Reported by: banking|Updated: August 22, 2018
Customer is always at the center of the business, and enhancing customer experience (CX) is a never-ending challenge for the financial services sector.
Consider two major aspects of CX. The first aspect is making the transaction faster, cheaper, less complicated and over a single channel. This can be termed as Interaction Acceleration (IA). The second aspect handling complex transactions, spanning multiple channels, involving skilled manpower. This can be termed as Interaction Enrichment (IE). For example, checking bank balance will be an IA and getting a loan disbursed would be an IE. See some examples of IE at the end.
IA touches the mind of the customer, while IE touches the heart. If CX is to touch both mind and heart, then it must encompass both IA and IE.
Today, digital tools and automation have led to tremendous growth in IA, while IE has been rather overlooked. However, it is IE which actually brings a smile to the customer, whereas IA only prevents a frown. While any gap in IA can result in transaction dis-satisfaction, IE gap impacts relationship satisfaction directly.
Human contact points such as Branches, Contact Centers and Business Correspondents are where there is maximum scope to touch the heart of the customer, and there are two ways of doing it. First is to empower the human agents by leveraging analytics, CRM, etc. Second is to use machines to deliver human-like interaction by leveraging AI, NLP, chatbots, robots, Voice User Interface (VUI), Natural User Interface (NUI), etc.
To explore the next generation of CX, Banking Frontiers invites select 12 business heads from Retail, Operations, Contact Centers, Branch Business, Innovations and Marketing for a Boardroom Brainstorming session. Do join us to explore the next dimensions of customer experience and how to deliver that through smarter technologies and enhanced integration.
Please Join us over a networking breakfast at 8.45 am which will be followed by the Boardroom session at 9.15 a.m.
RSVP : Durgesh Nadkarni – 900 444 6026 [email protected]