By FintechOS · October 26, 2021
5 minute read

You don’t need a call center platform – you need a digital strategy

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Key Takeaways:

  • A busy call centre could show that your digital journey is not working properly
  • Automation can liberate call center staff from time-consuming manual work
  • Today’s customers bounce between channels throughout the buying journey, so marketers need to ensure that no matter which channel the customers use, they receive the same experience and messaging.

“Your call is important to us.” Does anyone believe that anymore? If customers hear this message when phoning a contact center, something has gone wrong.

A busy call center that leaves frustrated customers hanging on the telephone is like a slow puncture that slowly deflates its reputation by disappointing one person at a time.

A busy call center that leaves frustrated customers hanging on the telephone is like a slow puncture that slowly deflates its reputation by disappointing one person at a time, because bad experiences on the telephone put a big dent in customer satisfaction. One analysis found that 50% of customers abandoned calls after just 45 seconds – with many likely to be frustrated and even angry. A separate survey found that two-thirds of respondents had experienced “customer rage” whilst interacting with a call center, with 35% admitting that they had shouted at agents and 15% confessing they had cursed. And no business wants to hear the word “rage” and “customer” in the same sentence (unless, perhaps, it is suddenly declared to be “all the rage” – an English phrase that means “fashionable”).

If a call center is not operating at full efficiency, its poor performance could reveal that digital services are not working effectively on their own and suggest there are points of friction or breakage in customers’ journeys which force them to get on the phone.

Banks and insurers should beware of busy call centres. If they are not working effectively, installing a new call center platform may not solve your problem. You need a digital strategy.

Omni-channel Innovation

Cell centers have evolved into contact centers, which allow customers to communicate with a business using email, phone, chat service and more. Today, these are evolving into omnichannel contact centers in which all channels are integrated to provide a seamless and customer-centric experience. Today’s customers bounce between channels throughout the buying journey, so marketers need to ensure that no matter which channel the customers use, they receive the same experience and messaging.

When someone in a call center answers the phone, they should have access to a single customer view that shows the services a caller has consumed as well as their prior service interactions. If this information is not easily available to agents, a company cannot serve its customers. The FintechOS single customer view aggregates information related to the customer interaction over time in a single place. It provides a complete overview, supporting you to achieve more relevant, qualified and effective interactions that further build confidence, familiarity, and trust for your brand.

One obvious strategy for reducing call traffic is making sure that customers don’t need to call at all by giving them a purely digital experience. The same approach should be taken with onboarding. Not so long ago, someone wanting to open a new bank account or sign up for health insurance would have to dial up a call center, wait on the line for an agent to become free and then laboriously narrate their personal details over the phone. And that wasn’t the end of the ordeal. Sometimes they had to weeks to find out whether they had been accepted for a loan or qualified for insurance.

Today, there is no need for this kind of manual work and long wait. Routine tasks should now be performed within journeys, which should also automate processes to reduce manual work. Data from customer behavior should be closely monitored to identify pain points and obstacles in the journey. If the digital system cannot fulfil a customers need, they should be able to quickly speak with human staff via real-time chat or video calls.

Digital-First That’s Fast and Friendly

When companies launch digital services that work effectively, the workload of their human staff should drop substantially. If used right, automation doesn’t replace staff, but augments their abilities. When employees are liberated from tedious, routine or manual drudge work, they are free to focus on complex tasks which require the human touch.

A well-enacted digital transformation will alleviate pressure on the contact center more than the installation of a new call center platform, which solves one problem but fails to look at the holistic, omnichannel situation.

Insurers can use FintechOS Northstar to create customer-centric digital journeys which can help avoid unnecessary calls into contact centers, replacing paper-based processes with advanced workflow management and case management to improve efficiency across Operations teams.

Lighthouse helps banks to digitize their workflows end-to-end with advanced workflows, digital KYC, case management, digital documents, and e-signatures. This reduces customer journeys to a single digital session, improving customer outcomes and relieving pressure on staff in contact centers. We can also enable video call functionality that’s available right inside journeys, allowing staff to do what they do best – whilst freeing them from jobs that are best left to machines.

FintechOS can sit on top of your legacy technology, tying together disparate data sources and breaking down silos to create unified systems and processes. Which is exactly what companies need. If you install a new call center platform, you might see a short-term boost in productivity. But the digital problems will be still be there and will only get worse.

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