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Financial services CX

Image – Sebastian Sikora, Flickr (CC license)

Customer service in the financial sector is especially complex, since interactions may involve multiple channels including voice, email, SMS, chat and via websites, all of which must operate according to strict compliance rules and regulations and within the realms of respecting data privacy. Contact centre agents must be capable and have access to the right information to assist your customers timeously and efficiently. With an overwhelming shift to online platforms, digital transformation in your contact centre isn’t just an option, it’s a must.

Taking the pain out of financial interactions

The Industrial Revolution 4.0 provides an opportunity for companies to operate in ways that allow customers to get from A to Z in a more seamless fashion, reducing pain points and facilitating transactions in general. At the heart of seamless, personalised service, is a wealth of data being gathered, stored and used to govern interactions and inform companies about their customer preferences and needs.

Moving to digital means that you can spend less time capturing data and more time in assisting customers better, especially if you automate rule-based workflows or even repetitive manual processes such as reporting. Better yet, it enables you to meet and engage with your customers where they’re interacting (since customers are increasingly online 24-7), and often in real-time.

The house that Data built

Understanding the cumulative relationship of data and what it tells you about your customers is significantly more important than the data itself. Identifying segments and micro-segments based on key customer characteristics, demographics, products held, as well as transactional data across all channels and products will help consolidate a unique view of your customers. This customer insight can then be used to develop retention strategies, identify new cross- and up-sell opportunities, and build predictive models for future customer behaviour, marketing campaigns, and the introduction of new products.

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