Handy traditional and upgraded technologies to transform banking customer engagement
Customer engagement is something that matters for every industry and business. Banking, being such a customer oriented industry is obvious to pay greater emphasis to it. However, it is true that customer engagement in banking is much evolved in modern times. In comparison with the scenario past few years, it is indeed technically much more enriched. Following sections figure out the handy traditional and advanced technicalities/strategies those can be leveraged for transforming customer engagement.
Cloud: deriving an altogether new dimension of banking service
Banking industry has passed through various technological transformations through a period of time. However, cloud has certainly transformed the scenario most significantly of all. In fact, it won’t be wrong to claim that cloud has discovered an altogether different dimension of banking functionality. Data exchange on cloud being supremely easy, effective, and fast, makes it incredible for customer engagement. Moreover, digital technology for banking industry is much more customised in modern times to meet the customer experience well.
Sharing the display of the customer
Banking on cloud hasn’t just helped in providing greater access for the individuals; it has provided the flexibility of mutual access as well. It has worked tremendously well for banking industry so far in terms of customer engagement. Moreover, it’s speculated to be even more significant in future.
This is perhaps the sleekest way of customer engagement enabling banks in sharing display and browser with customers. This approach at the same time makes customer support efficacious. It basically cuts short the time that would have been wasted simply for addressing the queries of a customer. Instead, the concerned officials have the access of the client’s display and do the needful.
Simplifying the process to nominal channels
A great customer support is not something that is too complex to get. However, things were different a few years back. Banks used to employ complex methods for customer support through numerous channels. It was impossible to provide personalised solution through such channels. Things are much different these days as banks can now use device-friendly solutions.
These solutions enable users in having access with the customer support team through a single click. It means a client/customer doesn’t have to go through several channels to reach the desired service department. Such facilities combined with video chat support provided remotely can turn things much more exciting. The advanced support through video chat and mutual browser access provides incredible assurance among the users/customers.
Engagement through notification, statements, etc.
It’s not just that customer engagement these days is all about automation. Yes, technological intervention is crucial. But, the process should be strategic enough for best outcome. Most importantly, it should be attuned with the functionalities provided by the bank. Simple functionalities can be enhanced technologically or made smarter to improve engagement. Generation of electronic statements can be a fantastic example in this regard.
Similarly, smarter ways of providing notification alerts can facilitate better communication with the client. For greater accomplishment, banks are emphasising on customised solutions upon measuring promotion effectiveness. The idea is to make the genuine banking functionalities more and more intuitive. In fact, involving more number of people with mobile banking or digital banking can also turn things way effective.
RPA: The most robust and farseeing solution for contemporary banking customer service
Undeniably, RPA solutions have taken customer service standard to an altogether different level in banking arena. It is considered the most upgraded concept in customer support segment. Technically, it is software. However, practically, or from application perspectives, this is very much a robot meant for smarter transaction. It can be the smartest tools for data manipulation and responding.
High-end RPA software can effectively address different functionalities of a business. Needless is to say that such tools can be highly useful for a multi-faceted industry like banking. In fact, it has been developed keeping the industries involving rigorous transactions.
Addressing key domains
It’s quite proven that rpa tools can make customer services of banking industry significantly cost-effective. Powered by automation, banking industry professionals can shift their focus towards improving the value of customer experience. All that it needs for the bank officials or those associated with managerial positions to analyse the key domains. It would be even better to make a thorough risk analysis as well for better implementation of these tools.
Having proper setup for RPA adaptation
Any kind of transformation is not easy to be adapted. Similar is the case about RPA as well. Customers are obvious to have some doubt as far as utilisation of automated devices is concerned. Many still feel that the traditional mode of visiting the branch is the most assuring way available. Hence, it is essential first to convince such customers about the reliability of the tool.
Rather than a mere process, it should be taken as a business and customer development mode. Specifically, the customer should feel the effectiveness of impact of such automation tools. At the same, its roadmap from implementation perspectives should also be kept ready. It would be even better if a demo trail is made prior going for final execution with the customers. It could be the way of educating the customer about the tool.
Addressing intrinsic aspects
RPA implementation is not always about the customers. It’s seen in many occasions that bank internal members don’t get easily accustomed with such technicalities. In some occasions, it gets delayed for desired IT set-up. Traditional IT system and the constraints generated through those have been found among the prominent factors resisting automation. It is highly essential to address these factors prior delving in to high-end technicalities. Also, instead of free rpa software, banks should realise worth of customised rpa tools.
Customer engagement through privacy Services
Undoubtedly, providing utmost security assurance falls within the responsibilities of the concerned organisation. And, the same rule is very much applied for banks as well. However, banks can leverage it as an effective mode of customer engagement. Any customer is obvious to be highly serious about the security aspects.
They won’t mind to interact with the banking officials regarding safety aspects. This makes an incredible opportunity for the banks to boost intuitiveness with the customers. Nothing can be more effective than this to meticulously understand the concerns of the customers or their feedback.
In fact, clients/customers don’t mind sharing their key details in such occasions. Good to see is that customer service in modern times is much enriched through availability of customised tools. Customer engagement can be taken to a new level under the aegis of such personalised solutions. All that the banks need is to strategically approach towards this mode of customer engagement.
Leveraging traditional chatbots
No doubt technically enriched modes like RPA are given greater prominence by the banks. But, no matter how high-end robotic process automation software used, it is crucial to leverage the traditional chatbots as well. After all, a bank can’t make use of expensive software or tools for direct transactions.
In fact, majority of the customers in modern day banks do make absolutely simplistic queries. These queries can’t be addressed through RPA and all. In short, banks should strategise about keeping the perfect balance between the traditional tools and upgraded concepts like RPA.
Conclusion
To conclude, customer engagement in banking has been pretty critical in terms of business development. Wholesome approach should be thus made towards enrichment of this department through the utilisation of traditional and upgraded technicalities. Most importantly, the department should be optimised from both front-end and back office processing for the best result.
