Fintech Reinventing Banking Customer Service

In 2020, customer experience is expected to become the main differentiator between brands. But unfortunately, 51% of consumers report that most companies aren't meeting their heightened expectations.

By prioritizing 24/7 access, FinTechs offer services available via non-traditional channels such as social media, empowering customers to a great extent. By 2021, social media will be the primary medium to connect, engage, inform and understand customers (from the mass ‘social mind’ to the minutiae of every individual), as well as the place where customers research and compare banks’ offerings.

How to Use Technology to Transform the Consumer Experience at Your Bank

Whether you’re a heritage banking institution or are just breaking into this competitive segment, this transformative tool helps you reinvent your consumer banking experience to keep up with end-user requirements.

v Automate Customer Support With ChatBots
Modern technology has led consumers to expect quick, smart, and round the clock customer service. This is what ChatBots are perfect in. The algorithms encrypted makes it work perfectly to resolve customer queries.

v Implement Modern Ways Of Doing Onboarding — Video-KYC
Ease out the onboarding process of every customer. Every country has its own government Id card system linked with mobile numbers. A simple OTP verification and a live video; sufficient. This is stored virtually and is accessible to banks even for years.

v Seamlessly handle Grievances And Support
Grievance & Support Manager software helps you organize all your customer requests and cut through the clutter. It makes the job easier, every step of the way.

v Deliver Flawless Experiences on Every Banking Channel by Going Headless
More than 70% of consumers shop on multiple channels. In the financial sector, 60% of customers engage with their bank’s online and mobile channels, while 75% of sales still occur via telephone or in-branch.

A headless content management system (CMS) is just the tool to help financial institutions develop and deliver personalized, relevant offerings across channels.
On its back end, a headless CMS platform empowers marketers and content people to create and optimize content in a single repository. On its front end, designers and developers have the freedom to build out the best display for that content depending on if it’s going to live on a web page, a mobile app, a chatbot, or another smart device.
Thanks to the modular AI design that separates the creation and delivery of content, CMS makes it easy for banks to deliver personalized experiences across the varied communication channels their consumers use.

Start Reinventing Your Retail Banking Experience Today with Transformative AI Technology

Whether you choose to automate your customer support using chatbots, implement mobile devices to reshape the in-branch experience or automate personalization, you’re taking action to give consumers the kind of banking experience they demand. Even small steps toward personalization can have a big impact on the end-user experience. And with this experience becoming the primary differentiator among brands, that is a value investment.

 

CREDITS:- www.salesforce.com/research/customer-expectations/ 

                   hbr.org/2017/01/a-study-of-46000-shoppers-shows-that-omnichannel-retailing-works