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article imageFive key customer service trends for 2019 Special

By Tim Sandle     Dec 7, 2018 in Business
Customer services have been subject to several digital disruptions and there are more to come. Adopting these are necessary to deliver customer value and in order to remain competitive.
According to Bill Safran, CEO of Vizolution, those enterprises that utilize digital technology to combine the ‘high-touch’ qualities of face-to-face with the convenience and cost of remote channels will future-proof their success.
Safran has provided some key tips to Digital Journal about the main trends that will impact upon customer services. Safran runs Vizolution, which is a market-leading customer experience technology company. Vizolution helps enterprises to streamline their complex journeys into effortless experiences by replicating the qualities of face-to-face interactions in their remote channels.
Key to the trends identified by Safran are that in 2019 integrating innovative technology into remote banking processes will be key for banks to succeed in the increasingly competitive finance sector.
“In the coming year, the #1 trend for financial institutions will be to invest in processes that provide customers with the qualities of face-to-face interactions within remote channels,” Safran says, “The ability to deliver high-touch remote experiences, in on-line or telephone interactions, will rely on institutions adopting the latest technology.”
Safran has helped enterprises accelerate their digital transformation for more than 15 years. His top five fintech customer experience trends for 2019 are:
Lines will blur between in-branch and digital experiences
As adoption of remote channels becomes more reliable and less complex, digital and in-branch experiences will become increasingly similar and interchangeable, with potentially less dependence on in-branch banking. In order to do this, banks must invest in innovative cutting-edge technology to give customers the same experience when banking in person as remotely.
Customer will be king
Instead of arbitrarily fitting customers into banking processes, banks will strive for customer loyalty by delivering customer-centric journeys that can be completed in their channel of choice. Bain & Company reports that banks can identify the most important interactions and sources of friction and deliver a better experience by making them simpler and more digital.
AI will not be the holy grail
Those viewing AI as the ultimate means of serving customers will be disappointed, as customers will instead begin to migrate to digital channels that offer a human component, especially when there’s more at stake – for example in high value or high touch journeys, or where there is an elevated level of complexity.
The ‘bionic agent’ will bring human connection
Banks that utilize the power of technology will make their call center agents even more effective. Call center agents that are able to digitally share screens, display information, exchange documents and data, and sign agreements remotely have already seen a 20%+ improvement in customer satisfaction, conversion rates of over 25%, and 50% reduction in transaction times. These results bode well for digital banking with a human touch in 2019.
Banks that innovate will prosper
According to the McKinsey 2016 Retail Banking Multichannel Survey, which involved input from 20,000 customers in 10 countries, “Almost all banks are getting their digital act together; but evidence shows that those that did it first, and continue to push hard on their efforts, are getting much bigger rewards.”
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