Fixing Customer Experience Pain Points with CRM: A Leader’s Guide

Improving the customer experience is one of the top drivers of investment in financial CRM today, and it’s no wonder why. Today’s consumers expect a banking experience that is omnichannel, hyper-personal, and effortless, and they aren’t shy about going elsewhere if their bank or credit union fails to live up to expectations.

To respond, banks and credit unions need to invest in the capabilities that their customers or members value most, like convenience, relevance, and 24/7 access to information. Here’s how you can use CRM to provide a customer experience that exceeds their expectations:

Improve customer experience and remove friction from customer journey

• Provide tablet-friendly, web-optimized user interfaces for front-office staff that reduce clicks and wait times during customer interaction
• Improve presentation of customer-facing reports, adding modern visualization options through business analytics.

In-branch interactions are still valued by bank and credit union customers. In fact, 65% of those surveyed by PWC said that having a local branch is very important to them. But to provide the best customer experience in a branch, bank and credit union employees need to leverage technology efficiently and consistently.

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That’s why credit union leaders, recognizing that CRM is only beneficial if it gets used, indicated to our researchers that ease of use for staff was a top CRM selection criterion at their CUs.

Omni-channel delivery

• Use a CRM with built-in referrals and assignments, so you can maintain continuity of customer conversations across multiple channels
• Extend campaigns through email with integrated tracking
• Extend customer touchpoints to mobile and self-service channels by building on CRM APIs, so the messages your customer receive stay relevant and consistent

Nobody wants to tell their story twice. The credit union executives who told us that tracking and reporting are key CRM capabilities know this. With enterprise-wide tracking, referrals, task assignment, and reporting in place, a bank or credit union is positioned to manage customer contacts across all channels, and prevent the lost connections that can occur as a ripple effect of an increasing number of channels.

Stabilize and ensure customer retention

• Track customer concerns and flag high-priority items in your CRM for urgent resolution
• Record post-service disposition signaling defection threat and follow up with retention activities
• Analyze other channel interactions and holdings for reduced balances and other signs of attrition

Today’s financial customers are willing to consider a broader array of service providers for their needs. Banks and credit unions that want to maintain their customer base would be well advised to put some focus on service and proactive retention strategies.

Our recent interviews with credit unions leaders suggested that they were satisfied with their CRM’s member engagement history and 360-degree member views. This is good news, as it indicates that the technical backbone for a comprehensive retention strategy is already in place at many credit unions.

CRM, for a human experience in a digital world

From your customer’s point of view, the ideal banking relationship is simple. It could be encapsulated this way: “ Know who I am, show me you understand me and my goals and make my experiences seamless and effortless”.

Of course, like a bank or credit union leader you know that behind the scenes, complex back-office architecture means delivering this experience can be anything but simple.

That’s why many tech-savvy banks and credit unions are considering CRM to bridge back office gaps and unify data. This will allow them to enhance the customer experience, track interactions and add value throughout the customer journey, at all cross-channel interaction points.

For more information on the business needs that are driving these conversations in the credit union industry, we invite you to read our recent report: Credit Union CRM: A survey of the CRM industry, according to credit union professionals

Source: https://www.doxim.com/blog/fixing-customer-experience-pain-points-with-crm-a-leaders-guide/

2022 Buyers Guide

Get Listed

Automation

 

1.)

Agara Agara is an autonomous virtual voice agent powered by Real-time Voice AI. It is designed to have intelligent conversations with your customers, vendors, and partners without any assistance from human agents. It can handle a wide variety of calls including inbound customer care calls, outbound lead generation calls, appointment scheduling calls, and overdue payment recovery calls. Agara is available for several industries including banking, insurance, retail, e-commerce, airlines, and telecom. Powered by advanced Real-time Voice AI that understands speech in real-time, automatically determines the right process to follow and guides the caller along in the process with natural conversation.

2.)

Auraya EVA Voice Biometrics Powered by Auraya's patented ArmorVox engine, EVA is a voice biometric extension that provides secure and seamless identification & verification capabilities for Amazon Connect. EVA provides delightful customer experience by removing the friction of providing PINs, passwords or secret information in order to prove caller identity. EVA comes standard with active and passive modes and a simple yet powerful agent interface. This allows for personalised self-service and a more friendly and efficient experience when interacting with an agent. Outdated security methods such as PINs, passwords and security questions have become insecure and unreliable. Forgetting passwords and security answers o... (read more)Powered by Auraya's patented ArmorVox engine, EVA is a voice biometric extension that provides secure and seamless identification & verification capabilities for Amazon Connect. EVA provides delightful customer experience by removing the friction of providing PINs, passwords or secret information in order to prove caller identity. EVA comes standard with active and passive modes and a simple yet powerful agent interface. This allows for personalised self-service and a more friendly and efficient experience when interacting with an agent. Outdated security methods such as PINs, passwords and security questions have become insecure and unreliable. Forgetting passwords and security answers or switching applications to access OTPs can result in inefficient and cumbersome customer experience. Time is wasted trying to verify customers with insecure methods. EVA works in English out of the box but can be configured to work in languages other than English. Recognising what specific digits are spoken using EVA's native speech recognition is only available for the English language out of the box. EVA has additional capabilities such as real-time fraud detection and digital channel enrolment and verification options that can be turned on with customisation services from Amazon Connect consulting partners. If you are interested in these additional features, please contact an Amazon Connect consulting partner that is an authorised Auraya reseller partner.

3.)

Call Adapt Soundboard Software Call Adapt is a cloud-based digital soundboard application designed for contact centers. It works with any type of call and integrates with your existing dialer system. Powered by smart audio technology, Call Adapt gives your agents the ability to converse with customers in real time using programmed keyboard shortcuts. The result is perfect pitch delivery and less time spent on repetitive tasks.

4.)

Consilium Software Consilium UniCloud™ UniCloud™ is an intuitive platform that allows Enterprises to deploy and manage their Unified Communication (UC) and Contact Center (CC) services with ease and entire provisioning can be completed in seconds using this comprehensive tool supporting digital transformation. The latest release 7.0 of UniCloud™ is a multi-tenant platform that transforms the delivery, management, and integration of collaboration and contact center solutions, for both Cloud and On-Premise deployment models. With its single-pane-of-glass views and quick provisioning tool, UniCloud™ is instrumental in reducing the time to provision an entire multi-cluster Cisco collaboration platform, including contact centers (C... (read more)UniCloud™ is an intuitive platform that allows Enterprises to deploy and manage their Unified Communication (UC) and Contact Center (CC) services with ease and entire provisioning can be completed in seconds using this comprehensive tool supporting digital transformation. The latest release 7.0 of UniCloud™ is a multi-tenant platform that transforms the delivery, management, and integration of collaboration and contact center solutions, for both Cloud and On-Premise deployment models. With its single-pane-of-glass views and quick provisioning tool, UniCloud™ is instrumental in reducing the time to provision an entire multi-cluster Cisco collaboration platform, including contact centers (CCX, UCCE, and PCCE), communications managers (CUCM), voicemail (Unity Connection) and IM & Presence by up to 85% which leads to the faster onboarding process for a new customer. A Self-Care portal within UniCloud™ is effectively managing services specific automation of MACDs (moves, adds, changes and deletes) allowing end-users to perform Day-2 related tasks of their own while reducing the basic operations workload of support teams. Consilium UniCloud™ enables enterprises and service providers to manage and automate the delivery of Cisco-based Unified Communications as a service (UCaaS) and Contact Center as a service (CCaaS) offerings using single, centralized management and easy-to-use administration interface, with role-based access providing granular control over permissions, limiting potentially unauthorized or inadvertent transactions. With its unified portal for UC and contact center provisioning, multi-tenancy and single-pane-of-glass views and tools, UniCloud™ introduces turn-key efficiency in onboarding new customers, provisioning of users, agents, teams, skill groups, and devices, or their migration from non-Cisco platforms to Cisco, and also provides centralized management and monitoring.

5.)	eGain Corporation eGain Solve Proven, Easy, and Guided Journey to Automate Customer Engagement in a Digital+AI World

6.)	Emmersion Automated Language Testing Emmersion offers automated assessments to quickly and accurately test speaking, writing, and grammar fluency in 9 languages and counting. We help contact centers improve CSAT scores by screening for top talent and retaining top performers.

7.)

OpsTel Services SPEED & PLUS The SPEED solution solves for service level issues while cost optimizing the environment with automation. Provides an enhanced way to speed up & optimize invoking temporary agent skills configuration changes into the contact center environment. Speed allows you to schedule both future changes & temporary changes that auto-revert back to the original state when scheduled time expires. Speed features: *Automated / Scheduled Temporary Agent Skills Configuration Management *Immediate Temporary or Reoccurring Schedule Skills Configuration Changes *Easy to Use/Operations Administration Focused *Descriptive Monitoring Activity Dashboard *Detailed “End to End’ Audit Trail and Perfor... (read more)The SPEED solution solves for service level issues while cost optimizing the environment with automation. Provides an enhanced way to speed up & optimize invoking temporary agent skills configuration changes into the contact center environment. Speed allows you to schedule both future changes & temporary changes that auto-revert back to the original state when scheduled time expires. Speed features: *Automated / Scheduled Temporary Agent Skills Configuration Management *Immediate Temporary or Reoccurring Schedule Skills Configuration Changes *Easy to Use/Operations Administration Focused *Descriptive Monitoring Activity Dashboard *Detailed “End to End’ Audit Trail and Performance Monitoring & PLUS provides a single interface, where operations teams no longer have to rely on HR, IT or any other organization to administer agent profile data across multiple technologies in the contact center. The PLUS solution allows for simplified provisioning & maintenance of agent profile data reducing processing time from days, weeks or months in LESS THAN 10 MINUTES! The PLUS features: *Agent Provisioning Cycle Time Reduced from Days/Weeks to 10 Minutes or Less *Fully Automated Agent Onboarding / Updating / Maintaining / and Offboarding of Agent Profiles (Identity, Access, Utilization) *Overlays and Enhances Existing Contact Center Solution Set *Enables Operations Staff to Maintain all Aspects of Managing an Agent’s Profile through “Single Pane of Glass” *Supports Multi-Faceted Agent Profile Attribute Configuration Requirements; e.g. Union Rules, Seniority Dates, Etc. *Detailed Agent Profile Audit Trails

 

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