How Modern Financial Services are Accelerating CX Success

Today, successful financial services are accelerating their focus on customer experience success, in large part by making interactions totally frictionless. It's not up to brands to decide how, where and why customers want to interact with them – instead, financial services businesses need to understand their members and customers, doing whatever it takes to providing the outstanding experiences they demand.

Frictionless Access and Communications

For many financial services brands, frictionless access and communications with customers and members is accomplished by improving the ease of access to solutions and services using technology. Online banking portals were a major early example of this, in that they allowed consumers to manage their finances right from the comfort of their own homes as opposed to forcing them to get in the car and drive to a local branch.

Today, these have evolved into tools to pay bills and manage investment opportunities all with the help of support and financial advisors just a click away.

Consistent CX with Big Data and Analytics Insights

Many financial services organizations have also leveraged big data analytics and other customer relationship management tools to their advantage, improving employee and operational processes in a way that has totally overhauled the customer experience. By making sure that consumer data can flow freely across an organization, and by doing what it takes to break down the data silos that formerly existed, financial institutions can offer a quality, consistent experience regardless of who is interacting with a customer. By focusing on quality and consistency in the experiences you provide, customers don't have to get frustrated by explaining and re-explaining their situation every time they call in, or by getting bounced around from person to person until they find the right department.

If everyone has access to the same basic pool of customer information, everyone becomes "the right person to talk to” and can answer a question or to address a specific concern - creating a more satisfying experience for consumers as well.

Personalizing Engagements and Interactions

In the last few years, it has become clear that many savvy financial services brands have learned the most important lesson of all about where the industry itself is headed - towards deeply personalized and customized service. By capitalizing on both big data and technology to get more closely in touch with the needs of your customer, you're able to put yourself in a position to meet those needs in a faster, more efficient and more satisfying way. That's not just how you obtain a significant number of new customers - it's how you retain them and keep them satisfied in a way that turns them into a loyal army of brand advocates as well.

To succeed in meeting the expectations of your customers and members, the experiences you provide should be personal, consistent, and customized to meet the evolving needs of your financial customers.

Avtex is Here to Help

Advancing your organization’s CX maturity isn’t always easy. It requires comprehensive knowledge of your members or customers, a strategic plan of action and an effective technology ecosystem. Avtex offers the end-to-end support you need to drive acceleration. Contact us to discuss your specific CX acceleration goals with our experts.