Combining Security and Service for Elevated Customer Satisfaction
By Courtney Mamuscia
Posted in Customer Engagement
For a financial institution's customer satisfaction strategy to be successful, it must focus on more than just one element, addressing a combination of components that includes all aspects of the customer experience. No matter the size or type of organization — be it a credit union, online banking program, or small community bank branch — leaders must pay attention to the correlation between two key principles of engagement: security and customer service.
Due to the sensitive and monetary nature of the industry, it's clear why secure solutions are a prominent demand of banking customers to help ensure the protection of their possessions and identities. And the growing risk of cyber threats adds an increased level of concern: According to the Financial Conduct Authority, reported incidents of cyber attacks against financial services firms rose 80 percent from 2016 to 2017, with the retail banking sector seeing the highest number of reported attacks.
An overarching customer engagement strategy can allow banks to be more aware of the security concerns of their clients. Conveying a clear dedication to safety and providing reliable services should be high priorities for financial organizations while also aiming to simplify, modernize and automate processes and interactions.
To drive strategic impact across the enterprise and elevate customer loyalty, solutions must be open and integrate easily to facilitate shared intelligence across the organization, break down silos, and accelerate decision-making. Simplifying and modernizing an engagement infrastructure is key to being agile and responsive to the demanding expectations of customers.
Financial organizations should also consider leveraging the latest in technology to help unlock the potential of automation and innovation. For example, intelligent systems can analyze customer activity by performing accurate people counting, tracking customer behavior (such as dwell times and wait times), and evaluating branch action. By leveraging this information, institutions can make informed decisions that can impact efficiency and safety, and inevitably enhance customer satisfaction.
Thorough security and dependable service in the financial industry are both paramount for their own reasons, but the two are most valuable to both the organization and its customers when combined. Innovative technology solutions should be used to capture and analyze interactions and conversations to enhance quality, sales effectiveness, and compliance, while simultaneously identifying security threats and vulnerabilities.
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