Today’s empowered and connected banking customers demand services according to their individual preferences of interaction. They use one or a combination of channels such as online banking, contact centers, chatbots, ATMs, mobile, in-person, etc., to open an account, make payments, apply for loans or manage existing accounts. Customers move and switch between channels quickly: research online, review on social media, call the contact centre, and go back to completing the transaction online.
Few challenges that banks face
- In times of instant consumer delight, it is quite a challenge to deliver exceptional and seamless customer experiences that span online, offline, social media, the Internet of Things (IoT), etc.
- A disjointed customer relationship management (CRM) across divisions, geography, or product lines
- The technical complexity to connect experiences across channels
- Leading to customer experience across channels that is fragmented, and most often unhappy
Today, banks can predict customer needs; make suggestions, and offer services even before customers know they need it. Here are a few examples of understanding the customer, sometimes even before he is onboarded:
- Consumers who begin account openings, but do not complete applications online will receive follow-up communication from banking personnel to offer a true Omni-channel experience combining physical and digital support
- A customer browses investment options online, prompting a message from a private bank for a review of investment and payment options
- A non-customer browses loan options without a customer log-on, which prompts a call from a bank employee
- A sales agent builds a proactive outreach campaign, based on analysis of customer buying patterns and priorities
In all these cases, Big Data Analytics makes it possible to identify customer behavior and helps the bank connect with the customer in the way they (customers) want.
Omni-Channel is the key to driving exceptional customer engagement and better customer satisfaction
An Omni-Channel strategy:
- Provides a unified method of gathering customer data, insights, and preferences
- Is driven by Big Data analysis of customer information, tracked from every contact point of the customer journey, ensuring that sales and service agents understand customer profiles, preferences, and context at every contact point.
- Additionally, banks that bring in advanced analytics techniques such as predictive and prescriptive analytics enable precise modeling of customer behavior. These in turn drive increased cross-selling and up-selling opportunities, pricing optimization, and targeted offerings.
- Predictive Analytics helps unlock opportunities that drive growth- the insights from big data analytics allows marketing executives to make more informed decisions. Taking into consideration past buying behavior, demographics, and information from social media along with CRM data, Predictive Analytics help improve customer engagement, experience, and loyalty.
- Helps customers to engage and do business with and via their bank moving from one channel to another in a highly flexible manner, while receiving a consistent experience and never having to restart transactions unnecessarily.
- An exceptional Omni-channel customer experience reduces customer churn and increases customer retention with
- Shorter call handle times
- Faster and better first-call resolution
- Improved customer satisfaction and decreased customer churn
- Enhanced customer value
The power of Omni-Channel built on UniServe™ NXT
UniServe™ NXT platform builds business agility. It gives a 360-degree view of your customers across all systems (CRM, billing, self-care), ensuring the service level and responsiveness received across channels (mobile, tab, laptop, physical) is consistent.
Key Features of UniServe™ NXT Omni-channel platform
Consumers want to move fluidly from one channel to the next and the digital-first approach by banks brings value to customers by offering personalized and sophisticated services. The platform UniServe™ NXT allows the data generated through digital mediums of operation to integrate their business intelligence and turn it into actionable data. Here are some popular banking services offered through a combination of digital and personalized banking:
Today’s connected customer has brought in the importance of personalization on a scale never seen before. We help banks offer digital experiences, which boost engagement and ensure lasting relationships with their clients. UniServe™ NXT’s Omni-channel digital banking platform puts you in control of your digital strategy, enabling you to create, manage, and optimize the end-to-end customer experience that puts you ahead of the competition.
Intense Technologies helps leverage big data in ways that help deliver a superior customer experience. We have a proven track record of enhancing business agility that drives customer centricity.