Updated customer service technology helps banks
Banks, perhaps more than other companies, need the best contact centers, as customer service is paramount when dealing with people's finances. If individuals have bad experiences with the customer service of their bank, they may move their money.
According to BankTech, customers want increased access and support surrounding their finances in light of the economic recession. Many have switched banks because of insufficient customer service, rather than interest rates and account rewards.
And a separate survey by TD Bank revealed that many small business owners feel stress on account of poor customer service, suggesting that client support is extremely important for banks.
Banks use contact center technology
HarborOne Credit Union has used the latest contact center technology to improve customer support. The technology uses unified communications software for instant messaging, conferencing and video, reported BankTech. With the new software, HarborOne can involve the right experts to help customers work through their issues.
The implementation of the strategies requires money, of course, and a return on the investment is essential. BankTech reminded executives to make sure the strategy has a scope that is enterprise wide, to choose technologies that fit well with objectives and to highlight collaboration is part of the process in order to achieve financial success.
Small businesses exhibit banking stress
According to the TD Bank survey, the top stress for small business owners is managing finances. The survey showed that 28 percent of businesses were stressed because of a lack of customer support, more than in any other area. The customer service stress was followed by 20 percent who were frustrated by limited bank locations. Hours of operation, credit delays and limited access fell behind both.
"Small businesses place strong value on customer service and personal relationships, so it makes sense that they look for those same qualities in their bank," said Jay DesMarteau, head of small business and government banking distribution at TD Bank. "Small business owners can reduce stress by partnering with a bank that respects their time and offers convenient ways for them to bank on their own schedule."
By implementing the latest technology into contact centers, banks can better accommodate their customers, especially when they are under stress. Unified communications systems that include voice, video and more paired with CRM systems can help all businesses, not just banks, work to create positive customer service experiences.