The Financial Brand Insights - Fall 2021

● Case-Based Communication: This allows the customer full access to the history and context of their conversation. Also, it enables the management of customer cases and the modeling of banking processes. ● Integrated omnichannel: Be available in the channels your customer uses already, ensuring frictionless customer journey and seamless switching between all banking channels. ● Optimization and automation: Reduce costs related to customer service by providing work support tools like canned responses, knowledge base, and remote workspace. ● Aggregation of new channels: Provide client support via the bank’s digital channels and move freely between them without disrupting engagements via chat, audio, video, or social media. ● End-to-end processes support: Providing additional tools to increase the range of supported customer service processes - eKYC, online documents signing, sharing files. In the context of scalability and implementation time, cloud-based solutions are the key to a quick transformation. Cloud is data, not an option. Enterprise concerns about the security, reliability, and scalability of cloud solutions are currently on the decline. McKinsey & Company reports a 24-fold increase in migration to cloud technologies. Also, according to Forrester experts report The Three Customer Service Megatrends In 2021: Post-Pandemic Customer Service Excellence , the migration of services to the cloud is the top priority (figure 1). Conclusion The pandemic has revealed a unique opportunity for customer service organizations. It has increased the importance of customer service in nurturing customers to maintain their loyalty and

Figure 1

Pandemic is accelerating initiatives to modernize customer service

“Which of the following technology initiatives is your IT organization prioritizing over the next 12 months?”

31%

Increase the use of cloud

54%

15%

27%

Improve the use of data and analytics technology

58%

15%

24%

Invest in digital experience technologies

57%

20%

Upgrade, replace, or consolidate legacy business applications/systems

22%

57%

20%

21%

Create a single view of the customer

55%

24%

NOTE: Percentages may not total 100 because of rounding SOURCE: Forrester Analytics Business Technographics

● High priority or critical priority ● Moderate priority ● Not on our agenda or low priority

the income they generate for banks. The need to adapt to consumer requirements and ensure consistent and personalized experiences across each channel has intensified. These factors are part of the digital banking transition, and they further increase the need for flexible, agile technology. Its role is to support the contact center’s work to build positive customer experiences that their finance partners will appreciate. Modern solutions such as LiveBank Communication Bus can effectively support customers in their customer journey. n

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THE FINANCIAL BRAND INSIGHTS FALL 2021

THE FINANCIAL BRAND INSIGHTS FALL 2021

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