell their friends about great customer experience.

Getting customer experience right

Your customers don’t want to be kept waiting, nor do they want their calls transferred to different agents without problems being resolved – worse, still, they don’t want to have to go into the branch to resolve an issue if they’ve queried something via phone or online. Channel integration can enhance processes leading to improved customer experience.

Financial institutions, like any other businesses, have customers whose preferences have shifted to digital channels. While voice is still the default option for contacts, customers also want to be able to use email, chat or even social media. The challenge is bringing all of those channels into a place where information is accessible to all who need to use it.

Read the full article on Business Report (IOL) >

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