Collaborative apps to enhance customer engagement and operational efficiency

While banks have delivered technology to make our lives easier, it’s arguable that the tech has to some degree left an emotional and intellectual vacuum. Maybe we are missing the advisory insights we need to understand more complex banking products.

This can be a problem for banks, even those that get good customer ratings. It can make them more vulnerable when it comes to the competition – especially to the more customer-centric industries like retail. They need to look for ways to put the humanity back into the transaction and the conversation back into the customer’s experience.

We believe that banks need to give their hybrid workforce the tools to not only engage with customers in a more human way but also to be able to access the information and the people they need to engage. The goal is to deal with their customers’ enquiries and wishes, at the first time of asking. Or even better: proactively giving support and advice.

What could this look like?

When a customer applies for a loan, there are considerations that must be addressed. Consequently, the bank employee initiates a video call with the customer – note that human touch – and discusses the request detail. During the call, they can access the information they need to consider the customer’s request, from both internal and external systems. For example, the customer information system to look at the customer’s account history and loan eligibility. As part of this, they need additional approval. They invite another bank employee on to the call to expedite decisioning – collaborating in real time. This way of working accelerates the journey and a speedy decision.

Delivering the future, today?

Collaborative apps can exploit automation and AI to remove the mundane manual processes involved in day-to-day tasks. All this in a secure environment, with the ability to combine familiar tools. These include meeting bookings, notes and documents, in the place they are needed. The result is a single system of digital collaboration and engagement and a great experience for customers and employees.

Apps like Microsoft Teams allow staff to complete tasks or answer an enquiry on a call without ever leaving their flow of work. They can contact colleagues or bring them right into a customer call, using the best digital collaboration capabilities to share screens and access any data to complete a shared process in real time.

In summary

This humanisation of digital banking is fast becoming the new battleground for banks – traditional and neo.  It is not overstating it to say that that those who don’t get it right will become the laggards of the sector and those who do will have a chance of becoming the leaders.

Register here for our Collaborative apps to enhance customer engagement and operational efficiency webinar with UK Finance at 2pm on 14 July.

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