5 Tips to Enhance Your Financial Customer Service

Mamta Rodrigues - 08.03.2022

Over time, the need to provide exceptional financial customer service has only become greater. For financial institutions, offering the right customer support at the right time continues to pose a challenge – it is becoming more evident that customers constantly have changing expectations and demands as a result of new technologies, products, or services that affect their behavior. The massive increase in call volumes resulting from customers requiring support from their financial institutions also became a challenge.

Digital Plus the Human Touch: A Successful Formula for Successful Financial Customer Service

To rectify this, many companies are embracing and utilizing digital technologies to fortify their customer service strategies. In a previous blog, we have discussed how digital capabilities have become pivotal to meet and address the changing expectations and needs of consumers. While this is true, it is also important to know that there is more to elevating the customer experience than just focusing on technology – banking and financial customer service must also rely on the care factor that inspires better connections and simpler, faster, safer interactions.

Nowadays, it’s all about creating extraordinary customer experiences through technology and the human touch. Here are five tips on how financial institutions can enhance the customer experience:

Equip customer service agents with the necessary training to elevate their skills:
Financial customer service agents serve as the pulse of great customer experiences – they drive the conversations, they look for solutions, they solve the issues, and they empathize with customers. Thus, companies must let them grow and learn the necessary skills that will allow them to be the best, creating "Super Agents." Ensure your agents receive the right support for them to develop their technical skills, as well as get the proper training on problem solving, listening, and communicating.

Make all communication channels accessible through seamless integration to promote better connections:
Many financial institutions have slowly jumped into the digital waters, but that doesn’t mean that they should ignore the customers who still prefer to reach out through traditional channels such as voice or face-to-face branch visits. To do this, financial institutions must prioritize an omnichannel customer experience that integrates both traditional and digital channels – by doing so, customers won’t feel left behind and still connect with financial customer service however and whenever they want. Connecting with customers however and wherever they want is only one piece to a great customer experience; customers expect their financial institution to have context and have a 360-degree view of their financial profile and history. Being able to seamlessly transition from channel to channel with context of previous interactions and requests will set apart financial institutions, and drive better customer interactions and customer stickiness.

Ensure airtight security protocols for your customers’ peace of mind:
As a financial institution, security should always be the highest priority, especially while operating in digital and online spaces. Protect your customers against fraud by prioritizing cybersecurity and data integrity throughout the digital transformation agendas. Financial institutions must also protect their customer’s account access through multi-factor authentication and the proper security guardrails, without compromising a smooth consumer experience.

Talk to your customers by encouraging feedback, and by responding properly:
It goes without saying that communication must be a two-way street. Don’t be afraid to ask them for their feedback – whether through surveys after each customer interaction, through email or social media, and ask: what are we doing right? How can we improve our service? What would you like to see more or less of? It’s a small step that can eventually lead to a long-term improvement that can benefit both your company and your customers. Drive accountability and action with your agents and customers to iterate on customer feedback through an agile approach to continuously improve experience and features.

Look for a partner with the right expertise and experience in the industry:
With over 40 years of experience in banking customer service, financial services, and insurance (BFSI) industry, Teleperformance has become the trusted partner of the world’s renowned brands. With our expertise in omnichannel management and digital capabilities, Teleperformance has helped our clients implement exceptional financial customer service through our high-tech, high-touch approach that combines the best technologies and the human touch.

Learn more about our BFSI solutions that can take your banking customer service to the next level. Contact us to know more!


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