The Power of Cloud Toolsets for Financial Institutions
From increasingly complex technology to resource constraints––a recent study conducted by Forrester Consulting on behalf of SuccessKPI indicated that only 1 in 3 contact center operators were completely satisfied with their ability to drive better business outcomes.
Consulting on behalf of SuccessKPI indicated that only 1 in 3 contact center operators were completely satisfied with their ability to drive better business outcomes. A range of reasons for this disappointment center around increasing complexity in contact center technology, a skills shortage, and a loss of functionality and familiarity when contact centers move to the cloud, which they inevitably will do.
Challenges for Financial Institutions
These issues may not seem endemic to the financial services industry, but they make day-to-day operations more difficult for banks, insurance providers, collections agencies and financial management firms who are navigating a highly competitive and regulated environment. Both businesses and consumers are suffering from a crisis in customer confidence––the Conference Board reported a continuing decline in consumer confidence overall with a pessimistic view of economic conditions, while news outlets such as the Wall Street Journal reported on negative impacts and consumer sentiment toward banks.
It has never been more critical to fully engage and understand customers’ aspirations, fears, and preferences to rebuild their confidence amid these uncertain economic conditions.
Enabling Cloud Toolsets to Drive Better Business Outcomes
SuccessKPI’s Insight and Action Platform enables a complete view of a customer’s experience by unifying real-time and historical contact center data with interactions from all customer touchpoints across channels. This fully transparent view yields deep customer insights, bolstered by sentiment analysis and data captured across multiple languages through next generation natural language processing engines.
Through the automation of contact center processes, SuccessKPI enables instant, intelligent guidance for contact agents during and after customer interactions. By empowering agents with AI-guided insights and next-best actions, cloud toolsets improve agent performance and reduce employee turnover leading to increased satisfaction on both sides of the brand and /client relationship.
Furthermore, financial institutions can be rest assured with SuccessKPI’s key security services such as automatic PII (Personally Identifiable Information) redactions, and industry-leading payment card industry (PCI) compliance, GDPR, SOC2, and more.
It all adds up to improved business outcomes – what most Forrester survey respondents wanted but lacked – from informed decisions based on timely customer experience insights simplified by custom reporting with detailed dashboard visualizations and integrated data from all sources.
See how financial institutions are transforming customer experience with SuccessKPI.
Cloud Contact Center Success (Forrester Study)
Conducted by Forrester Consulting on behalf of SuccessKPI, the commissioned study “The Frustrating Journey to Cloud Contact Center Success” indicates the move to the cloud has been a frustrating journey, and that cloud toolsets are essential to success in the cloud.
About the Author
More change is afoot in the collections space, with the three main credit reporting agencies, TransUnion, Equifax, and Experian changing the way they will report medical debt.
Financial institutions are a cornerstone of the economy yet they are one of the last institutions to fully embrace digital transformation in the modern age.
In an increasingly-connected world, omnichannel analytics solutions will help you see the big picture from all possible angles and AI/ML-driven customer experience tools will help you keep your finger on the pulse of what your customers really need to stay happy.
