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Top Six Retail Bank Customer Service Challenges Solved

March 22, 2016

I recently came across this chart and circulated throughout our company. All of our customers have struggled with these same customer service challenges across every channel including online, on the telephone, and in-person at the bank branch.

Ignite’s technology can help solve many of these customer service challenges, let’s take a closer look at how Ignite Sales has solved six of these challenges.

Listen to and understanding my needs - Many of the banks that we speak with do not have standard sales processes in place. There are no consistent Q&A across the organization to uncover a prospect’s needs. This can lead to inconsistent service, customer confusion and incorrect product recommendations.

How Ignite Helps: Ignites solution provides an online need analysis that can be taken online in “self-service” by the prospect or with a bank representative in the branch, video conference, or on the phone. The Ignite Guide Captures the prospects needs which is the first step to create an ongoing personalized experience. Once you have captured that baseline information, the experience is easily personalized and carried from stage-to-stage / channel to channel throughout the rest of the customer journey for consistency and better understanding.

Courteous, patient and friendly representatives with each interaction – By providing  a tool that is interactive, easy to use and matches the right bank products to the customers’ needs at the POS, representatives can now focus on building relationships with customers and let technology recommend the best fit services and products for each customer’s unique needs and circumstances.

How Ignite Helps: Representative have less stress and conflict at the POS and therefore are servicing the customer with confidence and a smile. Ignites clients have seen a nice uptick in their customer and employee satisfaction surveys after implementing the Ignite service.

A quick path to assistance - The Internet has changed customer expectations. Customers want their questions answered in real-time. This means they need access to people that can answer their questions.

How Ignite Helps: Ignite’s solution offers online chat, integrated video conference, and real-time appointment scheduling at the POS.

Clear communication of what service actions will be taken next - Communication at every touch point is critical for overall customer satisfaction and loyalty.

How Ignite Helps: Customer needs analysis follows the customer throughout their journey. At different touchpoints, personalized communication is sent to the customer. For example, after the initial consultation, the customer is given a take-away sheet with personalized product recommendations.

Consistent service regardless of channel - Although banks have embraced a multi-channel strategy where customers are able to research and buy financial products through multiple channels, including the branch, online, and customer service, many banks have yet to embrace an omnichannel strategy. The primary difference between multichannel and omnichannel is that omnichannel banking provides a consistent experience across channels with seamless access to products and services where and when they are needed.

How Ignite Helps: Ignite's Omnichannel Sales Analytics solution transforms the sales process, unites all sales channels and provides banks the ability to measure the financial value of each of its channels.

Useful proactive product or service recommendations - The average bank branch only opens 1.2 products per customer but most customers are eligible for for 5.5 products. One of the reasons for this is that customers are not presented with all of their options.

How Ignite Helps: Ignite’s Recommendation Guides uses the collected information, to return recommended product bundles that meet the specific needs of the customer in real-time.

For more information on Ignite's solution, click here.

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