financial services cx

Image – Matt Madd (CC license)

Managing finances can be intimidating, even more so when your customers may feel like they are dipping into a murky pool of confusing terms, multiple layers and inconsistent results. Too many companies blur the lines even further by creating needless hoops through which customers must maneuver in order to get what they need. Although the financial sector has the added complexities of compliance and security, there are ways in which customer service processes can be streamlined.

How many times do I have to tell you?

In financial services, clumsy identity verification processes in the contact centre can contribute to heightened customer frustration and poor CX. Personalised service goes out the window if your customer has to identify themselves 5 times during one interaction or have to answer numerous arbitrary security questions to prove their identity before they can get assistance.

Introducing a biometric method of speech recognition such as voice authentication can help customers prove their identity quicker when calling the contact centre, and also reduce the risk of identity theft. Instead of using passwords or security questions, voice authentication enables customers to use their individual voices as the unique identifier, providing a much more seamless and efficient customer service experience.

Keep customers in the loop

Moreover, the customer profile should be updated in real time so that contact centre agents can always see exactly where the customer is in a specific process. For example, a customer may be trying to open an account, involving multiple steps such as sharing identity docs, proof of address, salary slips and so on. Without visibility, a customer may be unaware that a document has been lost and needs to be resubmitted unless they follow up, for example. If all the information is centrally collated, and the customer is frequently updated and informed of progress every step of the way, hiccups can be avoided, duplicate effort reduced and customer expectations managed effectively.

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