Driven by the rise of agile new entrants and the emergence of new digital channels, financial services companies are looking to new technology to digitise and automate customer service. Our latest blog explains how businesses in the sector can address key challenges around security, compliance, personalisation and efficiency to digitise and transform customer service.
The pandemic is accelerating digital transformation and a need for greater customer engagement in many verticals, and banking is a prime example. We look at the current state of banking customer service, based our latest search.
One of the biggest challenges for Voice of the Customer (VoC) programs is ensuring that they deliver tangible ROI for a business. How can they go beyond simply collecting feedback to drive real action? We explore how two major businesses are achieving VoC ROI.
Banking, like many other sectors, is undergoing a period of disruption and change. Government legislation is committed to making it easier than ever for customers to change banks and interest rates remain low, meaning that service is a primary differentiator between companies. How are UK banks delivering when it comes to customer experience?
Banks and other financial service providers are facing unprecedented challenges. Not only are regulatory pressures increasing, but a new wave of financial start-ups is entering the market, using technology to transform everything from loans to payment processing. Whether it is new branch-based banking, different ways of raising finance through crowdfunding sites such as...
Despite the rise of new channels, most organisations understand that the telephone is still vital for customer service. Whether it is to discuss details of an order or to get to the bottom of a query, it is still the number one channel of choice for many consumers.However, telephone service is expensive – and it could be about to get even more costly in the UK. From 13 June 2014, companies w...
A generation ago, financial services products were primarily sold face to face, either in branches or door to door, with documents manually filled in and posted to their destination. Customer service was dealt with through the same, physical, channels. This has changed radically, with the introduction of first the phone, then the web, and now social media, as sales and support channels. Managing t...
Whatever part of the financial services sector you operate in, delivering an excellent customer experience is becoming a vital part of differentiating, increasing sales and retaining customers. However consumers are growing ever more demanding and less and less loyal. They want an excellent experience, whichever channel they chose – and they want it delivered quickly. Fail to deliver and the...
Showing the importance of technology to the banking customer experience, IT issues caused problems for some Lloyds Banking Group customers trying to use their debit cards on Sunday. The group, which also includes TSB, Bank of Scotland and Halifax, has 30 million customers across the UK, although only a minority were affected by the glitch, which lasted 3 hours.Lloyds has since confirmed that the p...
Customer service at banks is again in the spotlight. Firstly, an undercover reporter from The Times found shortcomings at one of Lloyds Payment Protection Insurance (PPI) complaints handling centres. Staff were allegedly being taught to reject potential complaints and ignore potential fraud by Lloyds salesmen. The bank has said that it identified shortcomings independently and has retrained staff ...