Promoted | Four need-to-know CX trends for financial services firms in 2023
organisations are facing an entirely new set of customer experience challenges. Many are grappling with a hybrid return to work, an uncertain economy and an increasingly challenging regulatory compliance landscape. What’s more, if customers don’t get the experience they want with your financial services firm, they’re savvy enough to find a better alternative.
Vulnerability can represent a wide variety of challenges — including financial or health concerns, or even a lack of digital accessibility to certain products and services. Fair and equitable treatment of vulnerable customers is the top CX challenge for financial services organisations, according to theMany organisations struggle with this because they rely on manual monitoring techniques, such as customer support agents’ disposition codes, to track vulnerability.
Beyond vulnerability, managing customer complaints and agent process adherence are also critical concerns for financial institutions — particularly those in debt collections settings. However, the same CallMiner report cited above shows that a shocking 94% of financial services firms still do manual analysis of customer data to some extent. That leaves a huge margin for error when it comes to compliance — putting organisations at risk of potential fines and reputational damage.
Fortunately, many of the same AI-powered technologies organisations use to improve productivity can be used to actively listen to employees’ concerns 24/7. By leveraging unsolicited employee feedback, HR leaders can make marked improvements to EX initiatives that help employees feel valued and recognised for their contributions.The last few years of rapid digital transformation have led to an explosion of customer data ready for analysis.
Traditional metrics like Net Promoter Score or customer satisfaction scores only consider solicited customer feedback. While solicited feedback is valuable, it often only measures positive or negative customer interactions — missing out on an entire middle ground of feedback.
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