Three key reasons for financial companies to adopt new contact center technology

Feb 7, 2023


During times of business uncertainty, technology can help provide faster service, relieve human capital, and improve customer satisfaction. Nowhere is this more prevalent than in the financial services sector where banks and credit unions of all sizes are embracing automation technology to streamline customer communications and backend operations. When it comes to customer and member experiences, the contact center plays a key role and while overhauling one’s operations can be financially burdensome, adding automated communications technologies has many rewards.

Streamline customer service

Institutions in the financial services sector must maintain constant and efficient communication with their clients. This is where AI, natural language processing, and chatbots come in. These technologies are crucial in responding promptly to frequent customer concerns. As a result, the need to hire additional staff to respond to client concerns is reduced, freeing up the current staff to help customers faster.

Having proper contact center software can differentiate between slow and fast, efficient customer service. Financial institutions can automatically point clients towards self-service options by using interactive voice response systems (IVR) and automated call-routing features. This cloud-based software allows you to serve your customer base from anywhere.

Automate upselling

Upselling requires businesses to identify why clients call a contact center. By examining data from communications, you will know the products and services that stand a better chance of being upsold. This information enables you to position agents with the right skillset to most effectively upsell a customer.

Connecting a communications automation platform to your customer relationship management (CRM) software can give agents a 360-degree view of clients. With CRM integration with contact center technology, agents will have access to all customer data – helping them to better understand how the customer interacted with them across all channels. This will open doors and enable marketing departments to better promote products that benefit customers and cross-sell services.

With connected platforms, the contact center agent can see all customer account information. When speaking to clients, agents can review pertinent information, which ensures faster customer service.

CRM software helps you deliver experiences that customers have come to expect. It will ensure a fast onboarding process and real-time responses for customers. CRMs also help save time by reducing monotonous administrative jobs and streamlining your client engagement process. Sophisticated contact center technology will be crucial to upselling.

Do you want to learn more about modernizing your contact center and accelerating customer engagement with generative AI and automation? Schedule an AI and automation Customer Interaction Intent Study with IntelePeer now.  

Improving customer experience

Answering calls may be one thing, but how you handle them is the real deal. Contact center systems allow access to technology crucial to enhancing the quality of your customer experience. This includes:

  • Post-call surveys documenting satisfaction and ratings
  • Call recordings of real customers conversations with agents for training purposes
  • Speech and text analytics software to analyze and record customers’ intent

And, when it comes to customer experience, safety and security can’t be stressed enough. Ensure your customers’ accounts are safeguarded with data encryption, fraud monitoring, transaction authentication via SMS, and two-factor authentication. Measures such as these enable the financial services industry to deliver a comprehensive security layer to protect their customers and members from identity theft, fraud and other security-related issues. 

Just the start

These are three big reasons for financial services companies to adopt new contact center technology, but they’re just the beginning. Find out the full capabilities of communications automation and how it can help your financial institution.

Heather Hancock

Heather brings 15+ years of experience in automation and cloud communications to the IntelePeer team. With a background in telecom, Heather is a skilled product and solutions marketer with strong GTM, messaging, and vertical marketing experience. Heather spends her time walking her pit bull, Bella, singing in a pro karaoke league, and being a cool aunt to her 7 going on 17-year-old niece, Adeline.

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