Elevating CX in financial services for modern customers

In today's digital age, customers expect a seamless and personalized experience from their financial institutions. They want to be able to access their accounts and services quickly and easily, no matter where they are or what device they are using. They also want to be able to get help when they need it, without having to wait on hold or repeat themselves to agents. 

Financial institutions that can provide a superior CX will be well-positioned to attract and retain customers. In fact, a study by Temkin Group found that companies with a superior CX experience enjoy a 10% premium in customer retention and a 5% increase in revenue. 

There are several ways for financial institutions to elevate their CX. They can use AI and machine learning to automate tasks, offer live chat support, make it easy for customers to find information, and personalize the customer experience. By taking these steps, financial institutions can create a CX that their customers will love. 

Here are some specific examples of how financial institutions can elevate their CX: 

• Use AI and machine learning to automate tasks. This can free customer service representatives to focus on more complex issues. For example, AI can be used to route customer inquiries to the appropriate department and resolve issues without the need for human intervention. 
• Offer live chat support over a popular channel like WhatsApp or social messaging. This allows customers to get help quickly and easily. Live chat is especially popular with millennials and Gen Z who are used to communicating in real time. 
• Make it easy for customers to find information. This can be done by using FAQ chatbots to answer frequently asked questions with minimal development and without the need for any human intervention 

• Personalize the customer experience. This can be done by using data to understand customer preferences and by offering tailored products and services. For example, a financial institution could use data to identify customers who are likely to be interested in a particular product or service. They could then target those customers with personalized marketing messages. 

By taking these steps, financial institutions can create a CX that their customers will love. This will lead to increased customer satisfaction, loyalty, and revenue. 

Click here to learn more about how CEQUENS can help you elevate your CX.