Financial institutions around the world are struggling with the roadblocks of information silos and disparate systems of customer data that prevent global service and support call centers from delivering exceptional customer service.
Customer service representatives (CSRs) often need to swivel between a dizzying array of applications, as well as access information from both internal and external data sources, to confidently address customer complaints and questions. Gathering and analyzing this data, while also striving to provide quick and timely customer service, can be difficult tasks for your employees.
A recent Bain report revealed that customers conduct more than 50% of their banking interactions through digital channels in 18 of 22 countries surveyed. Additionally, 43% of customers expect social channels to be integrated with other customer service channels.20 This demand creates a customer service environment that’s more complex than ever before, with multiple channels and countless sets of customer data.
Some banks are addressing this complexity, while others are struggling to keep up. In the 2016 J.D. Power U.S. Retail Banking Satisfaction Study, Paul McAdam, Senior Director of Banking Services, stated: “Establishing customer service tools for competitive differentiation is key to a successful path forward. We clearly see that the customer satisfaction leaders in retail banking excel by hitting the sweet spot of providing a great digital experience backed by personal service.”
It’s a competitive environment and financial institutions that leverage technology and process automation, such as robotic process automation (RPA), to improve their customer service operations will thrive.
Leveraging software robots to improve the way you serve customers is an investment in the longevity and loyalty of your relationships and the future of your bank. In 2015, 79% of consumers considered their banking relationship to be purely transactional, up 8% since 2014.
Here’s how you can reverse this trend with robotic process automation (RPA):
ENGAGE CUSTOMERS IN REAL-TIME
Robotic process automation (RPA) enables you to deliver real-time access to data in any application and eliminates the need for employees to manually log into multiple systems to track down information that is trapped in disparate enterprise silos. With a 360-degree view of the customer profile immediately accessible in just a few clicks, your customer service representatives (CSRs) can identify and take advantage of cross-sell and upsell opportunities when speaking to customers.
AUTOMATE CUSTOMER SERVICE ACTIVITIES
Software robots can be deployed to automatically run complex integrations across email, call center applications and core bank systems—without the need for coding. This enables your IT team to address the needs of the business to integrate systems and reduce costs, while also enabling the highest levels of customer service and support.
INCREASE EFFICIENCY AND PRODUCTIVITY
RPA eliminates manual, time-consuming information searches by providing ready access to customer data in CRM, ERP and core banking systems. By eliminating data silos, your employees have timely access to the information they need to get their work done quickly and efficiently. With fewer mundane, manual tasks to deal with, staff productivity is improved and employees can deliver greater value to your organization.
EXCEED SERVICE-LEVEL AGREEMENTS(SLAS)
Integrated, easily retrieved customer data means you can minimize call center wait times to meet and exceed your SLA commitments. Your CSRs can pull up the information they need, when they need it, eliminating long hold times or service delays. They have more time to focus on the customer, understand their needs and improve relationships and satisfaction.