Customer experience is at the heart of every successful business strategy for banks, credit unions, and other financial institutions. Meeting customer expectations requires a proactive and seamless approach to customer interactions through digital transformation. Here are five key ways financial services providers enhance their customer experience.
Modern customers often switch between devices when managing finances, which requires a consistent and frictionless experience across all channels. Ensuring that transactions are simple and seamless is vital.
- eForms on websites and apps can streamline application processes, making them easier to complete and less tedious.
- Automated workflows can improve process efficiency, reduce bottlenecks, and enhance employee accountability.
- eSignatures and similar technologies can simplify authentication, speed up processes, and reduce friction for customers.
An omnichannel approach allows customers to interact with their financial institution across multiple platforms–online, mobile apps, or physical branches.
- A consistent experience across channels draws new customers and retains existing ones.
- Financial services with a 360-degree view of interactions helps customers pick up where they left off, regardless of the channel.
- Frictionless data flow across all channels enables quicker access to information and provides a more consistent experience.
Many financial institutions struggle with siloed systems, which makes it difficult for employees to access customer data and provide a cohesive experience. Addressing this challenge requires seamless integration between core systems and delivery channels.
- Unified data access ensures that all customer interactions are visible in real-time, allowing for quicker and more accurate responses to customer needs.
- Cloud-based platforms help financial institutions overcome legacy system limitations by providing more flexible and accessible data management.
Data is key to understanding customer behavior and resolving issues before they escalate.
- By mining customer data, institutions can predict customer needs and respond proactively.
- Real-time reporting and tracking can identify patterns, keywords, and customer preferences, allowing for quick issue resolution.
- Dashboards and predictive analytics provide high visibility into customer content and interactions, helping employees make more informed decisions.
Customers are concerned about data security. Enhanced data security puts customers at ease, which encourages them to utilize digital channels.
- Financial institutions should adopt flexible and configurable security measures that allow managers to control access while protecting sensitive customer data.
- Automated monitoring systems can detect unauthorized access or misuse of information, ensuring customer data remains secure.
OnBase by Hyland provides financial institutions with the tools needed to transform their customer experience strategies. By streamlining processes and automating workflows, OnBase helps institutions deliver fast, hassle-free service at every point of interaction. Its seamless integration capabilities ensure that customer data flows consistently between systems, enabling a unified experience whether customers are using digital platforms or in-person services. OnBase’s real-time data insights empower teams to anticipate customer needs and resolve issues more efficiently. The platform’s advanced security features protect sensitive data, fostering greater customer confidence.
3SG Plus is an authorized OnBase reseller, integrator, and professional services provider. With 3SG’s support, financial institutions can leverage OnBase can meet and the rising expectations in today’s competitive financial services landscape.