How much value does your financial institution place on keeping customers or members engaged and satisfied? According to a survey from SuperOffice, the number one priority for businesses over the next 5 years will be a focus on customer experience (CX). In fact, almost 46% of survey recipients cited CX as a higher priority than either product or pricing. CX encompasses everything your institution does to put customers or members first, and a big piece of this is supporting them as they use your digital banking platform.
Financial institutions learned a great deal about CX and its role in supporting users during the pandemic. In the absence of face-to-face customer interactions, they relied on digital tools and mobile applications to reach users. And without traditional call center support, customer support teams began to experiment with new technologies like AI-based chatbots and digital customer support as a stopgap to meet users’ needs. When branches reopened, instead of reverting to life pre-pandemic, many financial institutions are reaping the benefits of these innovative tools.
Using Technology to Boost CX
As you continue to seek technologies to help you deliver a better digital experience, consider adding the following to your support toolset:
- Artificial Intelligence. The U.S. Consumer Financial Protection Bureau estimates around 37% of the U.S. population interacted with a financial institution’s chatbot in 2022, a figure expected to increase in coming years. With newer AI-powered chatbots, users get quick answers to questions and have less need for human interaction. With 24/7 support, chatbots allow customers and members to connect with your institution at a time convenient to them, even when support agents are offline. AI’s value to CX is in analyzing huge data sets and suggesting relevant self-help content to users. The functionality allows users to find answers themselves without relying on your customer support team.
- Digital Customer Support. Gone are the days when financial institutions could support their customers or members exclusively through call centers. For example, with the Apiture Digital Banking Platform’s digital support tool powered by Glia, your team can interact seamlessly with users in the way most convenient to them — audio (via phone or computer), chat, or video. Support personnel can see what users are experiencing in real-time and, through screen sharing or co-browsing, navigate the customer through the interface, demonstrating how to solve an issue. Customer support can also share files such as screenshots, documents, logs, etc. to assist in troubleshooting. Apiture clients who have taken advantage of the robust digital support capabilities have experienced tremendous improvement in customer ratings of the support experience, growing to 4.79 out of 5.
- Data Analytics Tools. By taking advantage of the data you have about your account holders, you can better understand how users are engaging with your digital solutions and use these insights to educate and drive adoption of specific features. Intuitive, low-code tools — such as navigational guides, tutorials, tips, and marketing messages — are available to help you deliver messages to users based on their behavior, allowing you to provide the right message at the right time.
As support tools continue to evolve and consumers request digital tools that make their lives more convenient, your institution can use technology to elevate the user experience. To learn more, contact us today.