The future of CX is knowing what your customers want before they call or text you

Like many industries, financial services (FinServ) have seen new challenges rise over the last three years, such as employee shortages and ever-evolving customer expectations. As these issues continue for the foreseeable future, savvy FinServ companies strive to meet demands for improved customer service – unsurprisingly, three out of four businesses are prioritizing enhanced customer experiences (CX). (Act-On, 2023)

To stay competitive, FinServs must provide consistent and exceptional customer service – bland and generic content will not suffice. From the customer perspective, 84% of individuals want to get recognized as a person, not a faceless number. (Salesforce, 2019) Likewise, customers want to feel heard and understood when they receive a phone call, email, or SMS message. Communication automation is the key to achieving this new level of personalization.

Integrating an omnichannel communication platform to enhance the customer journey

Incorporating an omnichannel communication platform empowers FinServs to establish a seamless experience across channels and the customer journey. Best-in-class omnichannel communication platforms include CRM integration, ensuring customer information gets captured and utilized to promote personalized experiences. Another benefit of using such a platform is comprehensive and connected analytics. FinServs can use this information to plan, anticipate, and predict customers’ needs, improving the CX. These analytics also enhance operations by helping FinServs eliminate friction in the customer journey and provide agents with deeper context into the customer’s unique financial background.

Additionally, FinServ businesses can target customers through contextualization. Leading companies deliver personalization through a more contextual customer journey and, in doing so, address the unique needs and challenges of each customer. By providing individualized interactions throughout the consumer journey, clients will feel less like a number and more like a valuable customer. And with the tools of an omnichannel platform, FinServs can manage customer data easily, efficiently, and securely.

Improving CX and boosting efficiency through automation

The use of automation throughout the CX makes it possible for businesses to help customers address what they need before calling a financial representative. These tools also increase engagement and customer loyalty. And by combing automation and advanced analytics, FinServ businesses can better predict and serve customers. One example of proactively anticipating a customer’s need (especially if they are a Millennial or Gen Z) is allowing them to schedule an appointment online rather than calling to set up a new account. Adding this feature reduces the in-person wait time while diminishing friction, improving CX.

Automated services typically handle simple and reoccurring queries to meet customers’ demands. Automating repetitive tasks lets live agents assist with complex inquiries that require a higher degree of service. For example, an omnichannel communication platform could automatically send personalized SMS texts to customers, drastically increasing the response rate, driving revenue, and consuming none of a busy agent’s precious time.

IntelePeer’s Smart Automation platform for financial services

IntelePeer, a leader in innovative customer service automation, helps FinServs become digital-ready through its Smart Automation platform, which empowers customers to communicate effectively and automatically across channels via voice, SMS, social messaging, and more. Moreover, this platform can integrate easily with existing infrastructure, like CRMs, allowing FinServs to gain immediate value.

Utilizing IntelePeer’s Smart Automation platform will enable the financial services industry to overcome its many challenges while future-proofing it from unforeseen hurdles that have not yet arisen. Modernize your communications by contacting us today.