Financial services

Commissions and customer service

Published on: September 07, 2012
Author: Epticablog

The financial services industry is currently facing major issues when it comes to customer service. Following scandals such as the misselling of products such as Payment Protection Insurance (PPI) and major technology problems at RBS, consumer confidence is at an all time low. No wonder that an increasing number of customers are looking to take their business elsewhere.As part of its remit to prot...

Counting the cost of poor banking customer service

Published on: June 01, 2012
Author: Epticablog

A lot of people in the UK pick a bank in their teens and then stay with them for the rest of their days. They may grumble – and even seek compensation when miss-sold products such as Payment Protection Insurance (PPI), but generally changing is seen as an unnecessary hassle, particularly as what banks offer is viewed as pretty similar.However new research shows that customer patience is wear...

Financial services and Facebook

Published on: April 18, 2012
Author: Epticablog

As they operate in a highly regulated environment, many banks and financial services companies have been wary of becoming involved in social media. There has been a real fear that a throwaway tweet could be seen as endorsing a product when it isn’t the right fit for a particular customer, leading to potential misselling claims and action by regulators.However when handled properly the benefi...

Putting the customer first in financial services

Published on: February 27, 2012
Author: Epticablog

When it comes to poor customer service, companies selling financial products, from insurance to bank accounts never seem to be out of the news. Hot on the heels of record payouts for the misselling of Payment Protection Insurance (PPI), card and identity protection company CPP is being investigated by the Financial Services Authority (FSA) for ‘alleged failings in sales calls’.Against ...

Ageas Insurance Services shows how to transform customer service

Published on: November 29, 2011
Author: Epticablog

Delivering excellent customer service is a central part of business today, whatever industry you are in. While sectors such as retail may be very visible when it comes to customer service initiatives, improving service can deliver huge benefits in other, more traditional, sectors such as insurance.The perfect example of this is Ageas Insurance Solutions (AIS), one of the UK’s leading persona...

Can Virgin bring customer service sparkle to banking?

Published on: November 22, 2011
Author: Epticablog

The Virgin brand is known for doing things differently and for putting the customer first, whichever market it is operating in. So last week’s news that the UK government has sold Northern Rock to Virgin Money could potentially have a big impact on the banking market.Northern Rock will be rebranded as Virgin Money, with the company pledging to increase the number of branches it has and to ad...

Dealing with financial services complaints – top 5 tips

Published on: October 19, 2011
Author: Epticablog

Figures just released by the Financial Ombudsman Service (FOS) show that the number of complaints made by consumers increased by 24% in the third quarter. 31,386 complaints were made to the FOS, which deals with issues escalated by consumers beyond their financial services provider, between July and September 2011.Commentators have highlighted factors such as the worsening economic situation for t...

Banking reform and customer service

Published on: September 14, 2011
Author: Epticablog

 This week the Independent Commission on Banking (ICB) released its long-awaited report on reforming the banking system. It has two main aims - firstly to protect us all from potential future financial crises by splitting bank’s retail and investment arms but importantly to increase competition within the UK banking sector.In fact the report states that it wants a market where “ba...

Ageas scoops two FST industry awards for multichannel customer service

Published on: April 14, 2011
Author: Epticablog

Ageas Insurance Solutions (AIS) has won not one, but two, prestigious Financial Sector Technology (FST) Awards for its successful Ageas eStream service transformation project, powered by Eptica technology. Best Use of IT in Insurance and Best Use of CRM technology were both awarded to AIS in recognition of the way it has transformed its multichannel cus...

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