Research Hub > 3 Ways a Contact Center Boosts Customer Experience in Your Financial Institution

November 17, 2023

3 min

3 Ways a Contact Center Boosts Customer Experience in Your Financial Institution

Your financial institution can benefit from a contact center in several key ways, laying the foundation to automate time-consuming tasks so that your employees are empowered to enhance the overall customer experience.

Financial institutions are challenged with managing customers' money while at the same time striving to minimize any worries for those customers through providing excellent care and service.

What’s more, people increasingly expect to complete transactions without having to visit a physical location, and financial institutions must have effective digital front doors in place. Digital front doors that are secure and adhere to legal policy.

By implementing a contact center in your financial institution, you can track and automate tasks that ultimately empower employees to focus on creating better customer experiences.

Here are three ways a contact center can enhance your financial institution’s customer experience.

1. Accessibility

When laying the foundation for impactful customer experiences, accessibility is key. Say that your customers are researching your website for a loan. They will likely come with many questions, and the first thing they might look for on the page is a chat widget to expedite their search. Without this function to facilitate a smooth and accelerated customer experience, you risk losing customers to your competitors.

With a contact center, not only can you deploy and manage a chatbot function, but you can also automate processes such as customers filling out required forms and other methods of data collection. This frees up employees to be available to customers for more nuanced situations that require a personal touch.

Accessibility means that your digital front door represents your financial institution’s offers with seamless integrations to backend systems, resulting in high-quality, on-demand service experiences.

2. Simplification

The less friction a customer faces during a transaction with your organization, the more likely they will return to you for future business.

Some questions to consider:

  • Does your organization’s website offer a simple-to-navigate interface?
  • Does it collect and store customer information, preventing customers from having to repeat themselves after initial contact?
  • Do your various platforms work in sync without a lot of manual overhead?

If you answered no to any of the above, a contact center can simplify these complex processes. Banking institutions, for example, benefit tremendously from knowing how contact centers pull information from multiple platforms to unify the user experience and create additional opportunities to assist customers.

3. Serviceability

Serviceability is the third piece when it comes to customer retention, loyalty and renewability. It means having a strategy that allows your organization to look out for your customers proactively.

Let’s say that you need to relay to your customers the federal reduction of interest rates or a drop in private mortgage insurance for homeowners. The reality is that customers are not spending their time thinking about these topics, but they would be grateful to have this information. This is where contact centers can do your heavy lifting sharing real-time market information with text notifications, which customers can receive and easily click through to accomplish any associated tasks.

When you leverage a contact center’s capabilities to empower your organization and incentivize customers to renew services, you’re building long-term trust and loyalty in your brand.

Investing in a Contact Center Is Investment in Your Customers

At CDW, our duty is to guide customers to the right solutions and services through strategic thinking and robust industry knowledge.

One of our largest financial customers, based in Tennessee, needed assistance in establishing accessibility, simplification and serviceability to better take care of their customers — all during a difficult merger. We developed a strong contact center strategy and helped them migrate platforms to the cloud, unify different systems and track valuable data related to user experience.

Whatever timeline you are working with, our solutions architects are ready to jump in to help you achieve the best business outcomes.

Jeffrey Lock

Principal Field Solution Architect
Jeffrey Lock is a principal solutions architect with more than 20 years of experience in the voice and data communications industry. In the last three years, Lock has leveraged his technical leadership in engineering to help customers choose, implement, upgrade and migrate contact center solutions. He is based in Raleigh, North Carolina.