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Simplify the Banking Experience to Earn Customers for Life

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In the DC region’s highly competitive financial services industry, banks must ensure customers enjoy an easy and efficient experience at each journey stage. There’s simply too much risk that poor experiences will tarnish the bank’s reputation, turn away customers, and harm the bottom line.

Today’s communications solutions and technologies empower banks to break down unnecessary walls between their internal processes and customers. With these barriers removed, banks have new freedom to increase transparency, build trust, and foster personal experiences that help them earn customers for life.

Engage in Meaningful Interactions Every Step of the Way

To engage each customer more effectively in the right way at the right time, banks must seamlessly blend digital and human interactions. According to McKinsey & Company, banks that shifted to a more integrated, multimedia approach to customer communications have had convincing results, including:

  • Double the number of digital sales to customers
  • Three times more success in cross-selling bank services
  • A 40% increase in customer activities with the bank
  • One bank even reduced its cost to serve customers by two-thirds.

How to deliver technology-driven Banking Experiences that streamline every step of the Customer Journey:

Make it Fast and Easy to Navigate the Process

Initiating a new loan application with a bank can be very intimidating for people, especially when it’s their first time making a significant purchase, such as a house. They’re unfamiliar with the bank’s processes or what will be required.

When customers can easily set up a new account online and apply for a mortgage in minutes, it helps alleviate stress. User-friendly online forms and virtual agents answering questions along the way can efficiently step customers through the application requirements.

To further accelerate the process, customers can upload supporting documents such as bank statements and identification documents without leaving the user interface.

Connect with Customers their Way

Even with the most intuitive online forms, helpful virtual agents, and proactive communications, your customers sometimes need the reassurance and conversational exchanges that a person can best provide.

While AI is fast and helpful, customers want to communicate using their preferred media, which can mean connecting with a human. Collaboration apps put personalized text, voice, and video communications with bank agents at your customers’ fingertips.

A conversation may start with a voice or video call. Those communications can be followed up with text and email messages that provide additional support and links to more information.

Provide Timely Updates and Guidance

As the loan application moves through the bank’s internal processes, it’s crucial to keep customers informed about its progress and help them take full advantage of technologies that further accelerate the process.

When customers instantly receive text or email notifications confirming their application has passed through each process stage, the bank builds confidence. When customers can track the status of their application in real-time through a secure online portal, that trust is further strengthened.

Providing support and guidance is essential. This support can include walking customers through the steps to provide electronic signatures and providing clear, easy-to-follow instructions to access the bank’s secure online portal.

Timely communications will help customers successfully navigate their digital interactions without a trip to the bank or triggering a delay in their application.

Deliver Exceptional Banking Services with TCI

When banks and other financial institutions dramatically simplify their services, they eliminate many of the unknowns and fears around banking processes for their customers.

TCI takes the same approach when helping its local customers choose, deploy, and integrate the communications solutions and technologies needed to deliver exceptional banking services. It’s one key reason DC Metro banks and financial institutions trust TCI to help make their customer experience vision a reality.

Together with our Mitel-powered financial services solutions, TCI provides everything required to deliver the seamless, personalized customer experiences described above, including:

  • Secure, end-to-end Unified Communications services
  • Contact center solutions that incorporate advanced technologies, such as Google Cloud Contact Center AI and desktop co-browsing capabilities
  • Electronic signature solutions
  • Biometrics solutions for secure identity verification
  • Multimedia collaboration and meeting applications
  • Integration of communications solutions with the third-party applications banks depend on

If your bank is looking for communications technology that will support your efforts to earn customers for life, contact TCI today at (703) 321-3030 or GetHelp@tcicomm.com.
 


6 Tips to Improve Your Bank’s Online and Omnichannel Customer Experience

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While the new financial experience may involve fewer person-to-person interactions, clients still expect high levels of personalization.

Financial services Customer Experience (CX) encompasses every customer interaction with an institution on every platform. While this used to primarily happen over a teller counter, the new omnichannel CX includes apps, embedded finance, online systems, digital communications, and contact centers – any way users access their services. The better a customer’s experience at every touchpoint, the more likely they are to trust that company with their finances.

From their initial deposit to their many investment milestones, here are six tips for creating a better experience that your customers will know they can bank on.

1. Build Trust with Digital-first Customers – Digital money management can be daunting for new customers, especially if they are unfamiliar with your brand. Earning client trust can be challenging, but there are ways to make them feel more comfortable using your products. Center your company’s mission and values with consistent messaging and back it up with your services. Clients are concerned about the security of their transactions, so be transparent with your compliance and data privacy policies.

2. Prioritize Self-Service – Currently, most transactions originate digitally, with customers accessing self-service portals or making payments through embedded financial technology. Online transactions like trades or transfers are automated and fast. They generally require little intervention from human agents, making them efficient for the client and cost-effective for the financial institution.

3. Add a Human Touch – In an era where customer interactions are limited, each point of human-to-human contact is valuable. When self-service and AI can’t solve an issue, it’s up to the human agent to step in and provide exceptional customer service. Empower agents with up-to-date information about the client’s history to easily step into the conversation for personalized, empathetic support.

4. Create Connections Between Customers and Employees – Clients will feel more comfortable knowing their money is in the hands of knowledgeable, dependable financial employees, so make sure the transition between self-service and live agent assistance is seamless. Ensuring contact center agents are always available via phone or chat and equipped with top-of-the-line communications solutions leads to faster resolution rates and happier customers. UC solutions like AI-assisted agent support for dynamic real-time responses and work-from-anywhere technology will empower your people to respond professionally and customers will feel confident in their care.

5. Optimize Your Workforce – Human capital is the most valuable – and one of the most expensive – elements of running an organization. Finding the right balance of automated solutions and human expertise can help manage budgetary concerns while improving employee and customer satisfaction. Automated workforce management technology uses analytics to track times of peak demand, creating strategic schedules for flexible, efficient contact center staffing.

6. Collect Valuable Feedback – Today’s digital-first customers quickly tap a thumbs-up or thumbs-down icon, but gathering meaningful feedback is essential in providing high-quality financial experiences. Whether it’s a satisfaction survey at the end of a call or a net promoter score after an online chat, give customers a chance to share their thoughts. Their insight can identify pain points and lead to CX improvements you hadn’t considered.

Improve Your Financial Services CX with TCI

The pivot to online financial services is an opportunity for traditional banks, credit unions, and other institutions to provide new levels of exceptional customer experiences. Contact TCI today at (703) 321-3030 or GetHelp@tcicomm.com.