24 October 2017
Richard Broadbent

Richard Broadbent

Richard Broadbent - Diebold Nixdorf

19Posts 97,816Views 1Comments

Customer service for the technology obsessed

17 November 2016  |  6130 views  |  0

Digital technologies have been driving the evolution of customer service over the last few years and this is rapidly changing the way financial organisations, and their customers, think about customer service.

Fuelled by customer demands for instant gratification, advances in technology have altered expectations around the availability of services. Customers increasingly expect a personalised experience, demand it in a shorter timeframe and want it delivered through their channel of choice.

Professor Emeritus of Psychology, Dr.Larry Rosen, claims that this new consumer relationship with technology could even be seen as an ‘addiction’. He says that, “When we are addicted to [technology] we strive for the pleasure it brings.” So, the question is how do banks satisfy this new obsessive consumer relationship with technology?

Be unique

Keep it simple. The technology itself is not a magic fix and financial institutions must use it as an enabler for creating effective customer journeys in order to offer a truly unique customer experience. The technology should be simple to use and help make processes more efficient, providing choice and convenience and giving in-branch staff the opportunity to spend more time with the customer.

Be responsive

Understand the urgency. Consumers want everything in an instant and banks are expected to engage at those speeds. With a wealth of information at their fingertips, consumers are more informed, but often far less loyal and intolerant of a bad customer service experience. Also, the rise of the conscious consumer means that people are looking to engage with companies that reflect themselves, often comparing brands across sectors to align themselves with those that best match their preferred approach to banking. For financial instructions, not acting is no longer an option – they must invest in efficient technology that streamlines the process for consumers, delivering choice and convenience as part of an integrated banking experience.  

Be flexible

Meet consumers where they are. Consumers use a variety of channels to engage with financial institutions, and often want to start and complete a banking transaction through different platforms. While it’s important to ensure alignment across digital platforms, it’s also crucial that financial institutions adapt in-branch technology and processes to align with the overall customer journey. Ensuring that customers receive the same level of customer service, as well as convenience driven facilities in-branch, will be critical if the branch is to retain its position as a key distribution channel for products and services.

The urgent task for financial institutions is to try to understand what truly matters to their customers and deliver what they are looking for. Utilising intelligent technology to help deliver more effective customer journeys and experiences will be vital for success in today’s digital age. 

TagsRetail bankingInnovation

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job title VP Software, UK/I
location Bracknell
member since 2015
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With 25 years' experience of working within the Financial Services industry, I have a wealth of industry knowledge and experience which proves invaluable for my role as VP Software at Diebold Nixdorf...

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