Increasing pressure on financial institutions to deliver enhanced customer experience in an Omni-delivery ecosystem requires increasing drivers of satisfaction and eliminating dissatisfaction factors. Fulfillment friction, cumbersome processes, lack of access to human assistance, and failure to meet service expectations degrade customer confidence and satisfaction, increasing attrition and reputational risk for the institution.
Inefficient paper-based service increases response times and negatively impacts customer experience. With accelerated digital usage and self-service preference, service encounters provide a customer satisfaction fulcrum. According to a recent study by Gladly (“What Customers Expect from a Modern Online Shopping Experience”), 63 percent of customers “fall in love with brands because of great service”, and 62 percent “will recommend a brand to a friend because of great service.”
Executed well, service events provide loyalty and growth building opportunities for the institution. Done poorly, service encounters increase attrition risk. Omni-delivery requires customer service to meet Service Level Agreements (SLAs) through fully integrated digital and human-assisted channels.
With these challenges in mind, there are steps institutions can take to meet customer needs for great service. They include:
- Making the right set of functions available to the consumer in self-service mode, but include bank controls over sensitive functionality;
- Empower the customer by giving them control;
- Make human support available as needed through self-service and staff-assisted options;
- Complete service requests in a timely fashion;
- Deliver effective user experience;
- Follow up with customers to validate issue resolution and high satisfaction.
To provide seamless customer service, bankers need full visibility into customer and account level information. ARGO Connects empowers bankers with a 360-degree view of customer information, related accounts, contact history, and in-process and recent activities. From this access point, a banker can view pending service items, initiate and complete real-time service requests, and submit complex service requests through workflow to perform customer and account level maintenance.
Download ARGO’s Getting Service Right in Omni-channel Delivery Interview Brief.