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There is no longer any doubt that traditional channels (face-to-face or telephone service) are giving way to digital channels based on self-management portals and chats that seek to resolve customer concerns through voice or text-based interfaces. Digitization of banking customer service provides challenges and opportunities both regarding bank operations and customer satisfaction.
Furthermore, the growing use and variety of operations for which digital customer service is used have strongly accelerated due to the current pandemic scenario, forcing banks and users to turn to digital operations by almost 100%.
What are the advantages of digital services?
Digital services in banks reduce costs and enable the integration and automation of operations management and traceability. As a result, human intervention can be devoted to non-automation or complex processes requiring analysis or evaluation such as claim or incident management. Although there are other challenges that must also be recognized such as technological dependence, constant monitoring, and the ability to respond quickly and appropriately to client’s requests.
On the customer’s side, 24-hour customer service is provided from any location, which means greater convenience. Problems may arise if problems and exceptional situations are not resolved including the low perception of personalization and empathy, in addition to the need for having a good Internet connection.
However, customers have a strong preference for digital banking services to carry out procedures and transactions showing marked growth over time.
Furthermore, technological expansion and innovation is strongly expected for operations like these:
- 65.6% Virtual Wallet
- 48,8% Biometric authentication, through digital onboarding, allows the remote opening of financial products and services with biometric technology for optical and facial recognition.
- 43% QR (Quick Response) Code Payments.
The most valued aspects of the bank client experience in relation to human intervention in the branch are the following:
79% Personalized attention
26% Security
21% Trust
Source: PwC
Personalization, security, and trust are aspects to take into account at the moment of digitizing customer service since a good customer experience is compensated with customer loyalty.
Current scenario
It is important to ask oneself about the possibility for the use of physical channels due to the COVID-19’s pandemic, since at the beginning of this year, the previously mentioned banking digital trends accelerated with increases above 200% (applications and banking web pages). Infocorp digitalizes your Bank’s customer services
In this way, Banco Santander in Spain accounted for an increase in digitization after the onset of higher confinement measures for several months. In April, 300,000 new digital users opened their accounts and the number of accesses through their application increased by 215% requiring the onboarding of 550 additional operators in its call center.
In short, the increase in the use of new channels and digital customer service is expected to continue, not only to provide more convenience to clients, but also to allow banks to offer enhanced products, services, and user experience.
Learn more about how to improve the digital experience of your clients with your bank.
